AIMS APAC REIT is working with SP Group to install 20,157 rooftop solar panels on six of the REIT’s assets across Singapore.
The six properties are 20 Gul Way, 27 Penjuru Lane, 30 Tuas West Road, 103 Defu Lane, 8 & 10 Pandan Crescent and 8 Tuas Avenue 20.
It will be one of the largest rooftop solar installations by any Singapore-listed REIT, said AIMS APAC REIT.
The solar panels will collectively produce 14,500 Megawatt-hours (MWh) of energy per year.
The solar energy generated from the combined rooftop solar PV system is recognised as a renewable energy source and the REIT will receive all the renewable energy certificates (RECs) associated with the green energy generated.
These RECs can be used to offset carbon emissions by the REIT as well as support its tenants in their emission reduction efforts.
“We are also proactively reviewing our portfolio to identify measures and potential opportunities to reduce the brown energy consumption and carbon footprint across our properties”, said Russell Ng, CEO of AIMS APAC REIT.
Additionally, the REIT and SP are also exploring the feasibility of introducing more sustainable energy solutions in the former’s asset portfolio.
AIMS APAC REIT was last done on the Singapore Exchange at SGD1.36, which presently implies a distribution yield of 6.71% according to data on the Singapore REITs table.