Sembcorp to Quadruple RE Capacity by 2025 & Deliver Net-zero by 2030

By Saur News Bureau/ Updated On Fri, May 28th, 2021

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Singapore-headquartered Sembcorp Industries, a leading energy and urban solutions provider, yesterday announced its strategic plan to transform its portfolio from brown to green, including increasing its renewable energy capacity – by almost four times- to 10 GW by 2025 from 2.6 GW in 2020.

To support the global energy transition and sustainable development, Sembcorp aims to grow profit contribution from its sustainable solutions portfolio from a current 40% to 70% by 2025. By 2025, its renewable energy portfolio is targeted to achieve a compounded annual growth rate of 30% and its integrated urban solutions portfolio a CAGR of 10%.

By 2025, the company aims to quadruple its gross installed renewable energy capacity to 10 GW and triple its urban business’ land sales to 500 hectares. In 2020, its gross installed renewable energy capacity (comprising wind, solar and energy storage) was 2.6 GW and land sales amounted to 172 hectares.

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Central to its strategy is also its commitment to bold climate action to halve Sembcorp’s greenhouse gas (GHG) emissions by 2030 and deliver net-zero emissions by 2050.

Wong Kim Yin, Group President & CEO of Sembcorp Industries, said, “The transformation plan we unveiled today is driven by a clear purpose to play our part in building a sustainable future. With our proven track record across Asia and capabilities across various segments of the renewables and urban solutions sectors, Sembcorp is well-positioned to be a leading pan-Asian provider of sustainable solutions.”

In line with its strategic plan, Sembcorp reaffirmed its commitment to the UN Sustainable Development Goals (SDGs). Its focus will be SDG 7 (Affordable and Clean Energy) and SDG 13 (Climate Action) where it aims to make meaningful contributions.