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REC secures its first solar power purchase agreement deal in Singapore

SOLAR energy solutions provider REC has clinched a solar power purchase agreement (PPA) contract with Stolthaven Singapore, one of 20 bulk-liquid terminals operated by Stolt-Nielsen Limited, a provider of integrated transportation, storage and distribution solutions for chemicals and other bulk-liquid products.

Under the contract, REC will install 187-kilowatt peak rooftop photovoltaic (PV), which will feature about 700 REC TwinPeak Series panels.

This is REC's first solar PPA in Singapore. It has been offering local commercial and industrial businesses the option of a PPA since October 2014. This is also the first time that REC's TwinPeak Series panels have been selected for a rooftop project in Singapore.

With a solar PPA, business owners pay only for the consumed solar energy generated from their roofs, which will be set at a fixed agreed rate for the next 25 years. Meanwhile, REC will bear the investment and maintenance costs of installing the solar systems on rooftops.