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Sunseap Leasing wins largest solar leasing tender from HDB

Housing & Development Board (HDB) has awarded its largest solar leasing tender to date. The tender was awarded to Sunseap Leasing Pte Ltd.

HDB said on Sunday that it awarded the tender of 38 megawatts at optimum conditions, or 38 megawatts-peak (MWp), of solar energy on October 27. Called in May, the tender had attracted seven tenderers.

Under the tender, solar photovoltaic (PV) systems will be installed at about 680 HDB residential blocks in four towns - Jurong East, Marine Parade, Sembawang and Tampines. These systems will also be installed at three HDB-owned commercial and industrial properties covered under the tender - Woodlands Civic Centre, Eastlink Industrial Building and HDB Hub in Toa Payoh.

"This is also the first tender awarded by HDB with the full cost of solar PV systems borne by the solar PV developers (that is, there is no upfront cost payable by HDB)," HDB said in a news release. "Prior to this, HDB had funded a proportion of the cost for solar leasing tenders called earlier, to kickstart the solar leasing programme. As larger tenders are being called, there will be economies of scale. Based on the current sustainable business model of solar leasing, HDB will not be funding any portion of the upfront cost for future projects to install solar panels."

Including the recent tender, HDB has procured 54 MWp of solar PV to date. This could potentially generate enough electricity to provide for 14,000 units of four-room flats. These 54 MWp of solar PV panels are progressively being installed.

"Moving ahead, HDB will continue to procure more solar PV with bigger contracts, while building our capabilities in solar technology," HDB said.