S’pore’s first solar leasing project kicks off in Punggol

Forty-five HDB blocks in Punggol will be fitted with solar panels by the middle of next year, in Singapore’s first solar leasing project.

The solar power generated panels will be used to power services in common areas such as lift operations, corridor and staircase lightings, and water pumps.

This makes up 10 per cent of total block usuage.

Private company Sunseap Enterprises will finance the design, maintenance and installation of the two mega-watt peak solar system.

HDB will cover 30 per cent of the start up costs at S$3.28 million, while the remaining costs will be covered by Pasir Ris-Punggol Town Council’s monthly payment for solar power, over the next 20 years.

But this will be lower than what the council usually pays for electricity because the price of solar power is at a 1 per cent discount from Sunseap Enterprises.

“At the moment, solar power generation is still likely to be more expensive than generation of energy from the usual power plants. But in time to come we envisage if we can do more of solar power generation, the cost is likely to come down,” said Dr Cheong Koon Hean, CEO of HDB.

Source : Channel NewsAsia – 15 Sep 2011

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