Peak Energy Development Pte Ltd. (“Peak Energy”), a leading renewable energy developer and independent power producer with operations across Asia, has acquired a 1MW solar rooftop installation in Singapore, further expanding its renewable energy portfolio.
In parallel, Peak Energy has entered into a Virtual Power Purchase Agreement (vPPA) contract with Arkema Pte Ltd. (“Arkema”), a global leader in specialty materials production, for its Symphony Plant located on Jurong Island, the world’s largest integrated bio-factory. Through this agreement Peak Energy will help Arkema achieve its Science Based Targets initiative (SBTi)-approved goal of a 48.5% reduction in Scope 1 + 2 greenhouse gas (GHG) emissions by 2030, compared with 2019 levels.
This strategic acquisition and vPPA agreement underscore Peak Energy’s commitment to expanding its presence in Singapore, one of the most dynamic markets for renewable energy in Asia, and in the Asia Pacific region in general, focusing in particular on the B2B segment.
Operational since 2023 and located on the roof of Matco Asia Pte. Ltd., a Singapore-based valve automation company, the facility generates around 1 GWh of clean energy annually.
“Peak Energy is dedicated to helping corporates, such as Arkema, reduce their power costs and carbon footprint in a sustainable way. This acquisition and agreement will support our growth in the region, whilst also contributing to Singapore’s ambition of achieving net zero emissions by 2050,” stated Gavin Adda, CEO at Peak Energy
“Sustainability is a core pillar of Arkema’s strategy, and this partnership with Peak Energy is an important step toward achieving our Scope 2 goals for the Jurong Island Plant. By adopting renewable energy solutions, we are strengthening our commitment to environmental responsibility while supporting Singapore’s energy transition,” said Zoeline Xu, APOC Energy Transition cum Strategic Purchasing Manager at Arkema.
Peak Energy Acquires Solar Rooftop Project In Singapore
