Sembcorp to Build 86 MW Solar Project on Pandan Reservoir

Sembcorp Industries (Sembcorp), through its wholly-owned subsidiary Sembcorp Solar Singapore, has been named the winning bidder by PUB, Singapore’s National Water Agency, to build an approximate 86MWp floating solar photovoltaic (PV) system on Pandan Reservoir.

This marks Sembcorp’s third floating solar project in Singapore, reinforcing its position as the nation’s leading floating solar energy player, the Singapore-headquartered company said on Monday.

In 2021, Sembcorp completed Singapore’s first large-scale inland floating solar farm at Tengeh Reservoir, a 60MWp project that stood among the world’s largest single floating solar PV systems at that time.

Earlier this year, Sembcorp signed a 25-year renewable energy purchase agreement with Malkoha Pte Ltd, a subsidiary of Meta Platforms, Inc., to build, own and operate a 150MWp floating solar farm on Kranji Reservoir. This project marks the largest floating solar project in Singapore.

Sembcorp Solar Singapore CEO Jen Tan said that floating solar projects, such as those at Pandan, Tengeh and Kranji Reservoirs were vital for Singapore’s land-scarce energy landscape.

Being entrusted with the delivery of this critical infrastructure not only highlights our ability to adhere to applicable environmental standards and timely project completions, but also provides an opportunity for us to uplift the solar workforce through skills development,” he said.

As a leading developer of inland floating solar farms in Singapore, Sembcorp continues to demonstrate its expertise and leadership in advancing differentiated renewable projects in Singapore and the region, he added.

Beyond Sembcorp’s role as a developer, it also supports public education of solar energy through active engagement. Sembcorp regularly hosts visits at its floating solar farm to raise awareness and inspire interest in Singapore’s clean energy transition.

Sembcorp now has over 1GWp of solar capacity and over 300MWh of energy storage in its Singapore portfolio, progressing the nation’s drive toward 2GWp of renewable energy by 2030. Globally, Sembcorp’s renewable energy capacity stands at 18.9 GW.

H1 Financial Results

It may be recalled that Sembcorp Industries has delivered a resilient performance for the first half of 2025 reporting a net profit was 382.59 million, comparable to 1H2024 net profit of 381.3 million, while the Group’s net profit after exceptional items (EI) was $417.66 million, 1% lower than $423.11 million during the same period last year.

Net profit before EI for the renewables segment increased 27% to $102.86 million in the first six months of 2025, due to higher contribution from India on better wind resource and higher operational renewables capacity.

Our gross installed renewables capacity increased to 13.8 GW in H1 2025 from 10 GW in H1 2024. However, performance was impacted by higher curtailment and lower tariffs in China.  

The Integrated Urban Solutions segment delivered a stable net profit before EI of 57.66 million, a slight increase from $56.88 million in H1 2024, supported by higher land sales in Indonesia as well as improved earnings from the water business in China.