Name

Singapore Power Group

Legal name

Singapore Power Limited

Website

https://spgroup.com.sg

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

5,001–10,000 employees

Ownership category

akta.pro rank

Product category

Electricity and Gas Utility Services

NAICS

Electric Power Transmission, Control, and Distribution (22112), Electric Power Generation, Transmission and Distribution (2211), Natural Gas Distribution (2212), Steam and Air-Conditioning Supply (221330), Solar Electric Power Generation (221114), Electric Bulk Power Transmission and Control (221121)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900), Natural Gas Distribution (4924), Natural Gas Transmission (4922)

akta.pro primary industry

Multi-Utility Distribution Companies (Electric + Gas/Water Distribution) (EUADABAJ)

akta.pro secondary industries

SCADA, Controls & Communications Integration (RTU, Fiber, Networking) (EUAEADAD), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK)

Keywords

• Electricity transmission
• Gas distribution
• District cooling
• EV charging infrastructure
• Renewable energy solutions

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain

Revenue model

1. Regulated Electricity and Gas Tariffs: Revenue from regulated electricity and gas transmission and distribution services. Tariffs are regulated by Energy Market Authority (EMA) and revised quarterly to reflect actual cost of electricity. SP Services buys electricity on behalf of customers and pays generation companies, transmission licensee and other market players.
2. Market Support Services: Fees recovered for billing, meter reading, data management and retail market systems as the Market Support Services Licensee.
3. District Cooling and Heating: Design, build, own and operate district cooling systems for customers. Revenue from providing centralised cooling and heating services to commercial, industrial and residential developments.
4. Electric Vehicle Charging Infrastructure: Operating Singapore's largest public EV charging network with 3,400+ charging points. Revenue from EV charging services to drivers.
5. Climate Services: Renewable Energy Certificates (RECs), carbon credits, and sustainability consulting services for businesses and individuals.
6. Renewable Energy Solutions: Rooftop solar PV installations, aquavoltaic and agrivoltaic farms, and building-integrated photovoltaics for commercial and industrial customers.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

SP Group operates the national electricity and gas transmission and distribution network in Singapore as the sole licensed provider, serving 1.7 million residential, commercial, and industrial customers. Beyond the regulated grid, the company delivers integrated sustainable energy solutions across Asia Pacific, including district cooling and heating systems, public EV charging infrastructure (SP Mobility), rooftop and floating solar installations, and climate services such as Renewable Energy Certificates, Carbon Credits, and Sustainability Consulting.

Product overview

SP Group offers a comprehensive utilities and sustainable energy platform serving approximately 1.7 million customers in Singapore and internationally. The core offering consists of electricity and gas transmission and distribution networks, supplemented by digital products including the SP App and SP Utilities Portal for customer account management. The sustainable energy portfolio includes District Cooling & Heating systems, SP Mobility (EV charging network), Renewable Energy Solutions, and Climate Services (RECs, Carbon Credits, Sustainability Consulting). GET (Green Energy Tech) serves as the digital integration platform connecting building systems and data sources. The product architecture combines core infrastructure services with digital platforms and specialized sustainability offerings, enabling both traditional utilities delivery and low-carbon energy transition solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• SP Utilities Portal Online portal enabling customers to access and manage their utilities account, view and pay bills, submit meter readings, and access e-services for electricity, gas, and water in Singapore.
• SP App Mobile application enabling Singapore customers to learn and manage utilities consumption, compare retailer offerings in the Open Electricity Market, access bills, submit meter readings, make payments, and access SP Mobility EV charging services on the go.
• Open Electricity Market Program administered by the Energy Market Authority (EMA) that allows Singapore customers to choose between buying electricity from SP Group at regulated tariff or from competing electricity retailers at competitive prices, with SP Services providing one-stop utilities billing and call centre support.
• District Cooling & Heating Centralised energy systems that distribute chilled or hot water for air-conditioning to networks of buildings, improving energy efficiency and reducing carbon footprint for commercial, industrial, and residential developments. Singapore's largest industrial deployment at STMicroelectronics AMK TechnoPark has 36,000 RT cooling capacity.
• SP Mobility (EV Charging Network) Singapore's largest public electric vehicle charging network offering accessible, reliable, and seamless EV charging through 3,400+ charging points across 800+ island-wide locations, with smart charging (V1G) and vehicle-to-grid (V2G) capabilities.
• Green Energy Tech (GET™) Suite of solutions integrating different building systems and diverse data sources to create a seamless, sustainable utilities management experience, incorporating IoT, AI, sensors, and advanced metering infrastructure for commercial and institutional customers.
• Renewable Energy Solutions Rooftop solar photovoltaic solutions, aquavoltaic and agrivoltaic farms, building-integrated photovoltaics (BIPV), and energy storage systems providing commercial and industrial customers with reliable, high-yield solutions for green growth strategy across Asia Pacific.
• Renewable Energy Certificates (RECs) Energy Attribute Certificates representing the environmental attributes of one megawatt hour of renewable energy generation, sold to businesses and individuals across seven Asian markets to support renewable energy claims and carbon reduction targets.
• Carbon Credits Carbon offsets enabling organisations to address unavoidable emissions by investing in clean technologies, with each credit verified as equivalent to one metric ton of greenhouse gas avoided, reduced, or removed.
• Sustainability Consulting Advisory services helping organisations measure carbon footprint across Scope 1, 2, and 3 emissions, develop carbon-reduction roadmaps, and source high-quality carbon credits aligned with their organisational values and sustainability commitments.

