SINGAPORE - Sembcorp Industries has signed an agreement to install, own and operate solar panels atop two Singapore facilities owned by one of the world's largest providers of products and services to the energy industry in a 25-year deal, it announced on the Singapore Exchange on Friday (Nov 2).
Together, the two new rooftop sites make up one of the largest solar farms in Singapore on premises owned by a single company, with a total capacity of 6.2 megawatts peak.
It will produce around 7,435MW hours of power annually, or enough to power more than 1,500 four-room HDB flats for a year, and will help avoid over three million kilograms of carbon dioxide emissions a year, equivalent to taking close to 680 cars off the road.
One of the two sites, located in the Tuas area, will also be the largest solar installation on a single rooftop in Singapore so far, with more than 12,700 solar panels amounting to over 4.7MW peak.
The solar farm will help power the on-site operations of the customer at the two locations, with surplus power channelled to the grid.
The deal expands the solar portfolio of one of Singapore's largest players in the segment to over 115 megawatts peak of solar power assets in operation and under development here.
Sembcorp group president and CEO Neil McGregor said: "As we grow our solar portfolio here, Sembcorp is actively supporting Singapore in its goal of achieving 350MW peak of solar power capacity by 2020."
The signing of this agreement is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending Dec 31.