China and Singapore, 23 May 2024 – SP Group (SP) is partnering Qingdao Daneng Environmental Protection Equipment Co. Ltd. (‘Qingda Environment’), a leading local provider of environmental technology solutions, to invest and build a 90-Megawatt (MW) aquavoltaic farm. The project will be connected with a hydrogen production facility to sustainably power Shandong’s first green hydrogen production plant in Qingdao City.

At an investment value of over S$76 million (RMB 400 million), the project will deploy solar photovoltaic (PV) panels across 300 acres (around the size of 161 soccer fields) of an aquafarm and is on track to be connected to the grid by the end of the year. It is projected to produce 162 million kilowatt-hour of green electricity annually, while reducing carbon emissions by 160,000 tons. Combining solar power generation with aquaculture enables land use optimisation and unlocks symbiotic benefits such as reducing evaporation rates at the water surface and ecosystem restoration.

The operational model will incorporate renewable energy generation, grid integration, demand-side management, and energy storage. This energy management system will maximise efficiency and energy utilisation rate through balancing demand and supply across the entire green energy generation value chain.

“There is a growing need for green energy solutions as China's industrial sector embarks on a green energy transformation. This presents unique challenges and resourcing needs in each region. Leveraging our technical expertise and investment resources, SP Group welcomes the opportunity to work alongside leading industry peers such as Qingda Environment to further explore innovative applications of renewable energy, to accelerate China’s overall energy transition,” said Michael Zhong, Managing Director, China, SP Group.

Upon completion, the project will supply solar power to Shandong’s first green hydrogen production plant. This will support the development of green hydrogen as a clean energy source in Shandong, advancing the province’s decarbonisation and clean energy transition.

SP has a total of 1.3 Gigawatt of solar projects secured in China, with a solar investment footprint across 18 provinces and municipalities, targeting commercial estates and industrial parks. We have adopted a versatile investment approach on projects in China, ranging from greenfield developments to acquisitions. Our capabilities encompass PV installations, including  utility scale solar farms, ground-distributed and rooftop systems, as well as solutions designed for on-site consumption and demand-side energy storage. These projects specifically target regions with substantial commercial and industrial electricity needs, including Shandong, Guangdong, Jiangsu, and Zhejiang.

About SP Group

SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, as well as sustainable energy solutions in Singapore, China, Thailand and Vietnam. 

As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective worldwide. 

Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast-charging stations and digital energy solutions for customers in Singapore and the region. 

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