Mr Ng is responsible for asset management of Sembcorp's Utilities business and also sits on the boards of various companies within the Group.
He has over 30 years of experience in the energy industry and has held both government and private sector appointments. Prior to joining Sembcorp, Mr Ng was a member of the executive management team of Senoko Power and also spent over a decade at Singapore's Public Utilities Board. In the course of his career, he was actively involved in the restructuring and liberalisation of Singapore's power and gas markets, as well as in negotiations for the importation of piped natural gas from Malaysia and Indonesia into Singapore.
Mr Ng holds a Bachelor of Mechanical Engineering from the National University of Singapore and a Masters of Science in Energy Resources from the University of Pittsburgh, USA. He also completed the Advanced Management Program at the Wharton School of Business.
As the global economic growth slows, energy demand is set to rise at a reduced pace. Countries around the world have also seen changes in their energy needs as they transit to a low-carbon future. The fuel mix continues to shift, with coal declining as renewables grow in importance.
Against this backdrop, the concept of ‘New Energy Realities’ succinctly captures the reality of the industry today. Energy companies are changing their business priorities and diversifying their portfolio to stay competitive in a changing market. Sembcorp too, has developed new business models and strategies that build on our capabilities and are tailored to different market conditions. For example, in addition to thermal energy projects we have expanded our renewable energy footprint in Asia, tapping on the abundance of wind and solar resources to generate electricity in India and China.
Energy demand in Asia is largely driven by China and India. Slower economic growth in both countries, together with the shift in their economic structures and environmental and climate policies will have a major bearing on Asia’s future energy mix. In China, the shift towards green development in its 13th Five-Year Plan would result in a fuel mix that is low in carbon. In India, while coal remains the primary fuel in its energy mix, its recent pledge at COP21 underlined its commitment to lower-carbon sources of energy.
In ASEAN, while there is growing political will to implement more secure and sustainable energy policies to keep up with its economic growth, it is worth noting that solutions will differ due to the varied energy profiles across different ASEAN countries.
With widened policy support towards lower-carbon energy sources in Asia, we foresee faster-than-expected cost reductions and deployment of energy innovations that are socially, economically, and environmentally sustainable.
Sembcorp has a strong track record in developing, owning and operating large-scale efficient energy assets in Asia. We have presence in Singapore, China, India, Vietnam, UK and the Middle East and have extended our footprint into Bangladesh and Myanmar. It is a priority for us to be able to produce energy from a diversity of fuels including natural gas, coal and renewable sources such as wind, solar, energy-from-waste and biomass to support Asia’s growing energy needs.
To support the sustainable development of Asia, we aim to build a balanced portfolio consisting of both thermal and renewable energy.
The utilities industry today faces new challenges. On top of the traditional goals of safety, efficiency and reliability, it must also address issues such as climate change and energy security. Stakeholders such as the governments and customers want to have greater control over their energy use to lower costs as well as decrease environmental footprint. The utilities industry will need to offer governments and customers innovative solutions ranging from efficient, green generation to grid energy storage while maintaining its ability to meet the growing energy needs and sustaining its growth. There are also opportunities for different industry players to come together to leverage each other’s strength to develop innovative solutions that are beneficial for the industry.
Against the backdrop of the global economic slowdown, India continues to present growth potential driven by its growing population, urbanisation and industrialisation. As one of Sembcorp’s key markets, India presents immense market opportunities and is an integral part of our emerging market strategy. We see a good match between the Indian government’s vision for the power sector and our capabilities.
Sembcorp entered the Indian energy market in 2010 and develops, owns and operates assets in both thermal and renewable energy sectors in the country. As one of the biggest foreign investors in India’s power sector, we now have over 3,400 megawatts of power capacity in operation and under development in India. In addition, we are also developing centres of excellence for thermal and renewable technologies in India to build up local expertise and global knowledge to drive operational excellence for our worldwide assets.