Business Daily Media

The Times Real Estate

.

Daikin and SP Group form new joint venture to build Singapore’s largest industrial district cooling system

SINGAPORE - Media OutReach - 18 May 2022 - Daikin Singapore ("Daikin") and SP Group ("SP") announced the formation of a new joint venture (JV), in conjunction with an earlier announcement by STMicroelectronics (ST) and SP to establish Singapore's largest industrial district cooling system for ST's Ang Mo Kio TechnoPark.

The JV will build the district cooling system (DCS) which will have a cooling capacity of up to 36,000 refrigerant tonnes (RT). When completed in 2025, it will help ST achieve 20 per cent savings in cooling-related electricity consumption annually and support ST's target of achieving carbon neutrality by 2027.

Daikin and SP also signed a separate Memorandum of Understanding (MOU) to explore the potential of district cooling in other Southeast Asian countries, starting with Indonesia. Under the MOU, Daikin and SP will combine their expertise, experience and resources to bring this sustainable cooling solution to the various markets to help lower their energy consumption and reduce their carbon footprint.

The expanded collaboration between both companies signifies their commitment to empower smart, low-carbon cities across the region, and to support Singapore's sustainability ambitions under the Singapore Green Plan 20301.

"We are excited to collaborate with SP Group, and we look forward to working together closely towards greater environmental sustainability", said Mr Yoshihiro Mineno, Member of the Board and Senior Executive Officer of Daikin Industries, Ltd.

Moving towards a greener, cleaner future

This project aligns with Daikin's mission to build upon Singapore's ongoing roadmap for greener buildings as well as the longer-term vision for a Singapore Smart-city that includes sustainability in its advocacy. The JV will be 70 percent owned by SP and 30 percent by Daikin. It will build the new district cooling plant for ST Ang Mo Kio (AMK) Technology Park at Daikin's AMK premise. By centralising chilled water production, the new facility is designed to optimise chiller efficiency and deliver a 24/7 chilled water supply to meet ST's wafer fabrication needs.

In addition, Daikin will be deploying one of its most efficient 2,000-tonne HFO Chiller for this project. HFO or Hydrofluro-Olefins is the new generation of synthetic refrigerants with zero ozone depletion effect and is designed to significantly reduce the Global Warming Potential2.

Group Chief Executive Officer of SP Group, Stanley Huang, said, "We are honoured to partner Daikin in this joint venture to provide district cooling to STMicroelectronics at AMK TechnoPark. We look forward to a broader collaboration in Southeast Asia with Daikin."

Reducing carbon footprint and moving towards sustainability

In line with the nation's green vision, Daikin hopes to achieve net-zero by the year 2050 by reducing greenhouse gas emissions and is constantly working towards this goal. The company plans on achieving this by making conscious changes in its entire value chain: life cycle of products, manufacturing, work processes through solution propositions, innovative technologies, and the use of IoT and AI. The ultimate goal here is to contribute toward a cleaner, safer environment to combat climate change issues and move towards a sustainable future.

Daikin Singapore has been working with a keen focus on lowering its carbon footprint. As such, the company plans on leveraging its latest chiller software and optimisation expertise3 for this project. Daikin is also planning to launch other green initiatives, including a solution that uses chemical-free water treatment4 that leverages applied electrochemistry and an intelligent controller to enhance system performance, providing a sustainable and scalable solution to large building HVAC systems and industrial chiller circuits, but also saves energy, water, maintenance and chemical costs in cooling water management.

"Daikin fully supports our national directions and is keen to play an active role in this journey, especially in going Green, Smart and Sustainable in the Living Environment. With this project, we are excited to take another step towards our goals for a sustainable smart nation," said Mr Liu Shaw Jiun, CEO of Daikin Airconditioning Singapore Pte Ltd.

Daikin and SP first collaborated back in 2020 to bring Singapore's first large-scale residential centralised cooling system to the upcoming Tengah HDB Town. Both companies will continue to explore future opportunities to help create energy-saving models and help Singapore and the rest of Southeast Asia move towards a resilient, sustainable future.


1https://www.greenplan.gov.sg/splash
2https://iopscience.iop.org/article/10.1088/1757-899X/905/1/012070/pdf


About Daikin Singapore

In the beginning, Daikin Singapore has placed its strategic focus on HDB, building a stronger sales channel by developing Daikin Proshop and thereby differentiating itself from its competitors. With more than 50 years of history in Singapore, Daikin also drove expansion by launching differentiated products such as Remote Monitoring System (RMS), which provides energy optimization and predictive analytics. In Applied Product equipment (AP), which is mainly used in the commercial or industrial sector, it expanded sales by focusing on highly efficient products like magnetic-chiller products and airside using EC motors. Its services business was solely related to the repair and supply of spare parts and since with the acquisition of BMS Engineering, the company has started to focus on Indoor Air Quality (IAQ) and Eco-Friendly Maintenance, where it aims to support green building projects. Daikin will then optimize AC equipment and other building equipment implementation before moving towards providing a full suite of services by adding Energy Management to its portfolio to manage equipment for the whole building. The expansion of Daikin technology and know-how in the cooling industry has enabled Daikin to scale up their green projects to build District Cooling Networks for Tengah and now STMicroelectronics

Website:

About SP Group
SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China and Vietnam.

