Sembcorp Industries has successfully commissioned Southeast Asia’s largest Energy Storage System (ESS) of 285MWh within six months. The group was appointed by the Energy Market Authority (EMA) to develop the facility on Jurong Island in June.
The facility has a contracted capacity to store and deliver 200MW of power for one hour. This will be sufficient to meet the daily electricity needs of nearly 17,000 four-room Housing & Development Board (HDB) flats in a single discharge, based on the average household consumption in 2019.
According to Sembcorp, ESS is key to supporting solar deployment and enhancing grid reliability and energy supply security in Singapore. The group is one of Asia’s largest ESS operators with a battery storage portfolio of 501MW / 709MWh in Singapore and the UK.
The ESS will be accretive to earnings but it’s not expected to have a material impact on Sembcorp’s earnings per share (EPS) and net asset value (NAV) per share for the FY2022 and FY2023 ending Dec 31 and Dec 31, 2023.
Shares in Sembcorp closed 3 cents higher or 0.89% up at $3.41 on Dec 22.
