HG Metal to go 70% solar

The switch to solar is expected to result in cost-savings up to $3.1m for the project duration of 20 years.

HG Metal is set to use solar energy in one of their buildings, which could account for the 60% to 70% of the company’s annual energy consumption requirements.

In a press statement, steel distributor HG Metal Manufacturing announced they entered into a power purchase agreement with independent power company Lys Energy to build and operate a rooftop grid-tiered solar photovoltaic (PV) system on its 28 Jalan Buroh premises.

The switch to solar is expected to result in cost-savings up to $3.1m for the project duration of 20 years.

“This initiative will allow HG to not only enjoy cost savings but also reduce the carbon footprint of our existing business operations, creating a win-win situation for all the stakeholders involved,” said HG Metal CEO Shin Taeyang.

The 936.84kWp solar power plant is expected to be completed by the the third quarter of the financial year.

It is estimated to achieve an average annual output of 1,031.5MwH over the next 20 years.

The solar PV system will also be registered under Energy Market Authority (EMA) scheme’s Enhanced Central Intermediary Scheme (“ECIS”), to enable the export of the unconsumed excess of energy produced by the PV system into the national electricity grid.

Follow the link for more news on

HG Metal

solar energy

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia