The manager of AIMS APAC REIT, on Sept 16, announced that it will be partnering with SP Group to install a rooftop solar photovoltaic (PV) system across six of the REIT’s industrial, logistics and warehouse properties in Singapore.
The six properties are 20 Gul Way, 27 Penjuru Lane, 30 Tuas West Road, 103 Defu Lane, 8 & 10 Pandan Crescent and 8 Tuas Avenue 20.
According to the REIT manager, the 10.8 Megawatt-peak (MWp) combined solar PV system comprising 20,157 rooftop solar panels, will be one of the largest installations made by any Singapore-listed REIT. The installations are slated to be completed by December 2023.
The panels will span across 5.2 hectares and can collectively produce 14,500 Megawatt-hours (MWh) of energy per year. This is the equivalent of producing enough energy to power 4,400 three-room Housing & Development Board (HDB) flats per year.
The panels will also avoid over 5,900 tonnes of carbon emissions a year and is equivalent to taking almost 6,490 cars off the road, says the REIT manager.
In addition, the solar energy generated from the combined rooftop solar PV system is recognised as a renewable energy source. This means AA REIT will receive all the renewable energy certificates (RECs) associated with the green energy generated. These RECs can be used to offset carbon emissions by AA REIT as well as support its tenants in their emission reduction efforts.
See also: CICT's manager proposes to acquire ION Orchard at $1.85 billion, subject to EGM
“We believe in embedding sustainability into our business practices, which not only benefits the environment and our stakeholders, but creates long-term value for our unitholders,” says Russell Ng, CEO of the manager.
“Furthermore, we are pleased to partner with one of Asia Pacific’s leading utilities company, SP Group, on this significant milestone and continuation of our decarbonisation journey. We are also proactively reviewing our portfolio to identify measures and potential opportunities to reduce the brown energy consumption and carbon footprint across our properties,” he adds.
Further to its statement, AA REIT says it is also exploring the feasibility of introducing more sustainable energy solutions with SP Group to enhance the sustainability credentials in AA REIT's Singapore portfolio.
Units in AA REIT closed at $1.36 on Sept 15.
