Alpina Holdings’ subsidiary Digo Corporation and renewable energy systems developer and solutions provider Terrenus Energy were jointly awarded the sixth solar leasing tender under the SolarNova programme by the Housing & Development Board (HDB).
Following the award of this project, Digo Corporation and Terrenus Energy will be entering into a joint venture agreement regarding setting up a joint venture company that is meant to take on the SolarNova programme, though negotiations between the two companies continue to be underway.
The SolarNova programme is a Whole-of-Government effort led by the Economic Development Board and HDB intended to prompt demand for solar photovoltaic systems to achieve economies of scale and to drive growth in Singapore’s solar industry. It appeals to public sector demand for the installation of solar panels across 1198 HDB blocks and 57 government sites with a solar capacity of 70 megawatt-peak.
Under the project secured, the two companies are required to install smart electrical sub-meters at HDB blocks. The meters are meant for HDB and town councils to understand the energy consumption patterns and the rendering of common services at every HDB block.
The installation of the solar photovoltaic panels is set to begin in 3Q2022 completed by 1Q2025.
“Solar energy is the most promising renewable energy source for electricity generation in Singapore, and it serves as an important part of Singapore’s efforts to decarbonise its energy usage,” says Low Siong Yong, executive chairman and CEO of Alpina Holdings.
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“Building on this momentum, our group is well positioned to be an enabler for green energy and moving ahead, we aim to develop new capabilities and value propositions within the renewable energy value chain,” he adds.
To recap, Sembcorp was one of the companies to have secured a SolarNova programme project previously. Sembcorp was responsible for building, owning, operating and maintaining grid-tied rooftop solar systems with a total capacity of 50 megawatts across 848 HDB blocks under the West Coast and Choa Chu Kang Town Councils and 27 other government sites in Singapore.
Shares in Alpina Holdings closed at 2.5 cents up or 10.4% higher at 26.5 cents on March 23.
