ASML Holding

Business Context

• ASML's EUV lithography tools consume approximately 1,400 kW each; industry fabs equipped with EUV are projected to consume 54,000 GW annually by 2030.
• Customer TSMC announced $54 billion capex for 2026, up 32% year-over-year, driving demand for ASML's monopoly EUV systems.
• ASML guided 2026 net sales of €34–39 billion, with gross margin of 51–53%, reflecting sustained AI-driven semiconductor equipment demand.

Commitments

• SBTi-approved near-term targets for 2025; seeking approval for 2040 targets requiring 90% absolute scope 1 and 2 emissions reduction versus 2019.
• Greenhouse gas neutral across value chain by 2040, with 97% scope 3 emissions intensity reduction per euro of gross profit versus 2019.
• Achieved scope 1 and 2 GHG neutrality in 2025 after 60% absolute reduction since 2019 baseline.

Energy Strategy

A narrow, Netherlands-focused wind procurement strategy anchored by a single long-term counterparty relationship with RWE, extended in 2026 to lock in supply through 2038.

• The 2026 RWE Green PPA Expansion added 130 MW of onshore wind capacity and extended the original 2021 contract to 2038, deepening the RWE partnership.
• Both tracked deals source onshore wind from Netherlands and Belgium, with RWE Supply & Trading as sole counterparty across the portfolio.
• Geographic and technology concentration reflects ASML's operational footprint in the Netherlands, where its largest manufacturing sites and 44,000-employee base drive electricity demand.
• Portfolio remains modest relative to semiconductor equipment peers; no tracked solar, nuclear, or geothermal deals despite industry-wide pivot toward diversified 24/7 carbon-free energy.