LYS Energy to Install Rooftop Solar For HG Metal Manufacturing in Singapore
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Singapore-based independent power producer LYS Energy Group has been contracted to install a 936.84-kWp solar array for local steel distributor HG Metal Manufacturing Ltd.
The rooftop installation will consist of 2,059 solar panels provided by JA Solar, which will produce a total of 1,031.5 MWh of power a year. The project is due to be completed by the third quarter of 2021.
The array will cover between 60% and 70% of the company’s annual energy demand and is expected to save up to SGD 3.1 million (USD 2.3m/EUR 1.9m) in costs over a 20-year period.
The system will operate under a power purchase agreement (PPA) with LYS Energy, without HG Metal Manufacturing needing to make any upfront investments.
The steel company will additionally benefit from selling the excess power to the national grid as part of the Energy Market Authority’s (EMA) Enhanced Central Intermediary Scheme.
(SGD 1.0 = USD 0.753/EUR 0.621)
Source: renewablesnow
