Red Dot Power Makes its Mark in Solar Power
RDP makes its first investment in a solar project
Red Dot Power, Singapore’s fastest growing home grown independent electricity retailer has made its first investment for a 100% buy out of a 237.5 KWp operating Solar project in Singapore. Acquisition of this project adds to Red Dot Power’s business model to be an integrated energy services company comprising electricity retail, demand response, solar and storage.
Mr. Vijay Sirse, Founder and CEO of Red Dot Power says, “This acquisition is the first step in the direction of achieving Red Dot Power’s ambitious business plan to be a significant player in the renewable energy space – complimenting its electricity retail, demand response and storage solutions”.
Red Dot Power is currently the #1 independent electricity retailer in terms of market share and has proactive plans to obtain significant MW capacity in the solar space. The company aims to utilise both traditoinal c_Si solar modules and Organic PV (OPV) solar films in order to cater to specific applications as required at any given time.
Red Dot Power has a unique offering of being able to tailor its solar installation services not just for roofs, but also for the facades of various types of buildings. Known for its commitments to the renewable energy sector, vTrium Energy, the parent company of Red Dot Power, also pioneered the installation of OPV Solar films for the first time in Singapore at Cleantech 1, Cleantech 2 and Seletar Walkway facilities of JTC.
This acquisition also recognizes the importance of demand management to moderate peak prices at the national grid level by on-site electricity generation and in line with recently announced OptiWatt pilot project by EMA. Red Dot Power signed a MOU with EMA and other participating entities at the recently concluded SIEW 2016 event to integrate the electricity supply and demand management for the first time in Singapore.