Phoenix Solar will be developing the rooftop system on CMM's corporate headquarters and centralized distribution center at Mandai Link in the northern part of Singapore. The photovoltaic system will cover around 11,000 square meters and have a rated capacity of at least 1.2 MWp. The system is expected to be completed by the end of this year.
Approximately 15% of CMM's electricity consumption will be covered by the rooftop PV system. This will mitigate at least 730 metric tons of carbon dioxide per year from Singapore's gas-fired power plants. "The commercial and environmental returns of this project make it a viable business decision, which will continue to yield benefits for a long time," Lim Hock Chee, CEO of Sheng Siong commented.
PV in Singapore paying off
This first large rooftop project in Singapore is indicative of a new trend, Phoenix Solar believes. The demand for bigger PV systems is growing in the Southeast Asian country, where an industrial rooftop PV system can be expected to pay for itself in 7-10 years resulting in an unlevered project internal rate of return of 8 to 13%.
"Thanks to the attractive returns on investment we expect the installed PV capacity in Singapore to more than double in 2013 reaching at least 20 MW by December," Phoenix Solar Managing Director Christophe Inglin stated. "If this growth rate continues, then within a decade PV will become a mainstream source of electricity in Singapore," he concluded.
Phoenix Solar also announced the development of a 435 kWp PV system for Greenpac a few months ago.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.