Singapore-based Peak Energy has signed a 14-year power purchase agreement (PPA) with the Singapore Institute of Management (SIM) to supply approximately 1,100 MWh of solar electricity annually to SIM’s Clementi Road campus.
Under the agreement, Peak Energy will design, finance, build, own and operate an approximately 900 kWp on-site solar installation. SIM will purchase the electricity generated by the system under the long-term PPA, while Peak Energy will remain responsible for the operation and maintenance of the installation throughout the contract period. The project will enable SIM to use renewable electricity without making any upfront capital investment.