Singapore's green electricity retailer iSwitch Energy to enter EV charging market

ISWITCH Energy has signed an agreement with Finnish technology company, PlugIT, to acquire up to 12 of the latter's existing electric vehicle (EV) charging stations in Singapore.

Under the terms of the deal, the green electricity retailer will also offer EV charger installation services to its existing portfolio of over 50 management corporation strata titles, 10 shopping centres, 600 car parks and 8,000 landed residential properties.

iSwitch also intends to offset 100 per cent of the electricity used for charging until 2025 by purchasing verified carbon credits.

"Inspired by the Singapore government's recently announced sustainability targets, we have decided that the timing is right for us to enter a new and exciting phase," said Andrew Koscharsky, chief commercial officer at iSwitch.

The acquisition is expected to broaden iSwitch's existing suite of sustainable solutions such as carbon neutral green electricity, home batteries and solar panel installation. According to the retailer, the deal signals its entry into the growing EV charging market.

iSwitch is also working to provide more green energy solutions for local consumers.