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Day 1 Wrap-Up: SIEW 2024 Kicks Off with Calls for Stronger Collaboration

Singapore International Energy Week (SIEW) 2024 opens by setting a strong tone for a connected and sustainable energy future. Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong delivered the Singapore Energy Lecture, outlining how Singapore is accelerating the current pace of decarbonisation.

Here's a recap of Day 1's key announcements and highlights:

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

Collaborative Decarbonisation and Innovative Financing for Energy Transition Projects

Contributed by Alika Koh, EMA

During the SIEW Summit panel discussion on "Financial Innovation for a Resilient Energy Future", industry leaders discussed collaborative decarbonisation strategies and innovative financing solutions, emphasising tailored approaches and carbon pricing.

Sharing their insights were Mr Maeda Tadashi, Managing Director, Chairman of the Board of Directors, Japan Bank for International Cooperation (JBIC); Mr Lavan Thiru, Executive Director, Infrastructure Asia; Dr Sama Bilbao y León, Director General, World Nuclear Association; Mr Ramesh Subramaniam, Director General and Group Chief Sectors Group, Asian Development Bank; and Mr Luca Tonello, MD and Chair of Energy and Infrastructure Asia Pacific, SMBC.

  • Regional cooperation and knowledge exchange are vital for overcoming decarbonisation challenges. No single country can achieve this alone.
  • Blended finance and new financial instruments can help de-risk projects, making them more attractive to private investors. This is critical to drive the net zero transition.
  • Effective carbon pricing and emissions trading schemes are key to mobilising investment in low carbon energy infrastructure. This will provide the financial certainty needed for successful transitions.
  • Developing local manufacturing capabilities and improving cross-border connectivity will enhance resource utilisation, making renewable energy projects more viable and affordable.

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

Going “All-In”: Inclusivity plays a crucial role in sustainable energy transition

Contributed by Jason Leong Ka-Sing, National University of Singapore

Speakers at the SIEW Summit Closing Session, on "Powering All: Harnessing Inclusiveness for Sustainable Progress", explored how inclusivity is key to ensuring a successful and sustainable energy transition. They were Mr Fahad K. Al Dhubaib, Senior Vice President for Strategy & Market Analysis, Aramco; Mr Tatsuya Terazawa, Chairman and Chief Executive Officer, Institute of Energy Economics, Japan; Dr Angela Wilkinson, Secretary General and Chief Executive Officer, World Energy Council; and Mr Joseph McMonigle, Secretary General, International Energy Forum. 

  • Inclusivity plays a vital role in making sustainable energy accessible to all. Broadening energy access, especially for underserved regions, and addressing energy poverty are essential steps for progress.
  • To enhance inclusivity, there must be support for emerging energy technologies, adaptive market frameworks focused on emissions, and realistic views and discussions about energy transition challenges. 
  • True inclusivity involves directly engaging stakeholders, particularly women, younger generations, and voices from the Global South. This will ensure a diverse and comprehensive dialogue on energy solutions.
  • The role of traditional energy sectors, including OPEC and oil & gas companies, is increasingly recognised globally, where once they were stigmatised. They are necessary for a holistic perspective involving not just sustainability, but also affordability and accessibility of energy.

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

Balancing Renewables and Conventional Fuels for a Sustainable Energy Transition

At the SIEW Summit Spotlight Session on "Transition to a Greener Future: The Interplay of Renewables and Natural Gas", panelists explored the need to integrate both renewable and conventional fuels to ensure a stable and just energy transition.

Offering diverse perspectives were Mr Mark Christie, Commissioner, United States Federal Energy Regulatory Commission (FERC); Mr Masanori Tsuruda, Deputy Commissioner For International Affairs, Agency For Natural Resources And Energy, Ministry Of Economy, Trade And Industry, Japan; Mr Joseph McMonigle, Secretary General, International Energy Forum; Mr Takao Tsukui, Executive Vice President, Mitsubishi Power; and Mr Leong Wei Hung, Chief Executive Officer, Singapore LNG Corporation.

