Tokyo Electric Power Company Holdings, Inc. (TEPCO HD) and ESR Group have secured SGD 9.5 million (approx. JPY 1.1 billion) in financing from Bank SinoPac to develop rooftop solar power projects in Singapore, marking TEPCO Group’s first portfolio asset project financing arrangement.
The funding will support the installation of 10 MW of rooftop solar capacity, with provisions to scale up the facility to SGD 35 million to support the development of up to 40 MW. The financing will be used by a Special Purpose Vehicle (SPV) jointly established by TEPCO HD and ESR.
This initiative is part of TEPCO HD’s broader plan to install 100 MW of rooftop solar facilities across the Asia-Pacific region. The SPV has entered into power purchase agreements with several electricity users, reinforcing its renewable energy rollout in urban and commercial settings.
TEPCO Global Energy Pte. Ltd., a wholly owned TEPCO subsidiary, is leading the regional expansion and is also targeting Australia for energy storage and energy management solutions under its “TEPCO Area Energy Management” initiative.
The project supports TEPCO’s long-term goal of expanding its renewable energy portfolio and increasing distributed energy sources to contribute to carbon neutrality.
The company is leveraging ESR’s expertise in logistics and infrastructure and Bank SinoPac’s track record in financing green energy projects in Asia to implement this initiative.
Bank SinoPac has previously supported over ten renewable energy projects in markets such as Vietnam, Cambodia, and Hong Kong.
The partnership underscores TEPCO’s commitment to sustainable development and its strategy to scale clean energy solutions across Asia through collaborative investments in infrastructure and renewable power generation.
Business News Asia