UMC signs 30-year deal with CIP for 30 billion kWh of renewable energy

United Microelectronics Corporation 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.

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.

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