Sembcorp acquires stake in solar project in Singapore
Sembcorp Industries has announed the acquisition of 49% shares in Changi Mega Solar, which is currently developing a 3.6 MW grid-tied solar photovoltaic system on the rooftop of SATS Airfreight Terminals 5 and 6 near Singapore Changi Airport.
This photovoltaic system will provide renewable power directly to SATS Airfreight Terminals 5 and 6. Currently under construction, the project is nearing completion and expected to start operating at the end of the year, subject to the relevant approvals from the authorities.
This project is Sembcorp’s first solar energy project in Singapore, where it already has gas-fired, biomass and energy-from-waste projects.
The total consideration of SGD2.6 million (US$1.82 million) will be funded internally.
Sembcorp has a power portfolio of over 10,000 MW, comprising both thermal and renewable assets including wind, solar and biomass energy as well as energy-from-waste facilities, spanning Singapore, China, India and the UK.
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