Auction Success: EDP Renewables Wins Largest Public Solar Tender in Singapore
Oviedo, Spain - EDP Renewables, through its Asian subsidiary EDP Renewables APAC, has been awarded Phase 8 of the Solar Nova program through a competitive bidding process.
Under the award, EDP Renewables is committed to deliver a minimum tender capacity of 130 MWp, with the potential to reach 200 MWp of solar capacity with this project. More than 320,000 solar panels are expected to be installed on 1,075 public residential buildings in Singapore and 101 government buildings, including 55 public schools, as part of the project realization.
This is the third Solar Nova tender that EDPR has won, and it will also serve as a platform to test new innovative concepts such as Advanced Regeneration, which can extend the life of a solar panel by up to five years and maximize power generation.
Singapore's national climate target is to achieve net-zero emissions by 2050, and the expansion of solar energy is one of the key pillars for this ambitious agenda.
The Housing & Development Board (HDB) is Singapore's public housing authority. It plans and develops Singapore's housing estates. Launched in 2014, the Solar Nova Program is a whole-of-government initiative led by the Economic Development Board (EDB) and HDB to accelerate the deployment of solar PV in Singapore. Under the Solar Nova Program, the HDB is pooling demand from the public sector to install solar panels in HDB blocks and government sites. After surpassing its previous solar target of 220 MWp by 2020, HDB announced a new solar target of 540 MWp by 2030 in 2019.
The EDP Renewables share lost 6.6 percent to EUR 12.38 on the first three trading days of this week (closing price, 28.02.2024, Stuttgart Stock Exchange).
Source: IWR Online, 29 Feb 2024
