Alpina Holdings, Terrenus Energy win 6th solar tender from HDB

ALPINA Holdings' ZXY : ZXY 0%wholly-owned subsidiary Digo Corporation and solar energy firm Terrenus Energy have been jointly awarded the 6th solar leasing tender under the Housing and Development Board's (HDB) SolarNova programme.

Digo Corporation and Terrenus Energy will enter into a joint-venture agreement and set up a joint-venture company to undertake the project, the Singapore-based contractor said in a bourse filing on Wednesday (Mar 23).

Preliminary negotiations are underway between the 2 companies on the joint-venture agreement, it added.

The SolarNova programme accelerates the deployment of solar photovoltaic (PV) systems in Singapore and is a part of the HDB Green Towns Programme, which has a target of 540 megawatt-peak (MWp) of solar PV capacity by 2030.

The 6th tender - which has a solar capacity of 70 megawatt-peak - aggregates public sector demand for the installation of solar panels across 1,198 HDB blocks and 57 government sites.

As part of the project, the companies will also have to install smart electrical sub-meters at HDB blocks to monitor and analyse energy consumption patterns and the performance of common services at each HDB block.

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The installation of the solar PV panels is expected to begin in Q3 2022 and set to complete by Q1 2025.

Low Siong Yong, Alpina's executive chairman and chief executive officer, said securing the leasing tender is a "significant milestone" for the company. "We are pleased to contribute meaningfully to the acceleration of the renewable energy market in Singapore".

Shares of Alpina closed S$0.025 or 10.4 per cent higher at S$0.265 on Wednesday.