PVTIME - Sunseap Group has signed a multi-year virtual power purchase agreement (VPPA) with Facebook for solar energy from the Republic's largest offshore floating solar farm in the Straits of Johor.
The energy from the five MWp offshore floating photovoltaic system will be exported to the national grid. All renewable energy credits (RECs) from project will be transferred to Facebook under the VPPA and will support the tech company's operations in Singapore, including Facebook's first custom-built data centre in Asia.
A VPPA is a contract structure in which a buyer agrees to purchase a project's renewable energy for a pre-agreed price. The energy can be produced from a renewable energy project that is located away from the premises of the buyer, but co-located on the same grid.
The agreement signed with Facebook is Sunseap's second VPPA with the tech company since October 2020—Sunseap and Facebook also have an agreement for renewable energy exported from solar systems installed on more than 1,200 rooftops.
Mr Lawrence Wu, Co-founder and President of Sunseap Group said: "We are very pleased to be working with Facebook for a second VPPA. This partnership is another significant step for Sunseap towards helping corporations meet their sustainability goals.
"We are grateful for the leadership shown by companies like Facebook in seriously embracing sustainability, whether through reducing waste or minimising and offsetting their carbon emissions."
Urvi Parekh, Head of renewable energy at Facebook said: "We are thankful for this partnership with Sunseap that is helping us bring new solar energy to the Singapore grid in support of our operations in the area. This is our first floating solar project, so we're particularly excited to support an innovative technology that will help bring more renewable energy projects online."