STMicroelectronics: cold network project in Singapore
(CercleFinance.com) - STMicroelectronics announced on Wednesday that it has selected utility provider SP Group to install a cooling system at its Singapore site.
The project, which is estimated to be worth about 370 million dollars over a 20-year period, is the largest cooling network to be deployed for an industrial group in the country to date.
Under the terms of the agreement, SP - which operates Singapore's national power grid - will be responsible for the design and construction of the infrastructure, which is expected to have a capacity of 36,000 tonnes of refrigeration.
The system is expected to be operational in 2025.
STM - which has set itself the target of becoming net zero by 2027 - says the system will enable it to reduce its cooling-related electricity consumption by around 20% per year.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The project, which is estimated to be worth about 370 million dollars over a 20-year period, is the largest cooling network to be deployed for an industrial group in the country to date.
Under the terms of the agreement, SP - which operates Singapore's national power grid - will be responsible for the design and construction of the infrastructure, which is expected to have a capacity of 36,000 tonnes of refrigeration.
The system is expected to be operational in 2025.
STM - which has set itself the target of becoming net zero by 2027 - says the system will enable it to reduce its cooling-related electricity consumption by around 20% per year.
Copyright (c) 2022 CercleFinance.com. All rights reserved.