The energy from the five MWp offshore floating photovoltaic system will be exported to the national grid. All renewable energy credits (RECs) from project will be transferred to Facebook under the VPPA and will support the tech company’s operations in Singapore, including Facebook’s first custom-built data center in Asia.
A VPPA is a contract structure in which a buyer agrees to purchase a project’s renewable energy for a pre-agreed price. The energy can be produced from a renewable energy project that is located away from the premises of the buyer, but co-located on the same grid.
The agreement signed with Facebook is Sunseap’s second VPPA with the tech company since October 2020—Sunseap and Facebook also have an agreement for renewable energy exported from solar systems installed