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ComfortDelGro in second JV with Engie to provide renewable, solar energy

This article was first published by The Business Times.

 

COMFORTDELGRO Engineering, a wholly-owned subsidiary of mainboard-listed ComfortDelGro ComfortDelGro: C52 0%, has entered into a second joint venture (JV) with Engie South East Asia to develop and manage solar energy solutions.

Through JV company ComfortDelGro Engie Solar, both sides intend to electrify ComfortDelGro's fleet of vehicles with renewable power and offer fast charging solutions to drivers and public electric vehicle (EV) users through renewable energy assets, the transport operator said on Tuesday (Nov 30).

The solar JV comes 2 months after the 2 companies' first venture, ComfortDelGro Engie, won a tender to deploy 479 EV chargers across Singapore by the third quarter of 2022.

With a target to operate by the second half of 2022, ComfortDelGro Engie Solar intends to first install and operate rooftop solar panels atop 3 buildings at Loyang, Pandan and Ubi, operated by ComfortDelGro Engineering.

These solar panels will power the buildings, as well as the company's automotive workshops.

The solar JV also plans to offer renewable energy solutions to ComfortDelGro's customers and business partners that are looking to deploy renewable energy to their own buildings.

Ang Soo Hock, chief executive of ComfortDelGro Engineering, said: "Beyond the electrification of our vehicle fleets is the need to build charging farms powered by renewable energy on our premises that offer fast charging solutions to our cabbies as well as the public EV users."

ComfortDelGro Engie will also leverage on the solar JV to offer EV charging solutions using renewable energy, as part of its pledge to play a major role in deploying 60,000 EV charging points across the Republic under the Singapore Green Plan 2030.

Engie South East Asia operates as a cluster under Singapore-headquartered Engie Asia-Pacific, the regional arm of French energy group Engie.

Shares of ComfortDelGro were trading at S$1.41 as at 11.07 am on Nov 30, down S$0.02 or 1.4 per cent.

 

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