Sabana Industrial REIT announced the completion of its dual-phase project with Keppel’s Energy-as-a-Service arm, Keppel EaaS, to install solar panels atop nine of the REIT’s properties.
In March 2023, the REIT entered into agreements with Keppel EaaS, to implement sustainability solutions and initiatives across the REIT’s selected portfolio properties. Apart from the solar panels, the agreements include the installation of electric vehicle charging stations within the REIT’s portfolio. In addition, Sabana Industrial REIT and Keppel EaaS also signed a Sustainability Partnership MoU. Under the terms of the MoU, the REIT will leverage Keppel EaaS to work towards becoming one of Singapore’s first carbon neutral Industrial REITs by 2040.
As at Dec 31, 2024, all installations have been turned-on and are fully operational.
This marks a significant milestone in the REIT’s sustainability journey, as the majority of the REIT’s properties under the property manager’s operational control are now capable of generating renewable energy. In total, these properties have an overall installed capacity of 7.6 Megawatt peak (MWp) that will potentially generate more than 9,000 Megawatt-hours (MWh) per year – sufficient to power over 2,700 three-room HDB flats for a year.
Achieved over the span of two phases, Phase 1 of this partnership involved the installation of solar panels at 10 Changi South Street 2, 34 Penjuru Lane, 3A Joo Koon Circle and Sabana@1TA4. Phase 2 involved 2 Toh Tuck Link, 8 Commonwealth Lane, 23 Serangoon North Avenue 5, 39 Ubi Road 1 and 51 Penjuru Road. Four of these properties currently contribute about two-thirds to the total output, led by 34 Penjuru Lane.
Specific to the REIT’s crown jewel – 151 Lorong Chuan, and another of its portfolio’s high specification asset – 508 Chai Chee Lane, which currently are not equipped with renewables capability, the manager will continue its investment on advanced M&E equipment to further enhance and improve the overall energy efficiency of these buildings.
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Donald Han, CEO of the manager says: “Over the longer term, the REIT is not only well-poised to support our tenants by operating in a more environmentally sustainable manner, we are also able to move towards reducing our Scope 2 emissions, benefiting the environment. We remain confident that the REIT is being progressively future-proofed to support our tenants and well on track to become one of Singapore’s first carbon neutral industrial REITs by 2040.”
Lim Yong Wei, executive director, core markets, EaaS, Infrastructure, Keppel says: “With a combined capacity of 7.6MWp on the rooftop of Sabana Industrial REIT’s properties, this project success showcases Keppel’s capabilities in the design and execution of on-site renewable energy generation.”
As at Feb 4, units in Sabana Industrial REIT closed at 36 cents, while shares in Keppel closed at $6.63.
