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.