GSK Signs 10-Year Energy Agreement with Sembcorp in Singapore

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GSK has entered into a 10-year energy agreement with Sembcorp to meet the electricity needs of all three of its global manufacturing sites in Singapore. Starting from January 1, 2025, all of GSK’s manufacturing operations in Singapore will be powered by renewable energy certificates from Sembcorp’s solar projects and the 3 per cent already produced by GSK’s on-site solar panels.

Furthermore, this agreement will provide up to 87,600 MWh of electricity annually through renewable energy certificates, reducing carbon emissions by approximately 36,500 metric tonnes and boosting GSK’s global renewable electricity usage by 9 per cent. This deal underscores GSK’s continued investment and commitment to Singapore, where it has been present since 1959. The company has invested more than £1.5 billion in Singapore till date.

In November 2023, Sembcorp signed two separate agreements to acquire a total of 428 MW of wind assets in China and India. Sembcorp’s wholly-owned subsidiary, Sembcorp Energy (Shanghai) Holding Co Ltd, has signed an agreement with Envision Energy Co Ltd to acquire 100 per cent of the share capital in Qinzhou Yuanneng Wind Power Co. Ltd, (Qinzhou Yuanneng) for an equity consideration of approximately $130 million.

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