TSMC and Chengxin Power sign 20000GWh Renewable Energy purchase Agreement

CTOnews.com, April 22, TSMC announced that it has signed a long-term agreement with Chengxin Electric Power (Chengxin Green Energy subsidiary) to purchase 1000GWh renewable energy annually for 20 years, a total of 20000GWh, which is about 250000 households' annual electricity consumption. TSMC will subscribe to 500GWh every year, while 500GWh invites suppliers to co-subscribe, which is expected to reduce carbon dioxide emissions by 500,000 metric tons per year.

CTOnews.com learned from TSMC's website that TSMC became the first semiconductor company in the world to join the Global Renewable Energy Initiative (RE100) after 2020, creating an innovative ESG model for joint procurement of renewable energy.

Through the joint procurement model, to provide participating suppliers with electricity assessment and planning services, and with a 20-year long-term purchase volume as a commitment to reduce the threshold for TSMC suppliers and subsidiaries to adopt renewable energy. Chengxin Green is expected to provide electricity with a total installation of up to 2GW within three years, and TSMC is committed to achieving the net zero emission target by 2050.