  • A balanced approach is essential for the energy transition, requiring continued investment in both renewables and conventional energy sources like natural gas. This balance is crucial for maintaining energy stability, avoiding market volatility, and keeping energy prices affordable—especially in light of current economic challenges.
  • ASEAN countries are adopting a "triple breakthrough" strategy, aiming to simultaneously achieve emissions reduction, economic growth, and energy security. This tailored approach underscores the importance of considering regional contexts and socio-economic factors in energy policy, particularly to sustain public support for the transition.
  • The increasing electrification of the world, driven by growing demand from electric vehicles and data centres, presents new challenges. Grid stability must be maintained by leveraging "dispatchable resources" such as natural gas, nuclear energy, and coal. This is especially when weather-dependent renewables aren't able to meet demand.

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

400 Million Tonnes: Is the World Ready for Hydrogen and Ammonia?

Contributed by Danish Mirza, Singapore University of Social Sciences

With 400 million tonnes of clean hydrogen required to meet net zero targets, the potential for hydrogen and ammonia to drive the low carbon transition was front and centre at SIEW Summit Session 4's "Hydrogen and Ammonia: Catalysts for a Low Carbon Energy Transition".

Exploring these fuels as catalysts for change were H.E. Dr Ahmed Mohina, First Undersecretary of Strategic Planning, Ministry of Electricity and Renewable Energy, Egypt; H.E. Richard Lochhead, Minister for Business, Scottish Government; Mr Raymond Poon, Director, Electrical and Mechanical Services Department, Hong Kong SAR, China; Mr Dick Richelle, Chairman of the Executive Board and Group Chief Executive Officer, Royal Vopak; Mr Ravi Balasubramanian, Managing Director, Portfolio Development Group, Managing Director, Investment Group, New Energy and Industrials, Temasek; and Ms Meg O’Neill, Chief Executive Officer and Managing Director, Woodside Energy.

  • Panellists noted the slow progress of investment in clean hydrogen due to high costs and limited demand, underscoring the need for stronger financial support.
  • Government representatives outlined key strategies for advancing hydrogen and ammonia initiatives. They emphasised the importance of international collaboration to accelerate progress.
  • Company representatives highlighted the need for the right policies and a level playing field for low carbon products. They also called for government incentives and mandates to drive demand for hydrogen and ammonia.
  • A proper ecosystem of partnerships is essential to scale up low carbon projects, attracting capital, and making projects like hydrogen and ammonia commercially viable.
  • While the panel agreed that hydrogen and ammonia hold strong potential as future export commodities, they acknowledged current market limitations that must be overcome to unlock their full potential. 

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Government Intervention Key to Fostering a Connected and Sustainable Energy Future in Asia

Contributed by Lee Mian Rong & Amelia Liong, EMA

Panellists at the Singapore Summit Session 1 discussed the progress of Asia's energy transition. They highlighted what it would take to accelerate the region's journey to sustainability.

  • While investment in clean energy has increased, more collaboration is required to make clean energy projects more attractive and beneficial for all stakeholders.
  • Unified effort is critical to accelerate large-scale energy infrastructure, said the panellists at SIEW Summit Session 1. They were H.E. Tse Chin-Wan, Secretary for Environment and Ecology, Hong Kong SAR, China; Mr Francesco La Camera, Director-General, International Renewable Energy Agency (IRENA); Mr Pang Xiaogang, President, State Grid Corporation of China; Mr Wong Kim Yin, Group President and Chief Executive Officer, Sembcorp Industries; and Mr Lim Wee Seng, Group Head of Energy, Renewables and Infrastructure, DBS Bank.
  • Though Asia has achieved record renewable energy installations, the speed and scale of implementation still fall short of regional targets. Current capacity is less than half of what is needed to meet ambitious energy goals.
  • Both virtual grid connection and physical grid infrastructure are essential to Asia's energy future. While physical infrastructure will take years to implement fully, virtual connections are just as crucial in enabling cross-border energy flows.
  • Asia has seen the results of positive actions. However, there is still room for improvement in technology sharing and funding collaboration across the region. Closing these gaps is essential to supporting the next phase of Asia's energy transition.
  • To accelerate collaboration, three critical elements were emphasised: political will, an industry mindset, and the availability of exchange platforms. These factors are crucial for overcoming challenges and fostering a connected and sustainable energy future in Asia.

