Tokyo Electric Power Company Holdings Inc (TEPCO) and ESR Group Limited have announced a significant financing agreement with Bank SinoPac to develop rooftop solar power projects in Singapore. The agreement, signed on 15 May 2025, will initially provide $95m (approximately 11 billion yen) to fund the development of 10 MW of solar capacity, with potential expansion to 40 MW.
The Special Purpose Vehicle (SPV) formed by TEPCO and ESR will utilise the funds to implement these projects, marking the first such agreement for the TEPCO Group. This initiative aligns with TEPCO’s broader strategy to expand its renewable energy footprint across the Asia-Pacific region, aiming for a total capacity of 100 MW.
TEPCO has also secured power purchase agreements with multiple electricity users, facilitating the integration of small-scale, distributed renewable energy sources. This move is part of TEPCO’s commitment to creating a carbon-neutral society.
Beyond Singapore, TEPCO plans to extend its renewable energy initiatives to Australia, focusing on storage batteries and energy management systems. The collaboration with ESR aims to leverage renewable energy solutions to provide net-zero carbon emission properties, advancing decarbonisation goals across the region.
This project is a step forward in TEPCO’s strategy to deliver renewable energy efficiently and sustainably, contributing to its goal of making entire cities and areas carbon-neutral.
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