YTL PowerSeraya will invest over $5m to reach five times its current solar output by Sept 2024

SINGAPORE – YTL PowerSeraya (YTLPS) will invest more than $5 million to expand the amount of solar power generated at its Pulau Seraya Power Station to 5MWp (megawatt-peak) by September 2024, up from the existing 1MWp.

The increased capacity, which can produce a monthly average of 417 megawatt-hour (MWh) under optimal conditions, will be able to support more than 1,000 four-room Housing Board flats for a month.

This will bring YTLPS’ overall investment outlay in solar power to well above $6 million.

Installation of the additional solar panels will start from October, although this has been part of the group’s strategic vision since the inception of its solar-power venture in 2019, said Mr Lim Han Kwang, group head of retail, regulation and renewables at YTLPS.

Speaking on the sidelines of the Singapore International Energy Week event at the Sands Expo and Convention Centre on Monday, he added that the company’s move will help to “advance Singapore’s sustainable development agenda in line with the country’s Green Plan to deploy at least 2GWp (gigawatt-peak) of solar power by 2030”.

According to data from the Energy Market Authority’s website, Singapore is halfway to achieving that goal, with a little over 1GWp of total installed capacity from solar energy as at the end of the second quarter of 2023, up nearly 10 per cent from the first quarter.

Of this total, the private sector contributed about 63.5 per cent of total capacity, or about 638.8MWp, with the remainder coming from town councils, public housing, public sector agencies and the private residential sector.

Mr Lim, who is also chief executive of YTLPS subsidiary Geneco, said: “Our goal is to provide renewable and eco-friendly alternatives while ensuring that the process aligns with our commitment to a greener future for Singapore.”

Ultimately, YTLPS has set a target to cut its carbon emissions from 2010 levels by up to 60 per cent come 2030.

Separately, Geneco is extending its carbon-offset plan, Power Eco Add-on, to small and medium-sized enterprises (SMEs) that are looking for options to offset their carbon emissions from their energy usage.

The scheme, which is already offered to Geneco’s residential customers at the same rate, is the country’s first customisable green add-on for an electricity plan, and SMEs that take up this offer between now and the end of December will get a complimentary subscription for the first three months.

According to Geneco, SME clients can decide on their preferred level of green contribution, and will be charged a monthly flat fee of 0.25 cent per kilowatt-hour (kWh) for every 25 per cent of carbon offset.

This means that clients will, for example, pay $40 more in addition to their energy bill, assuming they use 4,000kWh and choose a carbon offset at 100 per cent.

Mr Lim said the take-up from its residential clients has been encouraging, with 10 times more customers opting for this scheme since its launch in 2021.

Among these clients, 40 per cent of them chose to offset their emissions by the maximum amount, he noted.

“Our vision drives us to take tangible steps towards a greener tomorrow, and to assist businesses in reaching their sustainability goals,” said Mr Lim.