STMicroelectronics and ENGIE sign long-term agreement for the supply of electricity produced from renewable sources in Malaysia

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Geneva (Switzerland) and Kuala Lumpur (Malaysia) – November 7, 2024 -- STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, announced today a 21-year Power Purchase Agreement (PPA) with BKH Solar Sdn Bhd, an entity jointly established by ENGIE Renewable SEA Pte Ltd (ENGIE), a renowned global leader in low-carbon energy and services, and Conextone Energy Sdn Bhd, a rapidly emerging solar energy developer in Malaysia.

Starting in 2025, this PPA with ENGIE will provide a significant level of renewable energy for ST’s operations in our high-volume test and assembly site in Muar, Johor, Malaysia.” Amit Jain, Managing Director India & Southeast Asia, ENGIE, commented: "ENGIE is delighted to join forces with STMicroelectronics in the global transition towards sustainable energy solutions.

Geoff West, EVP and Chief Procurement Officer, STMicroelectronics, commented: "This long-term power purchasing agreement in Malaysia, ST’s first one in Asia, marks yet another important step towards ST’s goal of becoming carbon neutral in its operations (Scope 1 and 2 emissions, and partially scope 3) by 2027, including the sourcing of 100% renewable energy by 2027.

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Author / Journalist: STMicroelectronics N.V.

Category: Technology

Markets: ChinaFranceIndiaMalaysiaSwitzerland

Topics: NL0000226223 NYSE:STM Paris:STMPA US8610121027

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News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 08:00:00 (2 weeks ago)

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