As Singapore's national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide.

Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast charging and digital energy solutions for customers in Singapore and the region.

For more information, please visit or for follow us on Facebook at , on LinkedIn at and on Twitter


#DaikinSingapore #SPGroup

News from Asia

PAObank Shared in World Internet Conference Asia-Pacific Summit in Hong Kong

Insights on the Potential of Commercial Data: A Path to Enhanced Financing Efficiency and Financial Inclusion HONG KONG SAR - Media OutReach Newswire - 15 April 2025 - ​The World Internet Conferen...

Consumer goods expo highlights China's growing allure for global brands

HAIKOU, CHINA - Media OutReach Newswire - 15 April 2025 - ​The fifth China International Consumer Products Expo (CICPE), held on the tropical island province of Hainan, has reaffirmed the country...

Recognising Purpose-Driven Excellence: ACES Awards 2025 Opens Nominations for the Philippines’ Most Visionary Leaders and Companies

MANILA, PHILIPPINES - Media OutReach Newswire - 16 April 2025 - In a region rich with ambition, the Philippines continues to lead with sustainability and purposeful leadership. The Asia Corporate ...

Hey! Chips Launches Singapore’s First Clean-Label Fruit Bites Snack

SINGAPORE - Media OutReach Newswire - 16 April 2025 - Singapore’s leading clean snack brand, Hey! Chips, is proud to introduce its latest innovation: Hey! Fruit Bites. A first-of-its-kind freeze-...

Sustainability progress to 2030 delivering value for Hongkong Land

Key achievements include: 33.3% reduction in Scope 1 and 2 carbon emissions against 2019 baseline, making good progress toward 2030 target...

Crayon’s Biennial Future of Operations Study Uncovers What is Driving SMB IT Spend in APAC

SYDNEY, AUSTRALIA - Media OutReach Newswire - 16 April 2025 - ​Crayon, a global leader in IT services and innovation, today announced the latest release of its biennial Future of Operations study ...

Shama Hub Metro South Hong Kong Unveils Characteristic Panda-Themed Rooms This Spring

HONG KONG SAR - Media OutReach Newswire - 16 April 2025 - Shama Hub Metro South Hong Kong ("Shama Hub Metro South"), a contemporary urban retreat and distinguished member of the ONYX Hospitality...

Zero Fintech Group Limited (Stock Code: 0093.HK) Announces Record-Breaking 2024 Annual Results

HONG KONG SAR - Media OutReach Newswire - 16 April 2025 - Zero Fintech Group Limited ("Zero Fintech" or the "Company", stock code: 0093.HK), a leading fintech innovator, is proud to announce its s...

All roles, all levels, all markets: General Assembly launches first-of-its-kind one-stop AI Academy to help companies close their AI skills gap

This is the first in Singapore to offer flexible AI courses geared towards all organisational roles – from business and operational teams to decision-makers – all in one place Unl...

Leong Yik Launches New Website & Enhanced Client Experience to Mark 7 Years in SG

SINGAPORE - Media OutReach Newswire - 16 April 2025 - Leong Yik Engineering & Contractor has launched a newly redesigned website to mark its 7th year of operations in Singapore. The new platfo...

Cutting edge AI technology designed for doctors to reduce patient wait times launched in NZ

New Zealand specialist doctors now have access to Artificial Intelligence technology to help reduce patient wait times and experts say it could be...

Launchd Takes Off: Former AFL Stars Lead Tech-Powered Platform Set to Disrupt Talent and Influencer Marketing

Backed by Institutional Capital, Launchd Combines Five Leading Agencies and Smart Technology to Deliver Measurable Results Influencer marketing i...

Meet the Australian fintech unlocking rewards for small businesses

Small businesses make up 98 per cent of all businesses in Australia, yet they continue to bear the brunt of economic uncertainty. According to Credi...

Teleperformance (TP) Business Insights Report Reveals Key Shifts in Consumer Behaviour

TP’s Business Insights report  into consumer behaviors and preferences, taking in more than 57,000 respondents across 19 sectors, is shedding new li...

HubSpot launches platform-wide AI tools to help businesses close the adoption gap

HubSpot today unveiled more than 200 updates across its customer platform to help businesses grow better. The release introduces smarter tools, new AI...

Why Every Leader Needs a Personal Branding Strategy in 2025

One of the best investments you can make in 2025? Your Personal Brand.In today’s competitive and digitally driven business world, authenticity and...

Sell by LayBy