The contract is the first of its kind within the bulk liquid transportation, storage and distribution industry in Singapore. Under the terms of the agreement, the 187 kilowatt peak (kWp) rooftop PV installation will incorporate close to 700 REC TwinPeak Series panels. It is the first time that the new REC TwinPeak Series product line has been selected for a rooftop project in Singapore.
Stolthaven Singapore is one of 20 bulk-liquid terminals operated by Stolt-Nielsen Limited, a global provider of integrated transportation, storage and distribution solutions for chemicals and other bulk-liquid products. The REC TwinPeak Series features 120 half-cut multicrystalline cells, four bus bars, passivated emitter rear cell (PERC) technology, and a split junction box. According to REC, these technologies enhance power output by around 10 Wp per panel.
REC has been offering Power Purchase Agreements (PPAs) to local commercial and industrial businesses since October 2014. Under the PPA model, REC will absorb the investment and maintenance costs of installing solar systems on rooftops leaving only the payment for the consumed solar energy generated from rooftops. The pricing for the generated energy will be set at an agreed rate that is fixed for the next 25 years, offering a stable and predictable energy cost in the long term and offsetting thousands of tons of carbon dioxide.
“As a leading global provider of solar energy solutions, REC is at the cutting edge to leverage the potential of solar energy in Singapore and Southeast Asia” said Mr. Steve O’Neil, Chief Executive Officer of REC. “As part of our business strategy, we are not only expanding our production capacity in Singapore to 1.3 GW and increasing our solar footprint in this booming region, but are also offering new financial solutions to further tap on solar’s potential. Selling power directly to businesses and industries dovetails with our strategy.”
Guy Bessant, President of Stolthaven Terminals, added that the array will provide Stol Nielsen with a cost effective solution which will generate power in an environmentally friendly manner, consistent with the company’s goals as a socially responsible business.
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