On May 10, 2022, LYS Energy inaugurated two rooftop solar PV systems at Element Solutions Inc’s business centres in Tuas, Singapore.
As a global speciality chemicals company, maintaining environmental compliance is critical for Element Solutions Inc. To manage and reduce the impact of its business activities on the environment, Element Solutions strives to integrate environmental initiatives throughout its operations.
Reducing its energy use and emissions is a key part of its sustainability strategy. Today, Element Solutions continues to further its ESG agenda and recently announced its energy use and emissions goal aiming to reduce its Scope 1 and Scope 2 GHG emissions intensity by 25 per cent per metric ton of production by 2030 (from a 2020 base of 0.22 CO2 e/MT).
To address this sustainability goal of reducing its energy use and emissions, Element Solutions partnered with LYS Energy (LYS), a Singapore-based solar Independent Power Producer (IPP) that offers end-to-end solar energy solutions across several countries in the region.
Selected as the trusted partner in renewable energy (RE) for Commercial & Industrial (C&I), LYS Energy assessed Element Solutions’ requirements for energy consumption to deliver a tailored, full turnkey solution designed to guarantee the provision of solar energy as part of a long-term offtake agreement.
The agreement covers the financing, installation and operation, and maintenance of two solar photovoltaic (PV) systems of a total size of 503kWp atop Element Solutions’ business centres in the industrial zone of Tuas, Singapore.
The two solar PV systems are equipped with a total of 931 high-efficiency Tier-1 monocrystalline solar modules installed on metal roofs. The entire project – from design, and installation to operations and maintenance – is carried out by LYS Energy with emphasis on best-in-class engineering quality coupled with Health Environment and Safety (HSE) standards.
Commissioned in March 2022, both solar PV systems are expected to generate about 14.9GWh of total energy guaranteed by LYS Energy over the lifetime of the agreement. The energy generation output is estimated to account for nearly 20 per cent of Element Solutions’ annual energy consumption requirements in Singapore.
Moreover, as solar electricity price has become cheaper than other conventional sources of power, this switch to clean energy is expected to result in economic savings of more than SGD$2M (from April 2022 electricity tariff of (SGD $) 0.2794/kWh, and throughout the duration of the contract).
Besides economic benefits, this new initiative will support Element Solutions’ strategy of transitioning to cleaner energy use, by shifting away from using electricity generated from non-renewable resources such as fossil fuels and reducing the carbon footprint of its business activities. This clean energy initiative is expected to offset its emissions by approximately 6,000 tons of CO2 (Singapore’s average operating margin grid emission factor of 0.4080 kg CO2/kWh in 2020, and over the period of the agreement).
With this collaboration, Element Solutions also became a prosumer rather than simply consuming green energy by now generating its own solar energy while enabling its business centres to significantly decrease their reliance on fossil-fuel-based electricity. LYS Energy’s end-to-end carbon solutions help companies such as Element Solutions to lead by example and turn risk assessments related to low-carbon transition into innovation.
Element Solutions’ rooftop solar PV project is the outcome of persistent quality-focus work of a strong and successful collaboration between top-notch experts and partners at every stage of the process – who are environmentally responsible and committed to a carbon-free future. This new rooftop solar PV project strengthens LYS Energy as the leading solar integrator with over 20MWp presence in Singapore.
About LYS Energy
LYS ENERGY (LYS) is the first Singapore-based Solar Independent Power Producer that builds, owns, and operates solar photovoltaic systems in the Asia Pacific region. It offers a full range of solar services for the installation of solar energy photovoltaic systems for commercial, industrial, and public sites.
LYS provides Asia’s trusted Renewable Energy platform, offering hassle-free end-to-end clean energy solutions for businesses: from zero-CAPEX solar energy (PPA), Renewable Energy Certificates (RECs), turnkey Engineering Procurement Construction (EPC) and Operations & Maintenance (O&M) services, to carbon emissions and energy management consulting. Since its incorporation, LYS has deployed over 50MWp of high-performance solar PV systems, with a pipeline of over 500MWp in Singapore and across the region in Vietnam, Indonesia, Malaysia, and Thailand.
LYS ENERGY is wholly owned by LEADER ENERGY Group, one of the pioneers in Asia’s power sector. LEADER ENERGY is headquartered in Selangor, Malaysia that owns and operates a diverse portfolio of power generation and transmission assets in the Asia Pacific. For more information about the Group, please visit www.leaderenergy.com.
About Element Solutions
Element Solutions Inc. is a leading global speciality chemicals company whose businesses supply a broad range of solutions that enhance the performance of products people use every day. Developed in multi-step technological processes, these innovative solutions enable customers’ manufacturing processes in several key industries, including consumer electronics, power electronics, semiconductor fabrication, communications and data storage infrastructure, automotive systems, industrial surface finishing, consumer packaging, and offshore energy.
More information about the company is available at www.elementsolutionsinc.com