Sembcorp Industries (Sembcorp) has signed a long-term agreement with Experia Events to install, own and operate rooftop solar panels with a total capacity of 6.3 megawatt peak, atop its flagship facility, Changi Exhibition Centre (CEC).
Built on a sprawling 30-hectare site, the Changi Exhibition Centre is a multi-dimensional facility that has hosted many key aviation, sporting and lifestyle events in Singapore. The rooftop solar energy system, comprising over 15,000 solar panels, will be built on top of the facility's 40,000 square metre exhibition hall. It will help to power the onsite operations at CEC and any surplus power generated from this system will be channeled to the grid.
Upon completion and installation of the solar energy system in November 2019, it is expected to produce over 7,840 megawatt hours of power annually. This is enough renewable energy to power more than 1,750 four-room HDB flats for a year.
The solar energy system will also help avoid over 3.2 million kilogrammes of carbon dioxide emissions a year, equivalent to the emissions avoided from taking around 715 cars off the road, or planting over 39,000 trees.
Koh Chiap Khiong, Head of Singapore, Southeast Asia & China (Energy), Sembcorp, said, "We are pleased to be Experia Events' green energy partner and to add a rooftop solar power system on top of their flagship asset, Changi Exhibition Centre here. More and more companies are wanting to play a part in reducing their carbon footprint and Sembcorp is actively helping to enable their efforts in this, so that together we can contribute towards a more sustainable future for all."
"With a growing concern for the environment, we readily embraced the idea of an alternative energy source for the running of our business operations; especially for a mega-complex such as the Changi Exhibition Centre. We are glad to contribute to a sustainable future by reducing carbon emissions with the installation of these solar panels. In doing so, we hope that our business associates and customers are assured that they have a green partner in us," said Leck Chet Lam, Managing Director, Experia Events Pte Ltd.
Sembcorp is one of Singapore's leading solar energy players. To date, it has over 130 megawatt peak of rooftop solar power capacity in operation and under development in the country. These span more than 1,500 sites atop public housing blocks, government sites, as well as commercial and industrial premises. It is also a trusted renewable energy partner to companies in Singapore, in industries such as aerospace, warehousing and logistics, technology, real estate investment trust, as well as meetings, incentives, conferencing, exhibitions (MICE).
Sembcorp is also an established renewable energy player globally with 2,600 megawatts of wind and solar projects across China and India as well. Last year, the company unveiled a new Climate Change Strategy, outlining ambitious targets to double its global renewables portfolio and reducing its carbon emission intensity by around 25% by 2022.
The signing of this agreement is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries, for the financial year ending December 31, 2019.
ABOUT SEMBCORP INDUSTRIES
Sembcorp Industries is a leading energy, marine and urban development group, operating across multiple markets worldwide.
As an integrated energy player, Sembcorp is poised to benefit from the global energy transition. With a strong track record in developing and developed markets, we provide solutions across the energy and utilities value chain, with a focus on the Gas & Power, Renewables & Environment, and Merchant & Retail sectors. We have a balanced energy portfolio of over 12,400 megawatts, including thermal power plants, renewable wind and solar power assets, as well as biomass and energy-from-waste facilities. In addition, Sembcorp is a world leader in offshore and marine engineering, as well as an established brand name in urban development.
Sembcorp Industries has total assets of over S$23 billion and over 7,000 employees. Listed on the main board of the Singapore Exchange, it is a component stock of the Straits Times Index, several MSCI and FTSE indices, as well as the SGX Sustainability Leaders Index and the Dow Jones Sustainability Asia Pacific Index.
For analysts' and media queries, please contact:
Analysts
Ling Xin Jin (Ms)
Senior Manager
Group Strategic Communications & Sustainability
DID: +65 6723 3384
Email: ling.xinjin@sembcorp.com
Media
Archanaa N. Raja (Ms)
Manager
Group Strategic Communications & Sustainability
DID: +65 6723 3186
Email: archanaa.raja@sembcorp.com