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

Strengthening Regional Energy Connectivity for Asia's Sustainable Future

During SIEW Summit Session 3, on "Energising Regions: Advancing Regional Energy Interconnectivity", energy leaders discussed strategies to advance greater regional energy interconnectivity. On the panel were H.E. Csaba Lantos, Minister of Energy, Hungary; H.E. Dr Andrew Light, Assistant Secretary of International Affairs, Department of Energy, US; Mr Xin Baoan, Chairman, Global Energy Interconnection Development and Cooperation Organisation; Mr Thorbjörn Fors, Group Senior Vice President, Managing Director of Asia Pacific, Siemens Energy; and Mr Ong Teng Koon, Managing Director, SP PowerInterconnect, SP Group. 

  • The panellists highlighted the Nordic electricity exchange in Europe as an example of balancing diverse energy sources such as hydro and wind energy across countries. Hungary's use of interconnectors with its neighbours helped manage supply fluctuations, while SP Power Interconnect highlighted the critical role of infrastructure and protocols in supporting interconnected projects.
  • Speakers underscored the need for common standards, fair markets, and transparency in cross-border projects, stressing the importance of streamlined permitting and licensing processes to foster energy interconnectivity.
  • Panellists emphasised that energy interconnection is crucial for ensuring energy security in Asia, A step-by-step approach was recommended to avoid delays. The potential role of natural gas during the energy transition was also highlighted.

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

Building Coalitions to Drive the Energy Transition

In his Keynote during the Singapore Energy Summit, Mr Bas Verkooijen, CEO of Advario, called for "coalitions of the willing" to drive sustainable progress on a global scale.

  • Despite progress, Mr Verkooijen noted that the speed of the energy transition is not enough to meet rising global energy demands and address the impacts of climate change. He called for technological innovation to make sustainable solutions more affordable and scalable. He stressed the need for a global perspective as climate change transcends borders.
  • Mr Verkooijen stressed that the success of the energy transition hinges on strong partnerships across industries, governments, and countries. He advocated for forming "coalitions of the willing" to unite stakeholders with a shared vision. He added that collaboration is the most critical factor in driving real progress and overcoming the challenges of the global energy landscape.

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

IEA Launches First Regional Cooperation Centre in Singapore to Drive Southeast Asia's Energy Transition

Dr Fatih Birol, Executive Director of the International Energy Agency (IEA), announced the official opening of the agency’s first office outside Paris. The launch, at SIEW 2024, marks a pivotal moment as IEA expands its global reach to accelerate energy transitions in Southeast Asia. 

  • Southeast Asia is set to play a leading role in global sustainability. The new IEA Regional Centre will support countries in navigating the region's growing energy demands while shifting towards cleaner technologies.
  • Singapore's position as a hub for sustainable financing, innovation, and international energy collaboration makes it the ideal location for the IEA's first regional office. This further cements Singapore's role in global energy discussions.
  • The launch of the IEA Regional Centre coincides with the IEA's 50th anniversary, marking its evolution towards clean energy transitions. The new office will serve as a hub for capacity building, policy guidance, and technical assistance, helping countries across Southeast Asia transition to sustainable energy.
  •  Additionally, in a Special Message at SIEW 2024, Hon. Jennifer M. Granholm, Secretary, US Department of Energy, reaffirmed Southeast Asia's critical role in global sustainability across consumption, production, and manufacturing. She cited regional examples of clean energy collaboration and growth, reinforcing the importance of partnerships in achieving global sustainability goals.

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Asia's Energy Transition Requires Pragmatic and Multi-Dimensional Solutions

In a Special Address, Amin Nasser, President and CEO of Aramco, emphasised the importance of region-specific strategies. He advocated for balanced investments in both conventional and renewable energy technologies to drive Asia's energy transition.

