Company Watch

Union Power reorganises business to include larger solar offering

It wants to diversify from gas-generated electricity, which tends to be more volatile

Union Power is restructuring its business and aligning its longer-term growth targets with national energy policy to stay viable after a surge in gas prices forced five electricity retailers to pull out of Singapore last month.

Singapore wants to deploy five times more solar energy than today's levels by 2030.

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A version of this article appeared in the print edition of The Straits Times on November 26, 2021, with the headline 'Union Power reorganises business to include larger solar offering'. Subscribe