Green is definitely the new mantra. Power generation companies in Singapore are reportedly working out novel ways in the solar sector with the intimidating carbon tax. And, not to be left behind the electricity retailers are offering new arrays of green electricity plans.
In 2017, the power generation companies took a tough stand in the context of Singapore’s solar sector via acquisitions and power purchase agreements. This was in the backdrop of carbon tax threatening to make the electricity they generated more expensive than solar energy. As a result, nearly 95% of Singapore’s electricity is generated from natural gas.
Sembcorp Industries acquired 49% of a firm developing a rooftop solar system at two airfreight terminals in Changi Airport, and also added two operating rooftop solar facilities in 2017 via an additional acquisition. And, Chief Executive Neil McGregor described the move to develop two rooftop systems at ST Aerospace’s facilities as a demonstration of its commitment to greener energy for Singapore.
Another fellow generation company, Senoko Energy reportedly sold its first rooftop solar installation under a long-term agreement. And, its President and Chief Executive, Bernard Esselinckx said that the company was focused on innovative energy solutions inclusive of solar power generation and energy management.
Meanwhile, Sunseap Group, one of the largest solar players in Singapore, would reportedly construct and install an eco-friendly solar photovoltaic system at PSA’s Singapore terminals in order to reduce its carbon footprint.
And, Independent electricity retailer, iSwitch chose a novel way towards clean energy, by launching an electricity plan in 2017 with carbon credits. The firm has customers inclusive of an international school Dulwich College (Singapore).
All, these developments are attributed to the ambitions for solar adoption in Singapore. Meanwhile, the government indicated that it planned to raise the target of 350 megawatts peak (MWp) to one gigawatt-peak after 2020. Deputy Prime Minister, Teo Chee Hean, reiterated that a fifth of the island’s energy needs could be met through solar if it pushed the boundaries.