SINGAPORE (Sept 12): Global financial institution UBS will be Sembcorp Industries’ first renewable energy partner in the financial services industry, as the two have signed a long-term solar energy deal in Singapore. 

As part of the deal, Sembcorp will provide locally-sourced renewable power to support UBS Singapore’s operations over the next 10 years, through the sale of renewable energy attributes from surplus power generated by more than 15,000 offsite rooftop solar panels totaling 6.3 megawatt-peak (MWp) in capacity.

The partnership will run 25% of UBS’s annual consumption across all its offices in Singapore, where the amount of renewable energy consumed will replace close to 20 million kilogrammes of carbon emissions in 10 years. 

By 2020, 100% of UBS operations in Singapore will fully run on renewable energy.

These solar panels, which were exclusively purchased by UBS for its operations in Singapore offices, will be installed on top of a 40,000 square meter exhibition hall in Singapore by December 2019.

August Hatecke, Country Head of UBS Singapore, says, ““UBS is committed to creating long-term positive impact for the global community in a proactive, purposeful and accountable manner. We are delighted to partner with homegrown Singapore power player, Sembcorp, in the use of renewable energy in our Singapore offices, contributing to the reduction of the region’s carbon footprint.”

Koh Chiap Khiong, Sembcorp’s head of Singapore, Southeast Asia & China (Energy), says, “With this deal with UBS, we are pleased to have onboard our very first renewable energy partner in the financial industry, and we will fully support them in their journey towards a more sustainable future.