Singapore plans to import more electricity to hit its import targets of 4 gigawatts (GW) of electricity by 2035.
Proposals have been launched for new import projects into the region by Singapore’s Energy Market Authority (EMA), its manpower minister Tan See Leng said at the Singapore International Energy Week conference.
The EMA has since received more than 20 proposals from Australia, Indonesia, Laos, Malaysia and Thailand, Tan said.
About 95% of Singapore’s electricity is generated from natural gas, though the country plans to ramp up sources of renewable energy.
As Singapore transitions towards greater sustainability, there will be new growth opportunities in the areas of solar, energy storage systems (ESS) and smart grids, Tan said.
“These opportunities include conventional and non-conventional solar deployment such as floating and building-integrated photovoltaics, battery ESS engineering, procurement and construction and project management services.”
During the energy summit, Singapore and Cambodia signed a memorandum of understanding (MOU) to deepen energy cooperation.
“Such partnerships will help to facilitate key areas of cooperation such as the development and financing of renewable energy projects, development of regional power grids and cross-border grid interconnections for electricity between both countries,” Tan said.
Singapore this year has signed similar agreements with Australia, Vietnam, Laos and Brunei.
- Reuters, with additional editing from Alfie Habershon