  • Mr Nasser highlighted that the current global energy transition framework underrepresents the priorities and needs of Asia and the greater Global South. He stressed the need for greater inclusivity.
  • The energy transition plan is progressing too slowly, unevenly, and at a cost that is unaffordable for many developing countries. This could hinder their economic and social development.
  • Mr Nasser advocated for a pragmatic, multi-dimensional approach that leverages a mix of conventional energy and renewables. He emphasised the need to improve energy efficiency, reduce emissions from conventional sources, and develop new, affordable energy solutions.
  • Each country should have the flexibility to choose an energy mix suited to its specific climate goals and economic situation, rather than be bound to a one-size-fits-all global strategy.
  • Ensuring an affordable and reliable energy supply is critical alongside sustainability, said Mr Nasser. Without this, there is a risk of reverting to high-emission fuels like coal, which could hinder sustainability efforts.

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Sarawak and UN Leader Urge Greater Regional Cooperation as Key to Advancing Asia's Clean Energy Transition

At SIEW 2024, Sarawak's Premier, the Right Honourable Datuk Patinggi Tan Sri (Dr) Abang Haji Abdul Rahman Zohari bin Tun Datuk Abang Haji Openg, and HE Armida Salsiah Alisjahbana, Under-Secretary General of the United Nations and Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific, stressed the importance of renewable energy, regional cooperation, and regulatory harmonisation.

  • Sarawak has exceeded its 60 percent renewable energy target by 2024. The Malaysian state outlined its pursuit of innovative solutions such as floating solar, pump hydro, energy storage, and biomass power generation to further decarbonise its energy system and position Sarawak as a leader in renewable energy solutions.
  • Sarawak plays a key role in supporting Southeast Asia's energy transition by contributing renewable energy to the interconnected Borneo and ASEAN Power Grid. It is actively collaborating with Indonesia, Sabah, Brunei, and Singapore to drive cross-border energy projects that support the region's sustainable energy goals.
  • The Malaysian state is positioning itself as a regional energy powerhouse, showcasing how interconnected progress can lead to responsible growth. It is encouraging collaboration and inviting others to join in its journey of innovation and economic transformation towards a cleaner, more sustainable energy future.
  • H.E. Alisjahbana stressed the need for actionable strategies and collective efforts to unlock the potential of energy connectivity, particularly in power system integration.
  • The ASEAN Power Grid and the Green Power Corridor Framework are key examples of the region's progress in advancing power system connectivity and regulatory harmonisation.

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

Powering a Low Carbon Future Through Innovation

During the "Low Carbon Technologies Shaping the Energy of Tomorrow" session, industry leaders discussed advancements in low carbon solutions, investment opportunities, policy imperatives and collaboration to achieve a sustainable energy future.

  • Mr Egon van der Hoeven, Vice President of Business Development, Asia Pacific, ExxonMobil Low Carbon Solutions, highlighted the global challenge of ensuring energy security while reducing emissions, especially amid growing energy demand.
  • Mr Jim Gable, Vice President of Innovation and President of Chevron Technology Ventures, pointed to innovation, including carbon capture, as a crucial part of Chevron's efforts to address energy and emissions challenges.
  • Mr Geoffrey R. Pyatt, Assistant Secretary, Bureau of Energy Resources, US Department of State, stressed that innovation alone is not sufficient. "We could decarbonise the US economy tomorrow, and that would only solve 11 percent of the problem. We must engage the rest of the world," he said, emphasising that global decarbonisation efforts require international cooperation to make a real impact.
  • Dr Jean-Christophe Niel, Director General, Institute for Radiation Protection and Nuclear Safety (IRSN), underscored the need for collaboration in advancing and deploying new low carbon technologies. "The development of new technologies must involve all stakeholders—industry leaders, authorities, policymakers, and technical safety organisations," he said.

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Five Success Factors for Accelerating the Energy Transition

K A Habib Noor, EMA

In his Keynote, Mr Miguel Fonseca, Chief Executive Officer, EDP Renewables APAC, outlined five critical factors to speed up the energy transition.

