Solarvest Expects 2021 A Boom Year For Solar Energy

Solarvest expects the uptake and demand for solar energy to remain robust as businesses are intensifying its environmental, social and governance (“ESG”) efforts. Upon signing MOU with Huawei and Sungrow Power Supply, the green energy specialist believes the growing tide of sustainable investments will further drive the need for corporate leaders to accelerate adoption in renewable energy.

With the roll out of [email protected] and NEM 3.0 programme, injecting approximately 1,000 megawatts (“MW”) and 500 MW fresh new quotas in 2021, the solar industry is set to experience a busy year ahead.

Premised on that, Solarvest is ramping up its inventories and solutions to ride the solar boom. Under the MOUs, the Group will be committing to a cumulative order capacity of approximately 200MW of solar inverters from top tier global inverter suppliers to further boost its competitiveness and quality of its services.

Previously, Solarvest also subscribed to 200MW capacity of artificial intelligence (“AI”) powered energy management solutions for solar assets via its collaboration with Envision Digital International Pte Ltd (“Envision Digital”), a global green tech and Artificial Intelligence of Things (AIoT) technology leader. The integration of “edge-to-cloud” AIoT applications will improve Solarvest’s operational efficiencies and help to increase solar plant’s return on investment by suggesting methods to boost solar power generation by up to 15%.

Group Chief Executive Officer, Mr. Davis Chong Chun Shiong said, “We believe it is timely for us to expand our inventories in view of the surge in solar energy demand. The new capacity will fuel and accelerate our speed to market as we are aggressively increasing our market share. Engaging with top tier industry players will drive us forward in the race and further enhance our proposition.” 

In 2020, Solarvest managed to clinch approximately 100MWp of rooftop projects, which boosted its market shares significantly and strengthened the company’s position in the local solar EPCC industry. For this year, the sentiment is strong with the EPCC and solar assets bids in the [email protected] programme, bolstered by the strong track record in LSS1 and LSS2.

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