TEPCO, ESR secure $9.5m loan to build rooftop solar projects in SG

Part of broader 100MW solar rollout across APAC.

Tokyo Electric Power Company Holdings (TEPCO) and logistics real estate firm ESR have secured $9.5m (¥1.1b) in financing from Taiwan’s Bank SinoPac to fund rooftop solar projects in Singapore.

The funding will support the development of 10MW of rooftop solar capacity, with plans to scale up to 40MW under a maximum loan amount of $35m (¥3.9b).

The loan is structured as portfolio asset project financing and will be channelled through a special purpose vehicle (SPV) set up by TEPCO and ESR. This is the TEPCO Group’s first project financing deal of its kind.

The move is part of TEPCO’s plan to develop 100MW of rooftop solar capacity across the Asia-Pacific.

The company has already signed power purchase agreements with multiple electricity users to support the rollout.

TEPCO also plans to enter the Australian market through its subsidiary TEPCO Global Energy, with plans to introduce storage batteries and energy management systems under its “TEPCO Area Energy Management” initiative.

The company said it will continue working with ESR to deliver net-zero carbon properties across the region.