Bookmark & Share
Collectively, the solar farms can generate about 10,292 megawatt hours of energy annually, which is equivalent to powering around 2,300 four-room HDB flats each year.
CapitaLand has partnered Sembcorp Industries to install around 21,240 solar panels on the rooftops of six CapitaLand buildings by end-2019.
When completed, the installation will form the biggest combined rooftop solar facility by a real estate firm in Singapore.
The CapitaLand buildings are located at 1 Changi Business Park Avenue 1, 2 Senoko South Road, 9 Changi South Street 3, 40 Penjuru Lane, LogisTech and Techpoint. They are held under Ascendas Real Estate Investment Trust (Reit), the business space and industrial Reit of CapitaLand.
Collectively, the solar farms can generate about 10,292 megawatt hours of energy annually, which is equivalent to powering around 2,300 four-room HDB flats each year.
In a release, CapitaLand noted that the energy generated through the renewable source will significantly lower the company’s carbon footprint.
“The combined rooftop solar facility will avoid over 4.3 million kg of carbon emissions each year,” it said.
“These latest efforts will also bring the group closer to its new sustainability targets to generate at least 20 percent energy consumption from renewable energy for its enlarged global portfolio by 2025.”
Meanwhile, CapitaLand revealed that it has also inked a new sustainability-linked loans with Credit Agricole Corporate & Investment Bank, Natixis Bank and Societe Generale to raise a total of $300 million.
“After securing the first and largest sustainability-linked loan in Asia’s real estate sector last year, we are now even more convinced that good sustainability practices can reap positive tangible benefits for business,” said Andrew Lim, group chief financial officer at CapitaLand Group.
The five-year multicurrency sustainability-linked loans will see interest rates lowered based on CapitaLand’s achievements of social, governance and environmental metrics.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
Related Articles:
CapitaLand Mall Trust still Singapore’s biggest mall landlord