Singapore: Asia-Pacific’s renewable energy hub?
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FOLLOWING the conclusion of the COP28 climate summit in December, each country has now to begin a process of taking stock and re-evaluating its national net-zero commitments, goals and overarching strategies in line with new developments.
It is no different for Singapore. The city-state – regarded as a trusted broker in the COP28 negotiations – lies “at the vanguard of climate research”, and is a major player in climate finance. Yet, a key issue that has preoccupied Singapore is energy transition. As a “renewable-energy disadvantaged” nation, it ultimately has to rely on imports to meet its decarbonisation goals.
On this score, the past year has been productive. Singapore has unveiled plans to import wind-powered renewable energy from Vietnam and also rapidly secured deals with Cambodia and Indonesia. These moves allow Singapore to hit, and potentially even surpass, its target of having 30 per cent of its electricity demand supplied by “low-carbon” imported sources by 2035.
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