UMC Signs 30-Year, 30 Billion kWh Offshore Wind Power Agreement with CIP’s Fengmiao I Offshore Wind Farm
December 18 2024 - 6:31AM
Business Wire
United Microelectronics Corporation (NYSE: UMC; TWSE:
2303)(“UMC”), today announced the signing of a Corporate Power
Purchase Agreement (CPPA) with Fengmiao I Offshore Wind Farm
(“Fengmiao I”), developed by Copenhagen Infrastructure Partners’
(“CIP”) flagship fund, CI V. UMC will purchase more than 30 billion
kilowatt-hours of power from Fengmiao I over least 30 years,
marking the largest renewable energy transaction in UMC’s history.
This agreement will help UMC achieve its goal of 50% renewable
energy use by 2030 as part of the company’s roadmap to net zero
emissions and 100% renewable energy by 2050.
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UMC signed a Corporate Power Purchase
Agreement with CIP’s Fengmiao I Offshore Wind Farm, which will
contribute to the company‘s goal of net zero emissions and 100%
renewable energy by 2050. (From left) UMC Senior Division Director
Andy Lin, UMC Associate Vice President Po Wen Wu, UMC Vice
President Linwu Kuo, UMC Vice President TS Wu, CIP Partner and
Chairman of Fengmiao Offshore Wind Farm Thomas Wibe Poulsen, CIP
Regional Managing Director Marina Hsu, CEO of CIP Taiwan Round 3
Projects Thomas Correll, Project CEO of Fengmiao I Wind Farm Joris
Hol. (Photo: Business Wire)
TS Wu, Vice President of UMC, said, "UMC is pleased to sign this
landmark power purchase agreement with CIP’s Fengmiao I, marking
UMC’s largest renewable energy deal to date and a significant
milestone in our net zero journey. This agreement demonstrates our
commitment to sustainable development to our stakeholders, and also
contributes to UMC’s carbon reduction goals and ESG vision. As a
responsible corporate citizen, UMC actively works on cutting
emissions and energy consumption by installing high efficiency
greenhouse gas abatement equipment and improving the energy
efficiency of our manufacturing processes. At the same time, we
will continue to expand renewable energy use as we advance towards
our 2050 net zero goal.”
Thomas Wibe Poulsen, APAC Regional Partner for CIP’s Flagship
Funds and Chairman of Fengmiao Offshore Wind Farm, said, “The
decision of UMC, a leading global semiconductor company, to
cooperate with Fengmiao I underscores the market’s high confidence
in CIP’s technical and financial capability to deliver offshore
wind projects.”
UMC follows its net zero roadmap, defined by science-based
targets, by taking three key actions: persistent and proactive
carbon emission reduction, 100% renewable energy usage, and
investment in net- zero technologies. In 2023, UMC Group achieved a
26% reduction in scope 1 and scope 2 greenhouse gas emissions from
2020 base levels, reaching its 2030 target ahead of schedule.
Therefore, UMC has revised its original 2030 target of 25%
reduction to a more ambitious 42% reduction goal to accelerate the
pace of its net zero transition.
About UMC UMC (NYSE: UMC, TWSE: 2303) is a leading global
semiconductor foundry company. The company provides high-quality IC
fabrication services, focusing on logic and various specialty
technologies to serve all major sectors of the electronics
industry. UMC’s comprehensive IC processing technologies and
manufacturing solutions include Logic/Mixed-Signal, embedded
High-Voltage, embedded Non-Volatile-Memory, RFSOI, BCD etc. Most of
UMC's 12-in and 8-in fabs with its core R&D are located in
Taiwan, with additional ones throughout Asia. UMC has a total of 12
fabs in production with combined capacity of more than 400,000
wafers per month (12-in equivalent), and all of them are certified
with IATF 16949 automotive quality standard. UMC is headquartered
in Hsinchu, Taiwan, plus local offices in United States, Europe,
China, Japan, Korea & Singapore, with a worldwide total of
20,000 employees. For more information, please visit:
http://www.umc.com.
Note from UMC Concerning Forward-Looking Statements Some
of the statements in the foregoing announcement are forward-looking
within the meaning of the U.S. Federal Securities laws, including
statements about introduction of new services and technologies,
future outsourcing, competition, wafer capacity, business
relationships and market conditions. Investors are cautioned that
actual events and results could differ materially from these
statements as a result of a variety of factors, including
conditions in the overall semiconductor market and economy;
acceptance and demand for products from UMC; and technological and
development risks. Further information regarding these and other
risks is included in UMC’s filings with the U.S. Securities and
Exchange Commission. UMC does not undertake any obligation to
update any forward-looking statement as a result of new
information, future events or otherwise, except as required under
applicable law.
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Media UMC Corporate Communications
Michelle Yun 886-3-578-2258 x16951 michelle_yun@umc.com
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