In a Singapore first, PacificLight Energy (PLE), the electricity retailing arm of Singapore power company PacificLight Power (PacificLight), and Renewable Energy Corporation (REC), a leading global provider of solar energy solutions, announced on March 18 a strategic partnership to offer a new hybrid energy solution, which will encourage electricity consumers in Singapore to adopt solar power as a source of clean and renewable energy.
The collaboration between PLE and REC, called the “PLEdge to RECharge Green Energy Program”, will provide customisable solutions for Singapore businesses that incorporate the proportion of solar power best suited to each customer’s energy needs, regardless of roof space. Through these hybrid solutions, customers will be able to reduce energy costs, while also decreasing greenhouse gas emissions and pledging their commitment to environmental sustainability.
Mr. Yu Tat Ming, Chief Executive Officer, PacificLight, said, “Customers in Singapore are increasingly looking for innovative solutions which offer greater choice and competitive pricing. Through this collaboration with REC, PLE can offer customers a tailored energy solution that is not only cost competitive, but also helps to protect the environment. As a Singapore power generation and retailing company, we are committed to energy conservation efforts and we look forward to working with REC to continue encouraging green energy use and energy efficiency in Singapore.”
Mr. Martin Cooper, Chief Executive Officer, REC, said, “REC’s vision is to enable electricity users to benefit from energy direct from the sun, and the strategic partnership with PLE allows us to realise this vision for energy users in Singapore. Solar energy continues to become more affordable and our integrated solar production facility in Singapore allows REC to offer competitive products as more customers place importance on green energy solutions. We are proud to partner with PLE to encourage Singapore companies to adopt solar power as a clean energy source.”
Under the PLEdge to RECharge Green Energy program, customers can elect an ownership or leasing arrangement model for solar panels provided by REC and the desired proportion of energy generated by the solar panels. The remaining energy requirements will be met by PLE through the provision of natural gas-fired electricity from Singapore’s energy grid.
The program has been established in response to the Singapore government’s support for the development and deployment of solar technology as part of its efforts to diversify the nation’s energy mix. It also complements the SolarNova initiative spearheaded by Singapore Economic Development Board (EDB).
Speaking at the official launch of the strategic partnership, Mr Goh Chee Kiong, Executive Director, Cleantech and Cities, Infrastructure and Industrial Solutions, EDB, said, “Companies around the world are embracing solar energy to fulfil their corporate sustainability goals, access a cost-competitive energy source and mitigate the fluctuations in fossil fuel prices. This pioneering partnership between REC, a global solar energy leader and PacificLight, the newest genco in Singapore, is testament to the increasing demand for renewable energy solutions in Singapore. The business model innovation in this partnership will also strengthen the position of Singapore as Asia’s leading cleantech hub where innovations are developed and commercialised to serve the regional markets.”
About Renewable Energy Corporation (REC)
REC is a leading global provider of solar energy solutions. With more than 15 years of experience, we offer sustainable, high performing products, services and investments for the solar industry. Together with our partners, we create value by providing solutions that better meet the world’s growing energy needs. REC is headquartered in Norway and listed on the Oslo Stock Exchange (ticker: RECSOL). Our 1,800 employees worldwide generated revenues of USD 680 million in 2014.
About PacificLight Power
PacificLight Power Pte Ltd is owned 70:30 by FPM Power Holdings Ltd and PETRONAS Power Sdn Bhd. The company operates an 800MW state-of-the-art Combined Cycle Gas Turbine power plant on Jurong Island and is the largest consumer of Liquefied Natural Gas (LNG) in Singapore, utilising Singapore’s first LNG import terminal operated by the Singapore LNG Corporation Pte Ltd.
PacificLight Energy Pte Ltd, a wholly owned subsidiary of PLP, holds an electricity retail license from the Energy Market Authority and has been supplying electricity to eligible contestable consumers since 2013.
PacificLight has been successfully registered as a Clean Development Mechanism (CDM) project under the United Nations Framework Convention on Climate Change, making it the largest CDM project in Singapore.
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