UBS expects to run its entire operations on renewables by 2020.
Sembcorp Industries will be providing locally-sourced solar power to UBS offices over the next ten years, according to a press release. This will be Sembcorp’s first renewable energy partner in the financial services industry.
This will be made 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, that will be installed on top of a 40,000 square meter exhibition hall in Singapore by December 2019.
This partnership will run 25% of UBS’s annual consumption across all of its offices in Singapore, where the amount of renewable energy consumed will replace almost 20 million kg of carbon emissions in 10 years.
Its operations in Singapore is expected to fully run on renewable energy by 2020.