Accelerate renewables growth
As a leading renewables player in Asia, we are on track to achieve our target of 10GW gross installed renewables capacity by 2025, and now aim to grow our gross installed renewables capacity to 25GW by 2028. As of February 2024, our gross renewables capacity was 13.8GW including an acquisition pending completion, and projects secured and under construction.
Strengthen commitment to decarbonisation
We have achieved our 2025 emissions intensity target of 0.40tCO₂e/MWh. By 2028, we aim to halve our emissions intensity to 0.15tCO₂e/MWh from 2023. We remain committed to and are on track to reducing our absolute emissions to 2.7 million tCO₂e by 2030 and reaching net-zero emissions by 2050.
1 Emissions intensity and absolute emission target covers Scope 1 (direct emissions) from energy generation, and Scope 2 (indirect emissions) from energy consumption
Capital allocation – increasing renewables investments
In line with our strategic targets, a significant share of capital will be deployed to support renewables growth. We will invest approximately S$10.5 billion, equivalent to 75% of 2024 - 2028 total investments, in renewables. 10% of capital will be deployed into investments including hydrogen-ready assets and a further 10% into decarbonisation solutions. The remaining 5% will be allocated to the Integrated Urban Solutions segment.
Learn more about Sembcorp’s refreshed strategic plan to drive the energy transition.
“ Our vision is to be a leading renewable energy player in Asia, to drive energy transition and sustainable development. The 2023 – 2028 strategy provides a clear direction for Sembcorp for the next five years and we are well-positioned to capture tremendous opportunities in the key markets and create value for our stakeholders. ”
Group President & CEO