Terrenus Energy has secured around SGD300 million in green financing from a consortium of five banks, led by DBS in Singapore. The green loan will fund the installation of photovoltaic (PV) panels on around 1,200 public housing blocks and 57 government sites, along with various commercial and industrial facilities.
The consortium comprises of Mizuho Bank, Siemens Financial Services via Siemens Bank GmbH Singapore Branch, Shanghai Pudong Development Bank Company Limited Singapore Branch, and China Construction Bank Corporation Singapore Branch. The initiative will support Singapore’s ambition to achieve at least 2 GWp of installed solar capacity by 2030.
The project will install PV panels to supply power to common areas in the designated sites, and proprietary smart power meters will be used in selected public housing estates to monitor and track energy consumption patterns under the Housing & Development Board’s (HDB) SolarNova programme. Surplus energy generated will be fed into the national grid.