HDB announces Singapore’s first Solar Leasing Project in Punggol Eco Town
Posted on September 15, 2011 by derek
Who said Singapore can’t do renewable energy again?
Via Straits Times:
The Housing & Development Board (HDB) on Thursday announced that 45 blocks in Punggol will be fitted with solar panels in Singapore’s first solar leasing project, marking a milestone in the country’s fledgling solar industry.
Local solar manufacturer Sunseap Enterprises bagged the tender to design, finance and install the 2 MWp (mega-watt peak) solar system in Punggol Eco-Town.
HDB will foot 30 per cent of the start up costs at $3.28 million. The company will pay the rest of the cost, but will recover this over the next 20 years by selling the solar power generated from the solar panels to Pasir-Ris Punggol Town Council at a preferential rate not higher than the current electricity tariff.
HDB’s chief executive Cheong Koon Hean said yesterday that Punggol, as Singapore’s first eco-town, ‘is the ideal location for us to expand our solar PV (photovoltaic) installations through solar leasing’.