Sunseap inks 25-year solar power purchase agreement with ST Kinetics
August 25, 2017
Sunseap Group Pte Ltd, one of the largest sustainable energy providers in South East Asia, announced today that it has signed a 25-year solar power purchase agreement with ST Kinetics, the land systems and specialty vehicles arm of integrated engineering group, ST Engineering.
Under the agreement, Sunseap will provide solar energy to ST Kinetics' premises at five locations, through solar panels installed on rooftops.
Sunseap's five MegaWatt-peak (MWp) solar PV system for ST Kinetics is expected to be ready by October this year. Once completed, it will be able to generate up to 6.2 GigaWatt (GW) of solar energy per year and help the company reduce its carbon footprint by about 2,633 tons annually, the equivalent of planting 67,523 trees over 10 years.
Mr Lawrence Wu, Co-Founder and Director of Sunseap Group, said: "It's heartening to see leading companies like ST Kinetics making a long-term commitment towards renewable energy solutions. We hope their sustainability efforts will help send the message that going green is not a choice but a necessary condition for successful business.
"Sunseap stands ready to support all companies in their drive to be environmentally friendly and we are confident that we can offer customised solutions that are best suited to the needs of different businesses."
Singapore has stepped up efforts to encourage businesses to reduce greenhouse emissions and consider clean energy options. Last year, it announced that a carbon tax will be imposed in 2019 on power producers and large carbon emitters based on each tonne of carbon they release.
Sunseap is one of the biggest players in the solar energy industry in Singapore and the region and its green solutions are fast gaining traction among companies and public institutions. Those who have signed up include Apple, Housing Development Board, Singapore American School, Singapore Cruise Centre, Jurong Port, ABB and Panasonic.