Samsung C&T to Invest $673 Million in Solar Power Plants

Samsung C&T continues to move towards sustainability as it plans to invest $673 million in the construction of solar power plants in Milam County, Texas. The location of these solar plants is less than a two-hour drive to Austin where the chip factory of Samsung Electronics is located.

Samsung Electronics has also considered building a new $17 billion chip plant, still in Austin.

Construction of the solar power plants is set to begin in June 2022. Once completed, they are expected to have a combined capacity of around 700 megawatts.

There are no current discussions being done regarding the project of Samsung Electronics, but Samsung C&T has said that its solar plants are currently “proceeding approval procedures with the state.”

On Thursday, South Korean President Moon Jae-in pledged to cease new financing for coal projects overseas and hopes to realize more ambitious goals for slashing carbon emissions.

Likewise, Samsung C&T has also put any coal-related investments and projects to a standstill, it said in October. Alongside Samsung Electronics, other chipmakers like Intel have also vowed to reduce their carbon footprints by shifting to renewable energy.

Source: Nikkei Asia