STMicroelectronics (STM) announced a 21-year power purchase agreement, or PPA, with BKH Solar Sdn Bhd, an entity jointly established by Engie Renewable (ENGIY) and Conextone Energy. The agreement will facilitate the supply of approximately 50 GWh of renewable energy annually from a new solar farm in Bukit Kayu Hitam, Kedah, Malaysia. This long-term agreement is undertaken under the Corporate Green Power Program introduced by the Malaysian Single Buyer in 2023.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on STM:
- STMicroelectronics Strengthens Equity with Share Buyback
- STMicroelectronics price target lowered to EUR 30 from EUR 36 at Citi
- STMicroelectronics downgraded to Neutral from Outperform at Oddo BHF
- STMicroelectronics downgraded to Underweight from Equal Weight at Morgan Stanley
- STMicroelectronics price target lowered to EUR 25 from EUR 28 at Barclays