Financing Agreement Signed for Rooftop Solar Power Project in Singapore
TOKYO, June 5, 2025 /PRNewswire/ -- Tokyo Electric Power Company Holdings, Inc. (hereinafter "TEPCO HD") is pleased to announce that a Special Purpose Vehicle (hereinafter "SPV"), established by TEPCO HD and ESR Group Limited*1 (hereinafter "ESR"), has on May 15, 2025 entered into a financing agreement with Bank SinoPac (incorporated in Taiwan with Limited Liability)*2 as a lender. In accordance with the agreement, 9.5 million Singapore dollars (approximately 1.1 billion yen) will be provided to finance the development of approximately 10 MW (10,000 kW) of rooftop solar power capacity in Singapore in the form of portfolio asset project financing*3, with this amount to be increased to a maximum of 35 million Singapore dollars (approximately 3.9 billion yen), envisioning a future development totaling 40MW (40,000 kW). The financing agreement will be utilized by the SPV for developing and implementing rooftop solar power projects and will mark the first agreement of its kind for the TEPCO Group.
Further to TEPCO HD's announcement on September 22, 2023, TEPCO HD is delighted to announce that the SPV has entered into power purchase agreements with multiple electricity users, which will enable TEPCO HD to achieve its plans to develop rooftop solar power facilities with a total capacity of 100 MW (100,000 kW) in the Asia-Pacific region. The solar power facilities will contribute to an increase in small-scale/distributed renewable energy sources that will in turn aid the creation of a carbon neutral society.
In addition, through its fully owned subsidiary TEPCO Global Energy Pte., Ltd., TEPCO HD has set its sights beyond Asian countries such as Singapore, to Australia, which has a significant active power market, where it plans to introduce storage batteries and energy management systems under the initiative of "TEPCO Area Energy Management."
TEPCO HD will continue to work in tandem as "one team" with ESR to leverage renewable energy solutions to provide net zero carbon emission properties to customers across the Asia-Pacific region to advance decarbonization goals and enable sustainable development.
*1 ESR Group Limited (ESR) |
*2 Bank SinoPac (BSP) |
*3 Portfolio asset project financing: Method of funding a project that comprises multiple facilities by using project cash flow and assets as collateral. |
About TEPCO
Tokyo Electric Power Company Holdings, Inc. (TEPCO HD) is Japan's largest power company group and comprises four independent business entities: TEPCO Fuel & Power, Inc., TEPCO Power Grid, Inc., TEPCO Energy Partner, Inc., and TEPCO Renewable Power, Inc. The Group generates, distributes and sells electricity and other types of energy principally in Japan's Kanto region, which includes its two most populous urban centers, Tokyo and Yokohama. The 38,121 employees of TEPCO HD and its consolidated subsidiaries (as of March 31, 2024) are committed to providing safe, reliable power as well as fulfilling their responsibilities to communities.
TEPCO Group is expanding its renewable energy business, including the provision of hydro-electric and wind power, and its power transmission and distribution business in markets around the world. It has set a new strategic goal of making entire cities and areas carbon-neutral. TEPCO Group aims to deliver renewable energy stably and efficiently to end users by leveraging its technology and expertise.
- TEPCO website: https://www.tepco.co.jp/en/hd/index-e.html
- TEPCO Facebook page: https://www.facebook.com/OfficialTEPCOen
- TEPCO X page: https://x.com/TEPCO_English
View original content:https://www.prnewswire.com/apac/news-releases/financing-agreement-signed-for-rooftop-solar-power-project-in-singapore-302474140.html
SOURCE Tokyo Electric Power Company Holdings, Inc.