CapitaLand Investment (CLI) will adopt cooling-as-a-service (Caas) systems in Raffles City Singapore, Plaza Singapura and The Atrium@Orchard, the global real asset manager announced on Tuesday (Jun 18).
This comes amid the company’s efforts to drive for sustainability and cost efficiency.
The cooling systems across the three flagship properties will cover 4.8 million square feet (sq ft) of gross floor area (GFA) with a combined installed capacity of 15,000 refrigerant tonnes. The properties are currently owned by CapitaLand Integrated Commercial Trust and managed by CapitaLand Investment.
The Caas contracts, which were awarded to Keppel DHCS and Engie South East Asia, are expected to reduce energy consumption by over 30 per cent across the properties, compared to total energy consumption in 2023.
The systems will also save at least 118,680 tonnes of carbon emissions over the 15-year operating period.
The company said that the contracts will be paid for on a utilisation basis and is expected to save enough energy to power more than 4,800 four-room HDB flats in a year, based on average household electricity consumption.
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Under the 15-year performance guaranteed contracts, Keppel DHCS and Engie will implement Caas to provide chilled water and air-conditioning to these flagship developments.
They are fully responsible for the design, build, operations, maintenance, repairs and upgrades to the cooling system, which will use a supply-and-service subscription throughout the contract period.
It also noted that Raffles City Singapore, with a GFA of over 3.45 million sq ft, will be Singapore’s largest integrated development to adopt Caas to date.
“The Caas solution is predicted to reduce a total of more than 76,000 tonnes of CO2, the equivalent of taking over 16,000 cars off the roads for a year,” said Lim Yong Wei, executive director of Keppel DHCS’s executive director for its energy-as-a-service infrastructure division.
CLI said that it expects improved energy efficiency to help upgrade the green certification, which is conferred by the Building and Construction Authority, across its three properties.
It aims to improve the rating of The Atrium@Orchard to Green Mark Platinum (Super Low Energy) from Green Mark Gold.
Similarly, Raffles City Singapore and Plaza Singapura are expected to boost their respective ratings to Green Mark Platinum.
“The Caas contracts at Raffles City Singapore, Plaza Singapura and The Atrium@Orchard optimise the energy performance of our properties and reduce our carbon footprint,” said Chris Chong, CLI’s chief executive officer of retail and workspace in Singapore and Malaysia.
Shares of CLI were trading 1.1 per cent or S$0.03 higher at S$2.66, as at 1.46 pm on Tuesday.
