FRASERS Property : TQ5 0% is tying up with SP Group to install close to 4,500 square metres (sq m) of solar panels across seven of its retail and commercial properties in Singapore.
The properties are Alexandra Technopark, Causeway Point, Century Square, Hougang Mall, Northpoint City (North Wing), Tampines 1 and White Sands, Frasers Property said in a statement on Tuesday (Apr 9). Both parties had inked a partnership agreement.
Alexandra Technopark is held by Frasers Logistics & Commercial Trust : BUOU 0%; the remaining properties are retail malls held by Frasers Centrepoint Trust : J69U 0%.
The move brings the acreage of solar panels in 10 of Frasers Property’s owned or managed retail and commercial properties to 14,250 sq m.
They expect the solar panels to supply an average of 2 per cent of the energy needs of the participating buildings and generate around 920,000 kilowatt-hours of electricity per year – enough to power 450 four-room Housing Development Board (HDB) flats.
This could also result in S$220,000 in annual energy cost savings and cut more than 370 tonnes of carbon emissions yearly – similar to removing 80 cars from the road.
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Under the tie-up, SP Group will manage the design, supply, delivery, installation, testing and commissioning of the solar photovoltaic system in the properties. This will be completed by the end of 2024.
Frasers Property Singapore chief executive Soon Su Lin said: “This latest collaboration with SP Group in the solarisation programme across seven of our retail and commercial properties underscores Frasers Property’s commitment to reach net-zero carbon by 2050, and is aligned with the nation’s solar power deployment target of at least 2,000 megawatt-peak by 2030.”
