Following Singapore’s upgraded 2030 solar target, the multi-million acquisition boosts capacity for corporates seeking fixed-price locally-sourced renewable energy, strengthenening Peak Energy as one of the leading C&I rooftop solar platforms in the region.

SINGAPORE -12 March 2026 - Peak Energy has acquired a nearly 10MW portfolio in Singapore from Maiora Renewable Energy Pte Ltd.

 

This improves Singapore's energy security – increasing the locally-generated power capacity in an uncertain geopolitical environment. The acquisition also expands Peak Energy's ability to provide immediate renewable energy to leading regional corporates looking to cut costs and carbon as fossil fuel prices spike.

With utility-scale renewable energy not a realistic option in Singapore's land-constrained environment, corporate decarbonization demand increasingly relies on distributed generation. Delivering meaningful volumes to large buyers therefore depends on the ability to aggregate volumes and offer standardised contracting and performance reporting.

"Singapore's rooftop market still has headroom to meet the country's 2030 solar ambition. Turning that potential into capacity corporates can rely on requires a strong operating platform and financial strength, not development alone," said Gavin Adda, CEO of Peak Energy. "With Stonepeak's backing, we combine operating assets with newly developed ones to offer corporates off-site PPAs on consistent terms, from a bankable counterparty, thereby supporting the city-state's dynamic industry in the long term" he continued.

"Singapore has been an important market for Maiora for more than a decade and continues to serve as a strategic hub for our regional activities. As we expand our renewable energy platform across Asia, we are focusing our development efforts in Taiwan and the Philippines, where we see the strongest potential to significantly grow a high-quality portfolio at scale" said Marzio Keiling, Managing Partner, Maiora Renewable Energy. "When transitioning our Singapore assets, it was essential to identify a platform with the financial strength and long‑term commitment to steward and grow them.

In Peak Energy, we found the ideal partner."

What the acquisition enables for corporate buyers

Peak Energy is currently in advanced discussions with Singapore-based industrial and commercial players on long-term virtual power purchase agreements (VPPAs) for locally sourced renewable energy, providing a strong basis for price stability for Singaporean corporates.

Why corporates are prioritizing domestic renewables

Corporate renewable procurement in Singapore is being shaped by a range of factors. Among the most significant is geopolitical uncertainty, which plays a crucial role due to Singapore's continued reliance on imported fossil fuels, especially LNG. This dependence exposes large energy consumers to fluctuations in power prices, complicating efforts to secure stable, long-term energy supply.

Cross-border low-carbon electricity imports remain strategically important, but they stem from complex multi-jurisdiction infrastructure projects. Many are still progressing through Conditional Approvals, Conditional Licences and other regulatory processes in different countries. While supply is expected to ramp up over time, corporate buyers are increasingly factoring in the risk that the imported electricity may not be priced at the low levels many had hoped for.

In parallel, proposed changes to the GHG Protocol Scope 2 Guidance, while still in technical consultation, could potentially require renewable energy certificates (RECs) to be matched to the same grid location as electricity consumption, thereby reducing the validity of certificates sourced from external countries.

In this context, many corporates are prioritising local renewable energy procurement options.

"When Scope 2 Guidance starts asking 'when and where was the clean power actually delivered?', leading corporates in Singapore will naturally gravitate to solutions they can defend. Imports are part of the long-term picture, but domestic operating capacity is what you can contract against now" Gavin Adda added.

Peak Energy's domestic portfolios and long-term procurement offerings provide a simple, immediate and scalable solution for companies that want to purchase large quantities of affordable, low-carbon electricity with clear delivery timelines.

 

 Editor : Sanny