ADOPTION OF RENEWABLE ENERGY

WGBC aims to promote the acceleration of net zero carbon buildings globally to 100% by 20503. In the local built environment sector, BCA’s Green Building Masterplan targets to green 80% of Singapore’s buildings by 20304.

CDL has been committed to using renewable sources to reduce emissions and accelerate the renewable energy transition agenda. In the design and construction of our projects, adoption of renewable energy has always played an integral part. Apart from installing solar panels to generate solar power on-site at selected investment buildings since early 2000s, we have also started to progressively participate in the Renewable Energy Certificates (RECs) marketplace since 2017.

At CDL’s mixed-use development South Beach, photovoltaic (PV) panels were installed at the tower roof and louver modules, covering a total area of approximately 1,800 m2 with an energy yield of 219,000 kWh annually. The Singapore Sustainability Academy (SSA) has a solar PV panel footprint of 3,200 square feet, extensively covering 4,300 square feet of the building. The solar PV panels generate an annual energy yield of over 60,000 kWh, exceeding the building’s annual energy consumption, thus enabling the academy to be selfsufficient. The zero-energy academy is also certified as a Green Mark Platinum building, recognising its various energy-efficient design and features.

In 2018, CDL attained 218,255 kWh of energy savings from the use of solar energy in Tampines Grande, City Square Mall, King’s Centre and Quayside Isle. The amount of savings achieved is almost $49,9205.

The emergence of RECs has shaped a more effective renewable energy market, driving global clean energy capacity. Contributing towards RECs also provides clean energy generators with a revenue stream that improves the economics of renewable energy projects and increases their competitiveness against fossil fuels. By procuring locally-sourced RECs, CDL can attribute 100% of the electricity consumed by our headquarters’ operations and part of our commercial buildings’ operations in 2018 to renewable sources. This offsets 386 tonnes of carbon emissions which is equivalent to powering over 200 typical 4-room HDB flats for one year.

In 2018, we also partnered with the SP Group for the launch of their REC marketplace. The REC marketplace uses innovative blockchain technology to enable REC trading to take place more conveniently, seamlessly and securely. Being one of the two pioneer buyers in Singapore to procure local RECs through this blockchain-powered platform has enabled CDL to expand our renewable energy usage in line with our renewable energy sourcing strategy.

3 The Net Zero Carbon Buildings Commitment, World Green Building Council
4 3rd Green Building Masterplan, BCA
5 Average electrical tariff in 2018 was $0.2287/kWh based on figures at www.spgroup.com.sg