YTL PowerSeraya, the parent company of Geneco, has committed to build an additional 4 megawatt-peak (MWp) photovoltaic (PV) System at the Pulau Seraya Power Station (PSPS) on Jurong Island.
Scheduled for completion in September 2024, YTL PowerSeraya says the expansion is set to generate over 417 megawatt-hour (MWh) of electricity monthly, enough to power an estimated 1,103 four-room HDB flats for a month.
This expansion to the operational 1MWp solar PV system, built in 2019, will bring the total solar PV capacity at PSPS to 5MWp, says YTL PowerSeraya on Oct 23. The company says this will contribute to Singapore’s plans to deploy at least 2 gigawatt-peak (GWp) of solar energy by 2030.
In addition, Geneco has extended its Power Eco Add-on to small- and medium-sized enterprises (SMEs). The scheme invites customers to purchase Renewable Energy Certificates (RECs) or carbon credits from Geneco, YTL PowerSeraya's retail arm.
Some 16% of Geneco’s commercial and industrial customers are SMEs with green products. Geneco says this move will meet rising demand from businesses looking to offset emissions from their electricity use, or Scope 2 emissions.
Geneco launched Power Eco Add-on for retail customers in August 2021. From $1 to $4, new customers can choose to offset 25%, 50%, 75% or 100% of their electricity emissions, estimated against an average household consumption of 400 kilowatt-hour/month.
See also: Geneco believes Singaporeans will want to pay more for green power
From Oct 23 to Dec 31, SMEs who opt in will receive their first three months of Power Eco Add-on free of charge.
“Geneco and our parent company, YTL PowerSeraya, have always been committed to strategic, forward-looking initiatives aimed at catalysing sustainable developments and meeting the evolving needs of our customers,” says Lim Han Kwang, chief executive officer of Geneco and group head of retail, regulation and renewables at YTL PowerSeraya. “Our vision drives us to take tangible steps towards a greener tomorrow, and to assist businesses in reaching their sustainability goals.”
PowerSeraya was spun off from Singapore Power in 2001 to become a Temasek Holdings-linked company. In March 2009, the PowerSeraya Group was divested from Temasek Holdings to become a wholly-owned subsidiary of YTL Power International Berhad.
The company was renamed YTL PowerSeraya in April 2012. The group has two subsidiaries: Geneco provides electricity price plans and energy solutions to homes and businesses, while PetroSeraya is the fuel management arm of the group.
