Samsung C&T decided to invest more than $673 million in developing solar power plants in Texas. The construction is expected to start by 2022.
Samsung has invested around $673 million financial budget to develop and build solar power plants in Texas. The giant tech firm decided to do this so that it can expand its business. It also said that the Texas solar power plants could start commercial production in December 2023.
Samsung C&T confirmed that the upcoming solar power plants will be located in Milam County, Texas. Various sources were able to reveal this information after the tech giant company published a document, which contains all the essential information and data.
On the other hand, the mentioned county is less than a two-hour drive to Samsung Electronics’ chip factory in Austin where the South Korean firm is considering building a new $17 billion chip plant. With a combined capacity of about 700 megawatts, the solar power factories will start construction in June 2022, according to the documents.
Aside from this, Samsung C&T’s office also confirmed that the tech giant developer’s new project is currently proceeding with approval procedures with the state. Although this is the case, there are no current discussions yet with the company’s Electronics regarding the new program.
Samsung C&T’s new solar power plant program
Samsung C&T’s appeal of solar and wind power is growing quickly as countries around the world transition from fossil fuels to cleaner renewable sources of power to stop global warming. Right now, U.S. President Joe Biden said that he and his administration wants all power in the United States to come from non-carbon-emitting sources like nuclear and renewables by 2035.
On the other hand, Moon Jae-in, the South Korean president, said that they pledged to end all upcoming financial for overseas coal projects and would soon set a more ambitious schedule for reducing carbon emissions. Because of these, Samsung C&T decided to halt any new coal-related investments and projects back in October.
The giant chip manufacturer pledged to boost the use of renewable energy to reduce its carbon footprint. Aside from the giant tech developer, Intel, TSMC, and other giant firms also followed its plan.
Chip manufacturing, which requires a large amount of energy as well as gases and chemicals, accounts for most of the carbon output attributable to data centers and mobile phones, according to research by Harvard University, Facebook Inc., and Arizona State University.
Because of these, various international governments warned tech giant developers to stop creating coal-related projects and other activities. Since this is the case, Samsung Electronics and other tech giant companies suffered from plant suspensions as a result of winter storm and power crisis in Texas.
If other companies, also followed this new tech industry trend, there’s a high chance that almost all parts of the world will be using clean energy. But, this will still take a long time to happen.