  • EDP Renewables, which has committed to achieving net zero by 2040, has identified the five critical factors shaping the energy transition. Mr Fonseca said regulations should be simple, proactive, and designed to align stakeholders effectively.
  • Significant underinvestment in the grid remains a challenge. Expanding grid investment is crucial to lowering future energy costs.
  • Accelerating bureaucratic processes is essential to bring more clean energy projects to fruition.
  • Cross-border grid interconnections will optimise energy demand and improve energy security and resilience.
  • Transparency about environmental impacts and early community involvement are key to ensuring public support.

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Navigating the Complexities of Sustainable Energy Developments

In keynotes speeches, H.E. Rafael Mariano Grossi, Director General of the International Atomic Energy Agency (IAEA), and Yang Mulia Dato Seri Paduka Awang Haji Mohamad Azmi bin Haji Mohd Hanifah, Deputy Minister of Energy at the Prime Minister’s Office in Brunei Darussalam, discussed the critical opportunities and challenges in the evolving landscape of sustainable energy.

  • The Deputy Minister of Energy emphasised the importance of aligning the energy transition with each country's unique economic conditions. In Brunei Darussalam, the energy transition offers a unique opportunity to drive economic growth, benefiting both society and businesses.
  • To unlock these opportunities fully, collaboration is essential. Brunei is actively working with Indonesia, Malaysia, and the Philippines to develop a regional power grid. This will enhance interconnectivity in the region. Additionally, he a partnership with Japan is underway to explore the feasibility of hydrogen as a low carbon energy source.
  • In a Special Message, Mr Grossi forecasted that global nuclear capacity could increase two-and-a-half times its current size. He emphasised the complementary role of nuclear energy alongside renewable energy sources such as wind and solar, with nuclear energy contributing by-products such as processed heat and clean hydrogen for industrial and transport use.

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

SIEW 2024 Begins: Welcome!

Today marks the start of the Singapore International Energy Week (SIEW) 2024, bringing together policymakers, industry leaders, and experts under the theme, "A Connected and Sustainable Energy World". This year's agenda promises in-depth discussions and insights on advancing sustainability amid the global energy transition.

The day opens with a Welcome Address from EMA's Chief Executive, Mr Puah Kok Keong, setting the stage for the Singapore Energy Lecture, which will be delivered by Singapore's Deputy Prime Minister and Minister for Trade and Industry, Mr Gan Kim Yong at 9 am.  

As the morning unfolds, Dr Fatih Birol, Executive Director of the International Energy Agency (IEA), will officiate the Singapore launch of its IEA Regional Cooperation Centre—a key milestone in fostering collaborative energy efforts across Southeast Asia. Together with Dr Birol will be other high-level speakers including Hon. Dr Doto Mashaka Biteko of Tanzania, H.E. Keo Rottanak of Cambodia, and Hon. Shane Jones of New Zealand. These ministers will explore diverse perspectives on energy resilience and the road ahead.

In a highlight of the morning, Mr Amin Nasser, President and CEO of Aramco, will deliver a Special Address. H.E. Dr Kao Kim Hourn, ASEAN's Secretary-General, will then take the stage at the Singapore Energy Summit, guiding a day of transformative dialogue on a connected and sustainable energy world.

Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

SIEW Ministerial Dialogue: Partnerships Key to Accelerating Global Energy Transition

At the SIEW Ministerial Dialogue, energy leaders emphasised the importance of political leadership, cooperation, and financing in advancing the global energy transition. They also stressed the need for inclusivity and regional collaboration to achieve success.

