on STMICROELECTRONICS (EPA:STM)
STMicroelectronics and ENGIE Partner for Renewable Energy in Malaysia
STMicroelectronics has signed a 21-year Power Purchase Agreement (PPA) with BKH Solar Sdn Bhd, a joint venture of ENGIE Renewable SEA Pte Ltd and Conextone Energy Sdn Bhd. This agreement will supply approximately 50 GWh of renewable energy annually from a new solar farm in Malaysia. The initiative aligns with ST's goal of achieving carbon neutrality and 100% renewable energy sourcing by 2027.
Geoff West, ST's EVP and Chief Procurement Officer, noted that this represents ST's first PPA in Asia, crucial for its carbon neutrality ambitions. ENGIE's Amit Jain expressed the company's commitment to supporting ST's transition to sustainable energy solutions.
The Malaysian site in Muar, employing over 4,700 people, plays a key role in ST's operations, reinforcing its technological and environmental strategy.
R. E.
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