Quantifiable outcome

• Carbon emissions reduction of 120,000 tonnes annually from STMicroelectronics district cooling
• +4 more outcomes

Named customers16 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Partnerships

24 partnerships are on record, tiered core, minor and flagship.

• BASFcoreStrategic or Co-development Partner · 1 March 2026Partnership to install first rooftop solar panels at BASF's Performance Chemicals site on Jurong Island and at Chemetall site in Loyang. Contributes to BASF's net-zero greenhouse gas emissions target by 2050.
• EVCcoreGTM or Marketing Partner · 1 January 2025Cross-border EV charging partnership enabling EV drivers to charge across borders using integrated network services.
• HuaweicoreTechnology or Integration · 1 January 2025SP Mobility and Huawei partnership to unveil ultra-fast EV charging integrating battery storage technology for enhanced charging infrastructure.
• State Grid ChinaminorGTM or Marketing Partner · 1 January 2025Partnership at International Forum on Power System Transformation 2025 for knowledge sharing on power system transformation and grid modernization.
• BCG Energy Joint Stock CompanycoreStrategic or Co-development Partner · 1 January 2024Joint venture to invest in rooftop solar and explore other renewable energy projects in Vietnam. First project partnership with Vinamilk to install 25 MW rooftop solar across nine factories and seven farms.
• NuriFlex VietnamcoreStrategic or Co-development Partner · 1 January 2024Partnership to develop and install up to 20 MWp of rooftop solar power at three mega factories for TKG Taekwang Vina in Vietnam. Generates over 28,000 MWh annually and reduces 22,000 tonnes carbon emissions per year.
• BetagrocoreStrategic or Co-development Partner · 1 January 20248.2 MWp solar PV installation at seven Betagro factories across Lopburi, Nakhon Ratchasima, Songkhla, Lampang and Chachoengsao in Thailand. Nearly 13,000 solar panels generating 11 GWh annually.
• Malee GroupminorStrategic or Co-development Partner · 1 January 2024Strategic partnership to install 1 MWp rooftop solar PV at Malee's Nakhon Pathom factory in Thailand. Approximately 1,600 solar panels generating 1,378 MWh annually.
• Rangsit UniversitycoreStrategic or Co-development Partner · 1 January 2024Collaboration to transform main campus into smart, low-carbon environment. 2 MWp rooftop solar across nine buildings plus floating solar PV. GET smart building intelligence system optimizes energy efficiency.
• SingHealthcoreStrategic or Co-development Partner · 1 January 2024Partnership to deploy up to 300 EV charging points across SingHealth facilities by 2028, supporting healthcare sector electrification.
• Singapore Land GroupcoreStrategic or Co-development Partner · 1 January 2024Strengthened sustainability partnership expanding electric vehicle charging facilities across Singapore Land Group properties.
• DSTAflagshipStrategic or Co-development Partner · 1 January 2024Appointed by Defence Science and Technology Agency to roll out smart utilities management system across Singapore's defence facilities.
• Qingdao Daneng Environmental Protection Equipment Co. LtdcoreStrategic or Co-development Partner · 1 January 2024Partnership to invest and build 90 MW aquavoltaic farm in Qingdao, China. Connected to hydrogen production facility powering Shandong's first green hydrogen production plant. Generates 162 million kWh annually.
• Banpu NEXTcoreStrategic or Co-development Partner · 1 January 2024Joint venture to design, build, own and operate district cooling system at Government Complex Center Zone C in Bangkok, Thailand. Total cooling capacity up to 14,000 refrigeration tonnes.
• Chongqing Gas GroupcoreStrategic or Co-development Partner · 1 January 2024Sino-Singapore Energy Services JV with Chongqing Gas Group to manage integrated energy systems. First energy services provider for Western China's largest high-speed railway hub at Chongqing East Railway Station.
• CapitaLandcoreStrategic or Co-development Partner · 1 January 2024Partnership to deploy distributed district cooling network at Geneo life sciences and innovation cluster at Singapore Science Park.
• JemenacoreOthers · 1 January 2024SGSP (Australia) Assets Pty Ltd trading as Jemena, owns and operates electricity distribution and gas transmission and distribution networks across Australia. SP Group holds 40% stake.
• CJ OliveNetworks Vina Co.minorStrategic or Co-development Partner · 1 January 2023Partnership to boost Vietnam's clean energy transformation through rooftop solar projects. First project secured: 2.5 MWp rooftop solar for CJ Vina Agri manufacturing plant.
• AIMS APAC REITcoreStrategic or Co-development Partner · 1 January 2023Installation of 10.8 MWp combined rooftop solar PV system across six industrial, logistics and warehouse properties in Singapore. One of largest rooftop solar installations by any Singapore-listed REIT. RECs go to AA REIT.
• Guangdong Lingxiao Pump Industry Co. LtdminorStrategic or Co-development Partner · 1 January 2023Completion of first Building Integrated Photovoltaic (BIPV) project in China. 4 MWp project completed October 2023 to improve energy efficiency for industrial operations.
• STMicroelectronicsflagshipStrategic or Co-development Partner · 1 January 2022Partnership to design, build, own, and operate Singapore's largest industrial District Cooling System (DCS) with 36,000 RT cooling capacity at AMK TechnoPark. Project value of $370 million USD over 20 years. First deployment of district cooling at a manufacturing facility globally for STMicroelectronics.
• Wuhou District Government, ChengduflagshipStrategic or Co-development Partner · 1 January 2021MOUs to establish Wuhou district as benchmark for smart eco-districts in Chengdu. SP serves as sustainable energy solutions partner with estimated rejuvenation pipeline of 630,000 sqm gross floor area over five years. Includes China's first district cooling microgrid at International Urban Design Centre.
• Seatrium Limited (formerly Sembcorp Marine)coreStrategic or Co-development Partner · 1 January 2017Phased deployment of 8.5 MWp rooftop solar capacity at Tuas Boulevard shipyard spanning 108 hectares. Includes GET smart energy management system integration. Phase 1 (4.5 MWp in 2017), Phase 2 (4.0 MWp completed mid-2022), Phase 3 (2.3 MWp commenced mid-2023).
• The Mobility House (TMH)coreTechnology or Integration · 1 January 2016Investment in TMH to leverage expertise and technology in Europe and United States for smart charging (V1G) and vehicle-to-grid (V2G) capabilities in Singapore.