  • The Hon. Dr Doto Mashaka Biteko of Tanzania, HE Keo Rottanak of Cambodia, and Hon. Shane Jones of New Zealand emphasised the need for private-sector investment and international partnerships to accelerate large-scale energy infrastructure projects. These efforts are critical to fast-track the energy transition.
  • Panellists, during the SIEW Ministerial Dialogue, acknowledged the challenge of balancing energy security, consumer affordability, and environmental goals. The ministers stressed that managing these trade-offs are vital for a smooth energy transition.
  • Panellists stressed the importance of public engagement, protecting vulnerable groups, and ensuring transparency around the costs and benefits involved.
  • Cross-border energy cooperation, such as the ASEAN Power Grid, can improve energy access and reduce costs. Panellists highlighted how regional interconnectivity enhances resource optimisation and affordability.
  • Strong leadership and a long-term vision are essential to driving the energy transition forward. The ministers agreed that political will is crucial to overcoming challenges and unlocking opportunities for a sustainable energy future.

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

Closer Collaboration and Innovation Crucial for Building a More Connected and Sustainable Energy Future

Strong partnerships and groundbreaking technologies are needed for ASEAN to drive sustainability and resilience in the energy sector.

  • H.E. Dr Kao Kim Hourn, Secretary-General for ASEAN, said the ASEAN Power Grid is crucial for enhancing energy resilience, regional integration, and advancing a low carbon future. A significant milestone was achieved with the completion of the first phase of the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project, showcasing the feasibility and benefits of multilateral cross-border collaboration.
  • Extensive partnerships with dialogue partners, international organisations have enabled ASEAN to mobilise investments, access technical expertise, and strengthen policy frameworks to drive the region's energy transition.
  • Beyond the ASEAN Power Grid, Phase 2 of the ASEAN Plan of Action for Energy Cooperation (APAEC) 2021-2025 has made notable progress. The initiative has achieved 33.3 percent in installed renewable capacity, surpassing its target of 32 percent. ASEAN has further achieved a 24.5 percent reduction in energy intensity from 2005 levels, demonstrating ASEAN's commitment to optimising energy use.
  • Phase III, commencing in 2026, will focus on accelerating decarbonisation and promoting a just and inclusive energy transition. Key priorities include expanding energy infrastructure, advancing smart grids, enhancing renewable energy adoption, and exploring carbon capture, utilisation and storage (CCUS).

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

SIEW 2024 Kicks Off: Connecting Global Efforts for a Sustainable Energy Future

The 17th Singapore International Energy Week opens with a call for stronger cross-border collaboration to tackle growing energy demands while accelerating decarbonisation efforts worldwide.

  • EMA's Chief Executive Puah Kok Keong, in his Welcome Address, introduced this year's theme, "A Connected and Sustainable Energy World", emphasising global energy collaboration. Deputy Prime Minister and Minister for Trade and Industry, Mr Gan Kim Yong, reaffirmed Singapore's commitment to net zero by 2050, ensuring economic growth balanced with sustainability.
  • DPM Gan emphasised the importance of regional energy interconnectivity within ASEAN. Singapore's leadership was highlighted with the launch of the International Energy Agency (IEA) Regional Centre, the first outside Paris, to drive clean energy transitions across Southeast Asia.
  • Singapore continues investing in low carbon solutions such as hydrogen and carbon capture, utilisation and storage (CCUS). A grant call for carbon capture and storage (CCS) feasibility studies was announced, advancing Singapore's decarbonisation efforts.
  • Singapore is enhancing grid responsiveness and capabilities through the Virtual Power Plant (VPP) pilot and expanding demand response programmes. The Future Grid Capabilities Roadmap, launching later this year, will integrate distributed energy sources, including electric vehicle charging systems. This is to build a more flexible and resilient grid.
  • The second Energy Storage R&D grant was awarded to support research into critical energy storage technologies. These technologies are essential for managing renewable energy and strengthening grid stability.

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Stay tuned as the conversation evolves throughout the day. Follow @SIEW_sg on Telegram and Twitter for key insights, as we navigate Day 1 together.

