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Sembcorp to install, operate over 15,000 rooftop solar panels at Changi Exhibition Centre
SEMBCORP Industries has signed a long-term agreement to install, own and operate over 15,000 rooftop solar panels with a total capacity of 6.3 megawatt peak on Experia Events' Changi Exhibition Centre (CEC).
The solar energy system will be completed and installed in November 2019, and is expected to produce over 7,840 megawatt hours of power annually or enough renewable energy to power more than 1,750 four-room Housing Development Board (HDB) flats for a year.
It will also help to avoid over 3.2 million kg of carbon dioxide emissions a year. That is equivalent to the emissions avoided from taking around 715 cars off the road, Sembcorp said in a bourse filing on Tuesday.
These will be built above CEC's 40,000 sq m exhibition hall and will help power the onsite operations at CEC.
Any surplus power generated from this system will be channelled to the grid, Sembcorp said.
The signing of the agreement is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp for its fiscal year ended Dec 31, 2019.
Koh Chiap Khiong, head of Singapore, South-east Asia & China (Energy) for Sembcorp, said: "More and more companies are wanting to play a part in reducing their carbon footprint and Sembcorp is actively helping to enable their efforts in this, so that together we can contribute towards a more sustainable future for all."
Managing director for Experia Events Leck Chet Lam said: "With a growing concern for the environment, we readily embraced the idea of an alternative energy source for the running of our business operations, especially for a mega-complex such as the Changi Exhibition Centre. We are glad to contribute to a sustainable future by reducing carbon emissions with the installation of these solar panels."
Sembcorp closed on Tuesday at S$2.39 before the announcement was made, up S$0.04 or 1.7 per cent.