A rooftop solar power station operates in Singapore, part of the 13-megawatt portfolio recently acquired by Shandong Hi-Speed Group to expand its green energy footprint in Southeast Asia. [Photo/en.sdhsg.com]
Shandong Hi-Speed (Singapore) Pte Ltd, a subsidiary of Shandong Hi-Speed Group, completed the acquisition of two renewable energy companies in Singapore — Yang Solar and Sunice Solar — on Dec 31.
The deal marks a significant step in the group's overseas green energy expansion. It includes the handover of 27 photovoltaic power stations with a total capacity of 13 megawatts. The projects are expected to produce approximately 16 million kilowatt-hours of electricity annually, reducing carbon dioxide emissions by about 16,000 tons per year.
These established solar projects serve a strong client base, including major multinational corporations. They are high-quality assets known for generating consistent electricity and offering stable, low-risk financial returns.
Operating under long-term Power Purchase Agreements (PPA), the acquisition not only helps maintain and grow state-owned assets but also boosts the brand’s reputation and competitiveness in the global green energy market. It provides a solid foundation for expanding the clean energy market in Southeast Asia.
Looking ahead, the group will continue to promote green energy upgrades and transition. By focusing on the clean energy market in Southeast Asia, it plans to speed up the global expansion of its new energy business to support China's dual carbon goals.
