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Skyscraper Saves $712,000 Annually From Retrofit

Linda Hardesty

Singapore property developer City Developments Limited recently completed infrastructure upgrades to its Republic Plaza building, one of Singapore’s tallest skyscrapers, and anticipates an annual energy savings of $712,000 or 4 million kWh.

City Developments (CDL) expects the 66-story Republic Plaza, in the heart of Singapore’s Central Business District, to recover the retrofitting cost from energy cost savings in five years, or even earlier, should electricity tariff rates continue to increase in the near future.

CDL is working on energy efficiency throughout its property portfolio. Annual electricity savings from CDL sustainable buildings are estimated at approximately $16 million for its 37 buildings that received Green Mark certification between 2008 and 2011.

Green Mark is a benchmarking system used by Singapore’s Building and Construction Authority, which incorporates internationally-recognized best practices in environmental design and performance for buildings. As a result of Republic Plaza’s retrofit, the building received the Green Mark Platinum Award earlier this year.

In recognition of Republic Plaza’s energy efficiency and sustainability efforts, Trane, a brand of Ingersoll Rand, presented CDL with its “Energy Efficiency Leader Award” in November.



One comment on “Skyscraper Saves $712,000 Annually From Retrofit

  1. If this property were in the UK the return on investment in energy saving plant servicing the building would be even more impressive.

    Via the Enhanced Capital Allowances regime the building owner would receive all the tax relief available on the correctly specified equipment immediately instead of waiting for 25 years before gaining the total tax saving under normal writing down rules. This provides a massive cash flow boost at a critical time when there has already been significant capital investment.

    However, to achieve that position, the building owner needs to access the right professional advice at project planning stage and that needs to be suppported by a specific approach to the purchase contract, which is where we at Stuart Rivers Associates provide detailed support.

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