SIEW Live 2024

SIEW Live: Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry
SIEW Live Q2: Commissioner Mark C. Christie, U.S. Federal Energy Regulatory Commission
SIEW Live: H.E Francisco da Costa Monteiro, Minister of Petroleum and Mineral Resources, Timor-Leste
SIEW Live: Dr Kao Kim Hourn, Secretary General, ASEAN Secretariat

Media Releases

EMA to Seek Proposals for Electricity Imports

Oct 25, 2021, 17:05 by User Not Found

The Energy Market Authority (EMA) intends to issue two Requests for Proposal (RFP) for up to a total of 4 gigawatts (GW) of low-carbon electricity imports into Singapore by 2035, as part of Singapore’s efforts to decarbonise our power sector and enhance energy security by diversifying energy supply sources. This is expected to make up around 30% of Singapore’s electricity supply in 2035. The remaining supply will continue to come from various sources, ranging from the current natural gas-fired power plants to solar and waste-to-energy sources. The first RFP will be launched in November 2021, while the second RFP is expected to be issued in the second quarter of 2022.

2  Climate change is a global existential threat and Singapore is doing its part to reduce emissions for a more sustainable future. The power sector has a key part to play as it accounts for about 40% of Singapore’s carbon emissions. We are transitioning to greener energy sources and harnessing the four Switches – natural gas, solar, regional power grids and low-carbon alternatives – to transform our energy supply. These will allow us to reduce the power sector’s emissions and ensure that our power system remains secure, reliable and sustainable.

3  Today, natural gas, which is the cleanest-burning fossil fuel, is our first “switch” and is used to produce around 95% of Singapore’s electricity. EMA will continue to work with the power generation companies to improve the efficiency of their power plants. Solar is our second “switch” – Singapore is maximising solar deployment and is on track to achieving our target of 1.5 gigawatt-peak (GWp) by 2025 and at least 2 GWp by 2030. However, Singapore is land-constrained. Despite our best efforts, solar will likely constitute only about 3% of the country’s total electricity demand in 2030.

4 Regional power grids are our third “switch”, and will enable Singapore to access low-carbon energy beyond our shores, while supporting regional decarbonisation efforts. We will also develop our fourth “switch” – low-carbon alternatives like hydrogen and technologies such as carbon capture, utilisation and storage which can reduce carbon emissions from using fossil fuels for power generation.

5 EMA will conduct the first RFP to import up to 1.2 GW of electricity. This will begin by 2027, while the second RFP will be for the remaining quantities of electricity imports by 2035 (Refer to Annex for frequently asked questions on electricity imports). Mr Ngiam Shih Chun, Chief Executive of EMA, said, “To maintain energy reliability, EMA will work with potential importers to ensure that sufficient safeguards are put in place to mitigate against any prolonged supply disruptions. EMA will also look into diversifying the sources of imports to mitigate potential risks.”

6 The RFPs for electricity imports will allow Singapore to further our efforts in developing regional power grids and supporting regional decarbonisation, while supporting our climate action and diversifying our energy sources.

7 To prepare for future electricity imports, EMA has been working with various partners over the last two years on trials to import electricity. The trials allow EMA to assess and refine the technical and regulatory frameworks for importing electricity into Singapore. EMA has appointed YTL PowerSeraya Pte Ltd (YTLPS) for a two-year trial to import 100 megawatts (MW) of electricity from Peninsular Malaysia, following a RFP process initiated in March 2021. YTLPS was selected as its proposal was best able to meet EMA’s requirements to trial electricity imports via the existing interconnector. This is expected to commence in early 2022.

8 EMA is also embarking on a pilot with a consortium led by power generation company PacificLight Power Pte Ltd (PLP) to import 100 MW equivalent of non-intermittent electricity from a solar farm in Pulau Bulan, Indonesia. Electricity will be supplied via a new interconnector that directly connects a solar farm in Pulau Bulan to PLP’s power station in Singapore. The pilot is expected to be commissioned by around 2024.

9 Singapore is also working on the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP) to import up to 100 MW of power from Lao PDR to Singapore via Thailand and Malaysia using existing interconnections from 2022 to 2023. In September 2021, the four countries issued a Second Joint Statement to reaffirm their commitment towards the project, welcome the good progress of discussions and look forward to the early finalisation of all agreements underpinning LTMS-PIP to commence cross-border power trade in 2022. The project will serve as a pathfinder towards realising the broader ASEAN Power Grid vision of multilateral electricity trading in the region.

