A new financing agreement has been signed to support the development of rooftop solar power projects in Singapore.
Tokyo Electric Power Company Holdings (TEPCO HD) and ESR Group Limited, through a jointly established Special Purpose Vehicle (SPV), secured SGD 9.5m from Bank SinoPac to fund the first phase of a portfolio of rooftop solar installations.
The financing, signed May 15 2025, is structured to scale up to SGD 35m, supporting the future expansion of the project to 40 MW of capacity.
This marks TEPCO’s first portfolio asset project financing of its kind and reflects the company’s growing focus on renewable energy initiatives outside Japan.
The SPV has already signed power purchase agreements with multiple electricity users in Singapore. These deals form part of TEPCO’s wider plan to deploy 100MW of rooftop solar capacity across the Asia-Pacific region.
TEPCO aims to increase the availability of small-scale and distributed renewable energy sources to help advance carbon neutrality.
In addition to projects in Singapore, the company plans to enter the Australian energy market through its subsidiary TEPCO Global Energy Pte. Ltd., introducing storage batteries and energy management systems under its “TEPCO Area Energy Management” initiative.
In partnership with ESR, which specialises in logistics real estate and infrastructure across Asia-Pacific, TEPCO intends to provide low-carbon energy solutions to commercial customers across the region.
The collaboration supports shared goals of decarbonisation and sustainable development.
Bank SinoPac, the lender, has previously facilitated green energy projects across Asia, including solar and hydropower plants in Vietnam, Hong Kong, and Cambodia.
The rooftop solar initiative aligns with TEPCO’s broader push to transition to cleaner energy and contribute to regional sustainability goals.
