Sembcorp Industries, a leading utilities and urban development group, has announced a substantial investment in green energy, committing approximately S$10.5 billion ($7.76 billion) to bolster its renewables sector over the next four years.
This investment represents a staggering 75% of the company's total investments slated for 2024-2028.
The Singapore-based conglomerate's move is a strategic effort to slash its carbon emissions intensity in half by the year 2028. "Sembcorp will invest in capabilities to position itself in low-carbon energy, low-carbon feedstock and carbon management. These include the production and consumption of hydrogen and its derivatives," the company declared in a press release.
With a clear focus on the future, Sembcorp is aiming high, setting a goal to expand its gross installed capacity of renewable energy to 25 gigawatts by 2028. This significant expansion is aimed at supporting the global energy transition and sustainable development goals.
Reflecting on its recent achievements, Sembcorp highlighted a remarkable increase in its renewables capacity since the launch of its strategic plan in 2021. In a short span, the company has managed to quadruple its gross renewables capacity, which now makes up 61% of its total energy portfolio.
Furthermore, the company proudly announced that it has already met its greenhouse gas emissions intensity target for 2025 well ahead of schedule. With this momentum, Sembcorp is confidently on the path to reaching net-zero emissions by 2050, marking its commitment to a cleaner, more sustainable future.
Samira is an Electronics and Communications Engineer by profession, but deep inside, her heart is a nomad! She's a state champion debater, a public speaker, a scriptwriter, a theater actress, but most importantly — A GREEN CITIZEN! She thinks of herself as a storyteller who thrives on enjoying the life at fullest and telling everyone the tales of life.
Renewable Energy ,
Singapore’s Sembcorp Invests $7.76B Boost for Green Energy
by : Samira Tasneem | Published: November 8, 2023
Sembcorp Industries from Singapore to invest billions in renewables, targeting a 50% cut in emissions by 2028.
Sembcorp Industries, a leading utilities and urban development group, has announced a substantial investment in green energy, committing approximately S$10.5 billion ($7.76 billion) to bolster its renewables sector over the next four years.
This investment represents a staggering 75% of the company's total investments slated for 2024-2028.
With a clear focus on the future, Sembcorp is aiming high, setting a goal to expand its gross installed capacity of renewable energy to 25 gigawatts by 2028. This significant expansion is aimed at supporting the global energy transition and sustainable development goals.
Reflecting on its recent achievements, Sembcorp highlighted a remarkable increase in its renewables capacity since the launch of its strategic plan in 2021. In a short span, the company has managed to quadruple its gross renewables capacity, which now makes up 61% of its total energy portfolio.
Furthermore, the company proudly announced that it has already met its greenhouse gas emissions intensity target for 2025 well ahead of schedule. With this momentum, Sembcorp is confidently on the path to reaching net-zero emissions by 2050, marking its commitment to a cleaner, more sustainable future.
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Samira Tasneem
Samira is an Electronics and Communications Engineer by profession, but deep inside, her heart is a nomad! She's a state champion debater, a public speaker, a scriptwriter, a theater actress, but most importantly — A GREEN CITIZEN! She thinks of herself as a storyteller who thrives on enjoying the life at fullest and telling everyone the tales of life.
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