Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is one of the best stocks to buy in 2026 according to billionaire George Soros. TSM stock has climbed around 30% over the past six months and soared more than 120% over the past 12 months. The Street believes the stock has more room to go up.
On April 30, a quiet announcement about the Taiwanese chipmaker’s sustainability program was made. It was announced that Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), also called TSMC, has expanded its power deal with Northland Power.
The details are that TSMC agreed to purchase additional power from Northland’s Hai Long offshore wind project in Taiwan. It’s a 30-year deal that will see TSMC offtake 100% of the project’s power-generating capacity. The latest deal expands on the companies’ existing partnership signed in 2022.
This is an important step forward for TSMC. The company has committed to 100% renewable energy by 2040. It initially had a 2050 target, but accelerated its sustainability timetable by 10 years.
Before 2040, there are intermediate targets to hit. For example, TSMC aims to reach 60% renewable energy consumption by 2030. The offshore wind power offtake deal with Northland brings TSMC closer to its sustainability goal.
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is a semiconductor chip producer. It manufactures chips on contract for customers such as Nvidia, Apple, Broadcom, and Qualcomm. The company, also known as TSMC, was founded in 1987 and is based in Taiwan.
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