The Singapore Institute of Management (SIM) has signed a 14-year power purchase agreement (PPA) with renewable energy developer Peak Energy for the installation of an approximately 900 kWp rooftop solar system at its Clementi Road campus.
Under the agreement, Peak Energy will design, finance, build, own and operate the onsite solar installation, while SIM will purchase the electricity generated by the system under the long-term PPA. The project requires no upfront capital investment from SIM, with Peak Energy responsible for the system’s operations and maintenance throughout the contract period.
The solar installation is expected to generate approximately 1,100 MWh of electricity annually. According to the organisations, the agreement is expected to enable SIM to procure solar power at a rate at least 45% lower than its prevailing grid electricity prices.
The project comes as organisations in Singapore continue to explore long-term renewable energy procurement strategies amid rising electricity demand and fluctuating energy prices. Onsite solar installations are also gaining traction among educational institutions and commercial facilities seeking to reduce electricity costs and support sustainability objectives.
Headquartered in Singapore, Peak Energy develops, owns and operates renewable energy assets across the Asia-Pacific region. The company currently has more than 300 MW of operating renewable energy assets and a development pipeline of approximately 2 GW, spanning markets including Japan, South Korea, Australia, Taiwan, the Philippines, Thailand, Singapore and Indonesia.
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