The Singapore Institute of Management (SIM) has entered into a 14-year power purchase agreement (PPA) with clean energy platform Peak Energy for the installation of an approximately 900 kWp on-site solar PV system at its Clementi Road campus in Singapore. Under the agreement, Peak Energy will design, finance, build, own, operate and maintain the system, while SIM will purchase the electricity generated at a rate at least 45 per cent lower than its current electricity prices.
The solar installation is expected to generate approximately 1,100 MWh of clean electricity annually. The project will be delivered without upfront capital investment by SIM, with Peak Energy retaining responsibility for the system’s installation, operation and maintenance throughout the 14-year PPA period.
The project forms part of SIM’s sustainability initiatives and is expected to reduce its reliance on grid electricity while providing greater long-term electricity cost certainty. The partnership also reflects the increasing adoption of on-site solar by educational institutions and other organisations in Singapore to reduce electricity costs and carbon emissions.