The Singapore Institute of Management (SIM) has entered into a long-term solar power purchase agreement (PPA) with clean energy platform Peak Energy to install an on-site solar power system at its Clementi Road campus in Singapore. The project marks another step in the institution’s sustainability efforts while helping reduce electricity costs and improve long-term energy security.
Under the agreement, Peak Energy will design, finance, build, own, operate, and maintain an on-site solar installation with a capacity of around 900 kWp. The system is expected to generate approximately 1,100 MWh of clean electricity each year. SIM will purchase the electricity produced by the system at a rate that is at least 45% lower than its current electricity prices.
The project will be implemented under a 14-year power purchase agreement, allowing SIM to benefit from renewable energy without making any upfront capital investment. Peak Energy will remain responsible for the installation, operations, and maintenance of the solar system throughout the contract period.
The partnership comes at a time when businesses and institutions in Singapore are facing high electricity prices. The country relies heavily on imported natural gas for power generation, making electricity costs vulnerable to fluctuations in global fuel markets. Rising electricity demand from expanding data centers and artificial intelligence applications has also added pressure to the energy system. In addition, disruptions in global liquefied natural gas (LNG) supplies have contributed to greater price volatility.
Against this backdrop, the long-term solar agreement is expected to provide SIM with greater cost certainty while supporting its transition toward cleaner energy sources. The project also reflects a growing trend among educational institutions and other organizations in Singapore to utilize rooftop solar systems to reduce dependence on grid electricity and lower carbon emissions.
Vincent Siow, Senior Lead for Mechanical and Electrical, Campus Infrastructure and Services at SIM, said sustainability has become an important part of the institution’s operations and its approach to preparing students for the future. He noted that the installation of onsite solar at the Clementi Road campus will help reduce the institution’s environmental footprint while contributing to Singapore’s broader sustainability goals.
Peak Energy CEO Gavin Adda said the partnership demonstrates the company’s growing presence in Singapore and its ability to deliver long-term renewable energy infrastructure. He added that the agreement provides SIM with a reliable and cost-effective source of electricity while protecting it from unpredictable energy market conditions and delivering substantial long-term savings.
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