A new 995 kilowatt-peak (kWp) rooftop solar photovoltaic (PV) system atop the SingPost Centre is expected to generate about 4% of the mixed-use development’s annual energy consumption. The system is expected to generate around 1,150 megawatt hours (MWh) of electricity annually, or enough to power 271 four-room HDB flats in Singapore.
The power purchase agreement (PPA) has a tenure of seven years, and the “default option” at the end of the PPA tenure is for the PV system to be transferred to SingPost, says the spokesperson.
The solar energy generated will come with Renewable Energy Certificates (RECs), which SingPost can use to offset its Scope 2 carbon emissions. These refer to indirect greenhouse gas emissions associated with the purchase of electricity, as well as steam, heat or cooling.
SingPost will claim the RECs generated by the system — approximately 1,150 units annually — as they are owned by SingPost and not Sembcorp.
See also: SingPost books valuation gain while underlying transformation stays on track
The new solar PV system comes two-and-a-half years after SingPost installed solar panels at its Regional eCommerce Logistics Hub at Tampines Logistics Park. There, solar panels installed by Sembcorp Solar generate about 25% of the building’s total annual electricity consumption, equivalent to the energy usage of some 321 four-room HDB flats in Singapore per year.
SingPost has set targets to achieve net-zero (Scope 1 and 2) carbon emissions for its Singapore operations by 2030. The company aims to reach net zero (Scope 1, 2 and 3) for its global operations by 2050.
According to SingPost’s sustainability report for FY2024 ended March 31, its Singapore operations generated 14,712 tonnes of carbon dioxide equivalent (tCO2e) in Scope 1 and 2 emissions combined. This is 5% lower y-o-y and 14.1% lower than two financial years prior.
SingPost’s Scope 1 and 2 emissions, by market, in FY2022, FY2023 and FY2024 (left to right)
SingPost began retiring RECs in FY2023, with 1,142MWh claimed. This rose to 1,345MWh in FY2024.
SingPost Centre, located right beside Paya Lebar MRT Station, features a retail mall with a gross floor area of 269,000 sq ft and more than 500,000 sq ft of prime office space. It was last valued at $1.1 billion in March, unchanged from six months prior.
Following a strategic review that began in May 2023, SingPost group CEO Vincent Phang said in March that SingPost Centre is a “non-core asset” that could be divested, without providing a timeline.
Photos and table: SingPost
