(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, whose value is estimated at some 370 million dollars over a period of 20 years, is to date the largest cooling network to be deployed on behalf of an industrial group in the country.
Under the terms of the agreement, SP – which operates Singapore’s national electricity grid – will be responsible for the design and construction of the infrastructure, the capacity of which is expected to reach 36,000 tonnes of refrigeration.
The system should be operational in 2025.
ST – which has set itself the goal of achieving carbon neutrality by 2027 – specifies that the device will enable it to reduce its electricity consumption linked to cooling by around 20% per year.
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