electric vehicles (EV)

Renewable energy to put downward pressure on power prices: Schroders

SINGAPORE (July 31): The support for green energy is often dampened by its prohibitive price tag but that may change soon, according to European fund management group Schroders.

Over the next 10 years, the cost to produce renewable energy is expected to decrease, putting downward pressure on energy prices, says Simon Webber, lead portfolio manager at Schroders, in a July 19 note.

That may seem impossible at present, says Webber, given 30% of power production in Europe that comes from renewables is still funded substantially with taxpayer money.

Ascendas-Singbridge properties to house public EV charging network with help from SP Group

SINGAPORE (Jan 21): Ascendas-Singbridge Group is appointed as Singapore Power (SP) Group’s first major location partner in its plans to build “Singapore’s largest and fasted public EV charging network” with 1,000 charging points island-wide by 2020.

Under the partnership, 24 charging points were installed in six buildings owned by Ascendas-Singbridge – Hyflux Innovation Centre at  80 Bendemeer Road, Corporation Place, Techlink, Techplace I, The Capricorn and The Kendall – with operations commencing in phases since Dec 2018.  

Elektromotive’s FY16 net losses more than double to $6.3 mil

Elektromotive Group logo

SINGAPORE (May 30): Elektromotive Group’s full-year net losses have more than doubled to $6.3 million from a year ago due to an impairment loss and higher costs and expenses.

Revenue rose 26.3% to $9.6 million, driven by the 40.9% increase in sales from its electric vehicles (EV) business division, following the completion of fast charger installation projects.

The EV division contributed 77% to total revenue during the current financial year. The remaining 23% came from the group’s publishing business.

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