Sembcorp Utilities announce first solar energy project in Singapore

The company will co-develop a 3.6MW grid-tied solar PV system near Changi Airport.

Sembcorp Industries announced its first solar energy project in Singapore, which will provide renewable power to two airfreight terminals near Singapore Changi Airport. This will be one of the largest single-location solar energy systems in the country.

Through wholly-owned subsidiary Sembcorp Utilities, Sembcorp has acquired 49% of Changi Mega Solar, which is developing a 3.6MW grid-tied solar photovoltaic system on the rooftop of SATS Airfreight Terminals 5 and 6 near Singapore Changi Airport. This photovoltaic system will provide renewable power directly to SATS Airfreight Terminals 5 and 6. Currently under construction, the project is nearing completion and expected to start operating at the end of the year, subject to the relevant approvals from the authorities.

This project is Sembcorp’s first solar energy project in Singapore, where it already has gas-fired, biomass and energy-from-waste projects. With distributed solar energy likely to play a greater role in future energy solutions, this investment reflects the company’s commitment to providing diverse and innovative solutions to our customers.

Worldwide, the company has a power portfolio of over 10,000MW, comprising both thermal and renewable assets. Sembcorp is growing its renewable power business globally and its green energy portfolio includes wind, solar and biomass energy as well as energy-from-waste facilities, spanning Singapore, China, India and the UK.

The total consideration of S$2.6m will be funded internally. The acquisition 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 December 31, 2016