DBS Bank provides SGD40 million loan facility to Sembcorp Industries for Singapore's first single large-scale floating solar photovoltaic system
The project is one of the world’s largest, inland floating solar photovoltaic systems to date and DBS is the sole financier for the project.
Singapore, 20 Aug 2020 - DBS Bank has provided a SGD40 million loan facility to Sembcorp Industries (Sembcorp) to build a 60 megawatt-peak (MWp) floating solar photovoltaic (PV) system on Tengeh Reservoir in Tuas. The bank is the sole financier for the project.
Scheduled to be completed in 2021, the project will be Singapore’s first single large-scale floating solar PV system as well as one of the world’s largest, inland floating solar PV systems. Awarded by PUB in February, the project will cover an area of around 45 football fields and generate enough energy to power about 16,000 four-room HDB flats for a year, offsetting about 32 kilotonnes of carbon emissions annually – equivalent to taking approximately 7,000 cars off the roads.
