Singapore, 19 July 2018 – Cleantech Solar, the regional leader in solar energy solutions for corporate customers in Asia, enters into a long-term rooftop solar power partnership with leading semiconductor manufacturer GLOBALFOUNDRIES (GF) to deploy a 4.5 MWp on-site rooftop solar system.
Under the terms of the solar Power Purchase Agreement (PPA), Cleantech Solar will undertake full turn-key financing, design, installation, and full-life operation and maintenance of the system. The contracted 4.5 MWp solar photovoltaic (PV) system is expected to become fully operational by the third quarter of 2018. The system will cover the rooftops of all four semiconductor fabrication plants of GF’s Singapore Woodlands facility. The system is estimated to deliver 5.6 GWh of clean energy annually.
GF will benefit from on-site solar energy generated from the PV system at a pre-agreed tariff structure over the next 25 years, enabling the company to make a significant contribution towards reduced emissions, without having to invest its own capital in the system, but also without having to distract resources from its core business of delivering market-leading semiconductor solutions.
Raju Shukla, Chairman of Cleantech Solar said:
“Singapore has established itself as a hub for many semiconductor companies. In line with many other sectors, the semiconductor industry is increasingly focused on emission reductions and climate impact. However, it is also an industry that demands the highest standards of engineering and design integrity and we are extremely pleased to have been selected to accompany GF on this journey.
This is especially relevant in the context of 2018 as the Year of Climate Action in Singapore. We are pleased to add GF to our corporate customer list which now numbers over 100 MWp of solar PV systems.”
KC Ang, SVP & GM of GF Singapore said:
“GF is dedicated globally to ethical, responsible business practices and environmental stewardship. I am delighted that once more, we are reaffirming the company’s leadership position with a landmark rooftop solar project in Singapore. I am also delighted that we are partnering Cleantech Solar who shares our values and with whom we can deliver our vision to reshape the semiconductor industry through collaboration and innovation. Solar-as-a-service fits well with our strategic objectives and we look forward to a successful, long-term partnership with Cleantech Solar.”
About Cleantech Solar (cleantechsolar.com)
Cleantech Solar is a pan-Asia solar developer who invests, owns and operates solar PV plants with a focus on long-term partnerships with leading companies in the Commercial and Industrial sector.
Headquartered in Singapore and with a track record of over 100 sites and 100 MWp over Asia, Cleantech Solar combines the capabilities of a global player without compromising on responsiveness or agility, offering customers a unique combination of:
- the leading engineering team in the industry with dozens of expert PV engineers
- an exceptionally strong balance sheet and funding pipeline
- experienced local teams in all markets ready to deliver high-performance projects for customers
- shared values with leading multinationals, ensuring lasting relationships
These assets combined with a steadfast focus on customers enable Cleantech Solar to deliver safe, seamless and repeatable solar outcomes for corporations on their transition towards sustainable and clean energy.