Customers will not have to make any upfront investments. Credit: Cleantech Solar
Singapore-headquartered clean energy provider Cleantech Solar has signed power purchase agreements (PPAs) for 27MW of industrial rooftop solar projects across three customers in three Asian countries.
The contracts cover full turnkey financing, design, installation, and full-life O&M of the solar PV systems.
Customers will not have to make any upfront investments and will benefit from lower electricity prices.
Raju Shukla, chairman of Cleantech Solar said: "We are delighted that industry leaders in their respective areas have once again chosen Cleantech Solar for their long-term solar requirements. Those three systems will be amongst the world’s largest rooftop solar projects.
“This not only shows that corporations are increasingly seizing the opportunity of competitive on-site renewable energy but are also embracing the solar-as-a-service model where our strong balance sheet enables us to carry the full capital investment.”
One third of renewable energy PPAs in Southeast Asia are expected to be corporate in next 3-5 years, according to one prominent C&I solar developer in the region.