iSwitch Energy To Enter EV Charging Market

iSwitch Energy To Enter EV Charging Market


FOR IMMEDIATE RELEASE                                                     

  • iSwitch Energy set to acquire 12 electric vehicle charging stations in Singapore from leading Finnish technology company, PlugIT.
  • The acquisition will bring immediate community benefit, with chargers situated across multiple locations island-wide and many more to come.
  • All charging activities will be 100% carbon offset until 2025.
  • iSwitch will also offer loyalty discounts and special rates to its existing customer base of over 100,000 households and 6,000 businesses.

SINGAPORE, 19 April 2021 – In a landmark acquisition, Singapore’s largest green electricity retailer, I Switch Pte Ltd (“iSwitch Energy”) has signed an agreement with PlugIT, signalling iSwitch’s entry into the growing local electric vehicle (“EV”) charging market.

Under the terms of the deal, iSwitch will take ownership of up to 12 existing charging stations, as well as offer EV charger installation services to its existing portfolio of over 50 MCSTs, 10 shopping centres, 600 car parks, and 8,000 landed residential properties.

iSwitch intends to further cement its green identity by committing to offset 100% of all electricity used for charging, by purchasing United Nations Verified Carbon Units, which would result in a carbon neutral charge for “Scope 2” emissions. This refers to carbon emissions released into the atmosphere as a result of the electricity generated which is used to charge the electric vehicle.

Andrew Koscharsky, Chief Commercial Officer of iSwitch, said: “Inspired by the Singapore Government’s recently announced sustainability targets, we have decided that the timing is right for us to enter a new and exciting phase. To complement our existing green energy products, we will now offer new sustainability products to our 100,000 existing customers and across the entire Singapore energy market.”

With 60,000 charging points expected to be installed across the island by 2030 as part of a government initiative, iSwitch is well placed to contribute to this movement by deploying thousands of units across its existing electricity retail portfolio of high-quality condominiums and commercial sites. iSwitch was recently named “The fastest growing energy company in 2021” by The Straits Times and looks forward to maintaining that momentum in a prudent and measured manner.

“Convenience, Value and Customer Service have been major cornerstones of iSwitch’s success. iSwitch plans to offer the use of these charging stations to both iSwitch and non iSwitch customers. Existing iSwitch retail customers will receive bonus loyalty points, redeemable against their monthly electricity bill, resulting in a lower charging cost”, Mr Koscharsky added.

As Singapore moves towards a more sustainable and self-sufficient future, iSwitch is also evolving its business and partnering with key stakeholders to provide more green energy solutions for local consumers. This EV charging initiative is expected to broaden iSwitch’s existing suite of sustainable solutions such as carbon neutral green electricity, home batteries and solar panel installation.

iSwitch aims to become the Singapore consumer’s “One Stop Green Shop” across solar, battery storage, and EV charging points.

For more information, please contact:

Liz Pardey, Marketing Manager, iSwitch Energy,

About iSwitch

iSwitch is a licensed electricity retailer in Singapore with the vision to provide accessible one stop energy solutions to our community. We currently serve than 6,000 commercial accounts and have acquired over 105,000 residential customers. Our experienced team of over 60 employees are all based in Singapore, ensuring a high-quality and local touchpoint.

iSwitch was the first electricity retailer to offer 100% carbon neutral electricity to both commercial and residential customers. Since April 2016, we have helped offset over 165,000 tonnes of carbon dioxide, which is equivalent to 825,000 trees planted!

Our mission is to facilitate the transition to sustainable energy by empowering customers via data driven solutions and smarter, cost effective earth friendly technologies.

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