Greif has agreed with Sunseap to support building a rooftop solar project in South-East Asia. The project involves installing a 4,722 kWp solar PV system at the Greif manufacturing facility in Singapore. Sunseap, a leading renewable energy company in Singapore, is set to play a pivotal role in the Asia-Pacific region’s energy transition.
Solar energy has existed for decades, but this long-emerging innovation has become a viable component in a diverse answer to the future of global energy. While a desire to supplant a bottomless appetite for fossil fuels is merit enough, an ever-increasing energy demand, especially in the age of AI, creates added urgency to generate new energy sources wherever possible. Lacking a single-source solution on the horizon, tapping into a diverse range of energy sources like rooftop solar is vital.
Solar power has significant value to the world due to its environmental and economic benefits. Environmentally, it reduces the reliance on fossil fuels and decreases CO2 emissions. Generating 1 kWh of electricity from solar power can avoid using 0.14 MMbtu of natural gas or 0.08 gallons of oil. Over time, even small amounts of renewable energy can substantially reduce carbon emissions, contributing to a cleaner environment and helping combat climate change.
The partnership between Greif and Sunseap
The new 4,722 kWp solar PV system includes a 17-year Power Purchase Agreement (PPA). The agreement specifies that the Generating Facility must have a capacity of at least 2,000.00 kWp. Greif will purchase energy for $0.066 per kWh AC. The Guaranteed Energy Output for Year 1 is at least 2,000,000 kWh, with a maximum 1% year-over-year reduction for subsequent years.
This partnership between Sunseap and Greif Eastern Packaging exemplifies the growing trend of businesses adopting innovative renewable energy solutions to meet their sustainability goals. By leveraging Sunseap’s expertise and comprehensive services, Greif is well-positioned to reduce its carbon footprint and contribute to a more sustainable future.
