Key benefits:
- Constant and competitive energy price during peak periods for 25 years
- Green energy generated from floating PV system will be able to meet day-to-day operational needs of five local waterworks and Marina Barrage
- No need to own and operate the solar project themselves
About the customer
PUB is a statutory board under the Ministry of the Environment and Water Resources. It is an integrated water utility that is responsible for supplying good water, reclaiming used water and taming storm water in Singapore.
The customer challenge
Despite having limited renewable energy options, Singapore has made firm commitments to reducing its greenhouse gas emissions and carbon footprint. Solar power is the country’s most viable renewable energy source. In such a densely populated country with limited land, the emerging technology of floating PV offers an attractive way to optimize the use of space while increasing the level of green energy.
DNV’s solution
In this first utility-scale public tender for floating PV in south-east Asia, DNV provided technical support to PUB throughout the tender preparation, bid evaluation, development of contract agreements and will be providing further support during design, construction and operational phases of the project. DNV’s local energy experts have been tasked with carrying out preliminary design, independent energy assessment, technology benchmarking and business model studies which have now been completed. DNV will also carry out design reviews, testing and commissioning reviews during the construction phase as well as performance analysis and site testing when the project is operational.
Benefits to the customer
PUB has been able to secure a Power Purchase Agreement (PPA) that allows it to procure energy at a constant and competitive price during the daytime, for a 25-year period. The PPA also specifies that all environmental attributes arising from the floating solar project belong to PUB, and the green energy generated from the solar plant is able to meet the day-to-day operational needs of five local waterworks and Marina Barrage. Finally, PUB was able to strike this deal under a design, build, own and operate model, allowing the private sector to better select and optimise configuration of solar technologies for enhanced efficiency.