Alpina Holdings ZXY , through its wholly-owned subsidiary Alpina Energy, has been awarded a contract with a provisional contract sum of around $117 million.
The final contract sum will depend on the actual energisation capacity at the final design stage as well as during the implementation phase of the project, says the company.
The contract, which was awarded by Novasix, will see Alpina Energy design, install, construct, test and commission the solar photovoltaic (PV) systems for the project. The project is the sixth solar leasing tender under the SolarNova programme, a whole-of-government effort led by the Singapore Economic Development Board (EDB) and the Housing & Development Board (HDB) to drive the development of solar PV systems in Singapore.
This contract is expected to be completed by the end of 2024 and is the latest single contract secured by the company to date. It is not expected to have a material impact on the company’s earnings per share (EPS) and net tangible assets.
However, the project is expected to contribute positively towards the company’s financial performance upon its completion.
Alpina’s wholly-owned subsidiary, Digo Corporation, as well as Singapore-based renewable energy systems developer and solutions provider Terrenus Energy, were jointly awarded the sixth solar leasing tender under the SolarNova programme in March 2022.
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“Together with Terrenus Energy, we are delighted to have reached another key milestone in our renewable energy venture. For Alpina, it is much more significant as the provisional contract sum of $117 million marks the largest single contract ever secured by the group,” says Low Siong Yong, Alpina’s executive chairman and CEO.
“With Alpina’s integrated capabilities and focus on operational excellence, we are well-positioned to build up our track record as an enabler for green energy. Solar energy is pivotal in mainstreaming renewable energy usage in Singapore, hence we look forward to working closely with our partners to bring the project to fruition, generating steady commercial and environmental value in the long run for stakeholders,” he adds.
Shares in Alpina closed flat at 18 cents on March 31.
