UMC Bolsters Capacity with $18.5B NT Investment, Inks Major Renewable Energy Deal

United Microelectronics Corporation (UMC) has unveiled two strategic initiatives marking significant progress in sustainable development and operational growth.

Strategic Investment for Expansion
UMC announced a capital investment of NT$18,498 million, emphasizing its commitment to expanding production capacity and addressing growing global semiconductor demand. This substantial move aims to solidify UMC's position as a global leader in the sector.

Renewable Energy Breakthrough
In a landmark agreement, UMC signed a 30-year power purchase contract with Fengmiao Wind Power Co., Ltd., marking its largest renewable energy deal to date. This initiative aligns with UMC’s ambition to achieve net-zero emissions by 2050 and reflects its dedication to reducing its carbon footprint.

Company Overview and Market Performance
Renowned for its semiconductor innovations, UMC continues to focus on sustainability. Despite a 21.92% decline in stock prices year-to-date and an average trading volume of 11,650,211, the company retains a "Buy" consensus from analysts and boasts a market capitalization of $16.39 billion USD.

Source: Jomfrumand.net