Sembcorp to invest $10.5b in renewables
The company will deploy 10% of the capital into decarbonisation solutions.
Sembcorp will invest $10.5b in renewables as part of its five-year strategic plan to support global energy transition and sustainable development.
Of the total capital, the company will deploy 10% into investments, including hydrogen-ready assets and another 10% into decarbonisation solutions. Sembcrop will allocate the remaining 5% to the Integrated Urban Solutions segment.
Under its 2023-2028 strategic plan, Sembcorp will also grow its gross installed renewables capacity to 25 GW by 2028.
Currently, Sembcorp has achieved 12GW of gross renewables capacity, which translates to 61% of Sembcorp’s energy portfolio.
By 2028, Sembcorp also hopes to halve its emissions intensity to 0.15 tCO2e/MWh from 2023 forecasted levels of 0.30 tCO2e/MWh.