Scale indicators13 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• National Grid plc: UK-headquartered regulated electricity and gas transmission and distribution operator with national monopoly franchises, comparable to SP Group's sole T&D license in Singapore and parallel move into renewables, interconnectors, and EV charging infrastructure.
• CLP Holdings: Asia-Pacific electric utility operating regulated transmission, distribution, and retail businesses across Hong Kong, mainland China, India, and Australia. Closely comparable to SP Group in geographic mix, regulated asset base, and pivot toward decarbonization solutions.
• TenneT Holding B.V. European regulated TSO operating high-voltage transmission grids across the Netherlands and Germany with strong renewable integration mandate. Comparable to SP Group in grid reliability focus and DERMS/smart grid investments supporting distributed energy resources.
• Jemena (SGSP Australia Assets): SP Group's own 40%-owned Australian platform operating electricity distribution and gas transmission and distribution networks. Directly comparable T&D asset profile in a neighboring geography, providing a template for SP Group's international expansion model.

Broad incumbents

• Enel S.p.A. Global multi-utility with regulated distribution networks across Europe and the Americas plus renewables, EV charging, and energy services. Comparable as an incumbent that pairs regulated T&D with a broad sustainable energy solutions portfolio and digital platforms.
• Sembcorp Industries: Singapore-headquartered energy and urban solutions company with renewables, district cooling, and integrated utilities businesses across Asia. Comparable sustainable energy solutions portfolio competing for the same decarbonization mandates in ASEAN.
• PowerGrid (India) - Power Grid Corporation of India: India's central transmission utility operating one of the world's largest synchronized grid networks. Comparable as a national T&D operator investing in smart grid, HVDC, and renewable integration infrastructure.
• State Grid Corporation of China: World's largest utility operating China's electricity transmission and distribution backbone. SP Group signed a 2025 knowledge-sharing MoU with State Grid at the International Forum on Power System Transformation, signaling comparable strategic priorities around grid modernization and renewables integration.

Regional players

• AusNet Services: Australian regulated electricity and gas T&D operator. Highly comparable to SP Group's Jemena business in terms of asset class, regulatory model, and decarbonization opportunities in Australia.

Emerging players

• Keppel Infrastructure: Singapore-based infrastructure arm of Keppel Ltd operating district cooling, waste-to-energy, and renewables assets. Closest direct competitor in Singapore's district cooling market and emerging regional energy transition plays.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/c/SPGroupSG
• Facebookfacebook.com/SPGroupSG
• LinkedInlinkedin.com/company/singapore-power-ltd
• Instagraminstagram.com/spgroup.sg
• Xx.com/SPGroupSG

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries22 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Singapore Power Group