NEWS & EVENTS

Solargy managing director Albert Lim(left) guides a homeowner on the solar panel installation process. Solargy is a partner of UOB’s U-solar programme. Photo: UOB

UOB said its solar financing programme U-Solar has facilitated the generation of close to 160 gigawatt hours of solar power across Asean since its launch in October 2019.

This has helped to reduce more than 77,200 tonnes tCO2e (Tonne CO2-equivalent), a standard unit for measuring greenhouse gas (GHG) emissions, said the bank.

In a press statement on Monday, the bank estimated that the programme's GHG emission reduction is equivalent to having close to 1.3 million new tree seedlings grow over 10 years or taking close to 17,000 cars off the road for a year.

"Through initiatives such as U-Solar, Asia's first solar industry ecosystem, we provide a platform that helps drive the development of the solar power industry and promotes the use of renewable energy," said UOB head of group wholesale banking and markets Frederick Chin.

"Together with our partners and customers, we will accelerate the region's progress to a lower-carbon economy and forge a sustainable future for a better Asean," he added.

The regional U-Solar programme connects Asian businesses and individuals with the lender's solar company partners to help clients go green by switching to solar power. It is available in Singapore, Malaysia, Indonesia and Thailand, and is part of the UOB Smart City Sustainable Finance Framework.

Through the programme, UOB offers businesses and consumers financial solutions to encourage the development and adoption of solar power. This includes providing cash management and green financing to solar project developers, as well as end-to-end contract-based financing solutions to engineering, procurement, construction and commissioning contractors.

The bank has a total of 14 U-Solar partners across the region, including PT Selaras Daya Utama in Indonesia, Pekat Solar Sdn Bhd in Malaysia, and BECIS-Symbior in Thailand.

View the source article here: http://www.businesstimes.com.sg/banking-finance/uob-says-u-solar-programme-saved-over-77200-tonnes-of-greenhouse-gas-emissions

On the 12 of March 2021, we commissioned our first solar project where close to 1000 pcs of Tigo Rapid Shutdown devices were fitted to the solar panels for increase electrical and fire safety performance. The Tigo Smart platform enables dc power shut down and online monitoring up to each module level. Our discerning client, Firmenich, expressed satisfaction for a job well done.

SolarGy is proud to receive this Letter of Appreciation from Minister Zaqy. Installing 750 solar panels during the circuit breaker period was indeed challenging in terms of procurement of equipment and materials but even more so when it comes to the physical installation works as all of our foreign workers were still quarantined at the dormitories. This created an opportunity for our engineers to be really hands on as they toiled 20 days to install and commission the complete system. Kudos to SolarGy engineers - they have all passed the litmus test and literally emerged stronger after this project.

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In the midst of the circuit breaker period, SolarGy was activated by a Mindef affiliated organisation to install a PV diesel hybrid system for Phase 2 of the Community Care Facility (CCF) at the Changi Exhibition Centre.

With restrictions in many supply chains, SolarGy managed to gather all equipment and materials necessary to fullfill this green Covid initiative. What proved to be even more challenging was the limited access to our foreign workers who were stranded in the dormitories. Our local engineers took the challenge and rolled up their sleeves to undertake the physical installation works under the blistering hot sun. The system comprising 550 pcs of Sunpower and REC Alpha Series was installed and commissioned within 12 days - a track record that we have never thought possible. Despite the absence of foreign workers and the tight schedule, our team of engineers religiously adopted the usual attention to details and quality control that is very much our culture. 

Kudos to the CCF task force for continuing the fight against climate change while fighting Covid-19. Never stop fighting climate change!