Private investors still shy from Singapore renewable energy sector
Fitch says they're key to long-term growth but notes limited perks for such investors
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GOVERNMENT efforts will support growth opportunities in Singapore's renewable power sector. However, uptake by private investors - key to long-term growth - remains "very subdued" due to limited incentives, financial or otherwise, to enter the market, said Fitch Solutions Macro Research on Tuesday.
The research firm is forecasting renewables - primarily biomass and waste facilities, and solar power - to expand from 413 megawatts (MW) in end-2018 to over 1.4 gigawatts (GW) in 2028. Renewables are also expected to account for 4.6 per cent of Singapore's total power generation by 2028.
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