LYS Energy to mount rooftop solar for HG Metal Manufacturing in Singapore
- Singapore-based independent power manufacturer LYS Energy Group has actually been acquired to install a 936.84-kWp solar array for local steel representative HG Metal Manufacturing Ltd
The roof setup will contain 2,059 solar panels supplied by JA Solar, which will generate a total of 1,031.5 MWh of power a year. The project is due to be completed by the third quarter of 2021.
The range will cover between 60% and 70% of the company's annual energy demand and is anticipated to save approximately SGD 3.1 million (USD 2.3 m/EUR 1.9 m) in prices over a 20-year duration.
The system will certainly operate under a power purchase contract (PPA) with LYS Energy, without HG Metal Manufacturing needing to make any type of ahead of time financial investments.
The steel company will additionally benefit from offering the excess power to the national grid as part of the Energy Market Authority's (EMA) Improved Central Intermediary Scheme.