10 The two RFPs will outline the requirements, including how electricity imports should be from low-carbon sources. Proposals for electricity imported from coal-fired generation sources will not be accepted. Companies which are interested may visit the EMA website at www.ema.gov.sg in November 2021 and Q2 2022 for the details and submission process of the first and second RFP respectively.

Annex: Frequently Asked Questions on Electricity Imports

– End –

About the Energy Market Authority

The Energy Market Authority (EMA) is a statutory board under the Singapore Ministry of Trade and Industry. Through our work, we seek to forge a progressive energy landscape for sustained growth. We aim to ensure a reliable and secure energy supply, promote effective competition in the energy market and develop a dynamic energy sector in Singapore. Visit www.ema.gov.sg for more information.

Instagram: @EMA_Singapore | Facebook: facebook.com/EnergyMarketAuthority | Twitter: @EMA_sg | LinkedIn: linkedin.com/company/energy-market-authority-ema-/

For media enquiries, please contact:

Finn Partners
Mr Luke Nazir
Tel: (65) 6779 5514
Email: Luke.Nazir@finnpartners.com 

Energy Market Authority
Ms Wu Wan Ying
Assistant Manager, Corporate Communications
Tel: (65) 9295 7016
Email: wu_wan_ying@ema.gov.sg 

Ms Goh Pei Yong
Manager, Corporate Communications
Tel: (65) 9853 8632
Email: goh_pei_yong@ema.gov.sg 

ANNEX

FREQUENTLY ASKED QUESTIONS ON ELECTRICITY IMPORTS

  1. Why do we need to import electricity?

    A regional power grid will accelerate the development of renewable energy in the region. These projects will facilitate greater interconnectivity between countries in the region, and provide greater resilience and stability for all parties involved. Today, some Southeast Asian countries have an abundance of renewable energy sources. Singapore could also in turn access low-carbon energy such as wind, large-scale solar and hydropower that are unavailable here. Tapping on regional power grids will allow us to diversify our energy sources that are cost-competitive and meet our climate change commitments, while ensuring continued energy security. Many other regions also make use of regional grids, for example, in the European Union, and between USA and Canada.

  2. How can EMA ensure that Singapore’s energy security will not be at risk when importing electricity as an essential utility?

    We are mindful of the need to maintain our energy security with the introduction of electricity imports. We will continue to maintain supply security and reliability through measures such as diversifying our sources, capping the amount of imports per source grid and ensuring sufficient backup capacity. Furthermore, importing electricity is similar to how we have been importing natural gas from overseas sources.

  3. Will the electricity imports come from renewable sources only?

    The imported electricity should preferably be from low-carbon sources. EMA recognises that non-renewable sources may be needed as a start to make the imports commercially viable or available as baseload power. For example, some thermal generation may be needed to smoothen intermittency from solar generation. Nonetheless, proposals for electricity imported from coal-fired generation sources will not be accepted.

    The importer will need to submit Renewable Energy Certificates (RECs) to EMA annually for verification purposes. These RECs will need to adopt a recognised standard, and be verified by accredited platforms or providers, e.g., International RECs (I-REC), Tradable Instrument for Global Renewables (TIGR) by APX.

  4. Which countries are we looking at importing electricity from?

    The trials that EMA are conducting to assess and refine the technical and regulatory frameworks for electricity imports will come from Malaysia, Lao PDR and Indonesia. Beyond these projects, EMA has received proposals from companies for imports from countries in the region and beyond. While projects that are from sources closer to Singapore could be more competitively priced, diversity of supply sources is also one of our key considerations to maintain our energy security.

  5. Will electricity imports lower electricity costs for consumers?

    Electricity imports may or may not be more expensive than gas-generated power. It depends on the distance of their source location, technology used and resilience measures for imports. It also depends on the price of gas, which can vary widely. An RFP process will ensure that we select the bids which provide the best value for money. More information will be provided during the launch of the RFPs for imports.

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