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Sembcorp buys two rooftop solar facilities in Singapore
SEMBCORP Industries on Tuesday announced that it has added two operating rooftop solar facilities in Singapore to its global renewable energy portfolio.
It completed its purchase of 100 per cent of Solar C&I Holdings for S$3.3 million from REC Solar through its wholly owned subsidiary Sembcorp Utilities.
Solar C&I owns grid-tied rooftop solar assets located at the premises of Asia Pacific Breweries Singapore (APB) and Stolthaven Singapore. These assets are already in operation, and provide power directly to APB and Stolthaven, with a combined capacity of 2.3 megawatts.
Neil McGregor, group president and CEO of Sembcorp, said: "The addition of these two new rooftop solar power projects is in line with Sembcorp's goal to grow solar power capacity through more self-development and acquisition projects, and move into the emerging distributed solar energy market in Singapore. The acquisition will also complement our local electricity generation and retail capabilities in the country."
Sembcorp added that as Singapore's power market moves towards full retail competition, this "small but significant" acquisition is focused towards sustainability and greener energy for the country, strengthening the group's position as a leading energy player.
Shares of Sembcorp closed on Tuesday at S$3.13, down two Singapore cents.