SP Group steps up regional 'green' game
National utility is pinning its hopes on sustainable energy solutions division set up less than a year ago; it is undeterred by pandemic-led fall in energy demand
Anita Gabriel
Singapore
SINGAPORE's national utility SP Group expects to post a 5-10 per cent decline from the S$1 billion it earned in net profit after tax (NPAT) last year owing to widespread shutdowns to combat the Covid-19 pandemic that hurt demand from energy-guzzling businesses, said its head honcho.
"For big businesses, the drop in their (electricity) demand was the biggest in the history of the company (in terms of volume). Demand from this segment has always been there - worst case, maybe it has risen by half a per cent in the past," said SP's group chief executive Stanley Huang in an interview with The Business Times.
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