Sabinsa purchased 150 million units of renewable power to power 5 of its manufacturing plants

Sami Sabinsa Group, a research oriented company that combines traditional herbal plants to develop forward-looking, sustainable, and innovative nutritional and health products/makeup ingredients, has signed a long-term cooperation agreement with O2 Renewable Energy, a subsidiary of O2 Energy SG PTE Limited, a well-known renewable energy developer in Singapore, to purchase 150 acres of solar renewable energy for 25 years. This investment in clean energy is a significant contribution by the Sami Sabinsa Group to sustainable energy transformation and addressing climate change.

According to the goal of promoting green and sustainable development, all production factories of Sami Sabinsa Group in Karnataka, India will use solar energy. The company plans to collaborate to establish a 3.60 megawatt solar project in the Bellary District of Karnataka, India, with an estimated cost of $750000 per megawatt of solar energy. Sami Sabinsa Group will subscribe to at least 26% of the securities in the project and has signed a securities subscription and shareholder agreement with O2 Energy Singapore and its Indian subsidiary regarding the project.

Dr. Muhammed Majeed, founder and chairman of Sami Sabinsa Group, said, "Our investment in solar energy focuses on high-quality and environmentally friendly solutions, which will help us do our part in addressing climate change and reducing carbon emissions.

The project is expected to be delivered and put into use in October 2023, providing 6.35 million units of alternative clean energy annually to Sami Sabinsa's five production plants in Karnataka.

Dr. Majeed said, "This effort will help Sami Sabinsa achieve various sustainable development and natural resource conservation goals." In addition, this initiative will also create more employment opportunities for local communities. This initiative will help us improve energy efficiency in manufacturing factories while saving energy costs.