Skip to main content

Advertisement

Advertisement

REC firms up S$250m investment plan in S’pore

SINGAPORE — Solar panel producer REC unveiled plans yesterday to invest S$250 million in the Republic, comprising S$200 million for automation and technology upgrading and another S$50 million in research and development collaboration.

SINGAPORE — Solar panel producer REC unveiled plans yesterday to invest S$250 million in the Republic, comprising S$200 million for automation and technology upgrading and another S$50 million in research and development collaboration.

The automation and technology upgrading involves fully converting all 1.3GW of its solar modules capacity in Singapore to TwinPeak production, with the panels yielding the highest energy efficiencies compared to any other multi-crystalline panels that are mass produced today.

REC added that its recent 2.2MW TwinPeak installation in Singapore can generate an additional 157MWh of clean energy annually compared to standard panels. The additional clean energy produced by TwinPeak panels can power up to 38 HDB five-room flats yearly or the equivalent of 1,088 light bulbs. It is also able to mitigate an additional 80 tonnes of carbon dioxide annually, an amount that takes the planting of 3,200 new trees to offset, said the company.

“With such a strong commitment to cleantech innovation, Singapore is the ideal location for REC to channel new innovations and push the boundaries for solar solutions,” said Mr Steve O’Neil, CEO of REC, at an event at its manufacturing facility at Tuas. The event was attended by Minister for Trade and Industry (Industry), Mr S Iswaran.

Singapore is aiming to increase solar deployment from the current 47MWp to provide about 350MWp of electricity by 2020. By 2030, it is estimated that renewable energy could potentially contribute up to 8 per cent of Singapore’s peak electricity demand.

REC’s investment, said Mr Iswaran, reflects Singapore’s continued attractiveness as a manufacturing sector for clean energy systems and also is a testament to the competitiveness of the broader advanced manufacturing sector, which contributes close to 20 per cent of the Republic’s GDP.

“Singapore’s manufacturing sector is evolving rapidly to take on the new wave of innovations and capabilities around robotics, 3D printing and the industrial internet of things,” he added.

REC will inject S$50 million in a strategic R&D collaboration with the Solar Energy Research Institute of Singapore (SERIS) to develop a novel solar panel with 350W power over the next five years. Based at the National University of Singapore (NUS), Singapore’s flagship solar energy laboratory, this technological breakthrough, according to the company, will generate 1.35 times more energy at a comparable cost and size to standard multi-crystalline modules.

Said Prof Armin Aberle, CEO, SERIS: “Collaborations between university institutes and industry are very beneficial for growing the solar sector, especially when it comes to developing and commercialising new technologies. With REC on board to further the green agenda in Singapore and the region, we believe this will stimulate other companies to follow suit and enhance their R&D investments to address the issues of climate change and dwindling resources.”

Read more of the latest in

Advertisement

Advertisement

Stay in the know. Anytime. Anywhere.

Subscribe to get daily news updates, insights and must reads delivered straight to your inbox.

By clicking subscribe, I agree for my personal data to be used to send me TODAY newsletters, promotional offers and for research and analysis.