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SINGAPORE: The Energy Market Authority (EMA) awarded a total of S $ 23 million in grants to three power generation companies for energy efficiency projects that will reduce their carbon emissions, the authority said on Tuesday (October 27). ).
The three companies are Senoko Energy, Tuas Power Generation and YTL PowerSeraya.
Making the announcement at Singapore International Energy Week (SIEW), Second Minister for Trade and Industry Tan See Leng said the move is “just one area” that Singapore is working on to achieve an energy future. cleaner and more efficient.
But even as Singapore shifts to other, cleaner energy sources, liquefied natural gas (LNG) will remain a substantial part of Singapore’s energy mix for the near future, he added.
Second Minister of Trade and Industry Tan See Leng speaking at Singapore International Energy Week on October 27.
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Dr Tan noted that natural gas made up 26 percent of Singapore’s energy mix in 2001 and has increased to 95 percent today.
“However, only recently, with the liberalization of Singapore’s energy market and the start of operations of the LNG terminal in 2013, have we been able to take advantage of LNG on such a large scale,” he added.
“And since then, LNG has played an increasingly important role in power generation and other industry needs. This is exemplified by the number of power generation companies that have started using more efficient gas turbines and how refineries and petrochemical companies have switched to LNG for their operations ”.
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These grants are part of Genco’s Call for Energy Efficiency Grants, under the Enhanced Industrial Energy Efficiency Package, which will co-finance up to 50 percent of the energy efficiency projects of power generation companies.
The grants awarded correspond to the carbon reduction achieved through the projects, subject to a cap of up to 50 percent of the project qualification costs.
The projects will be implemented between now and 2024, the EMA said in a press release.
When completed, the projects are expected to achieve an annual carbon reduction of more than 30 kilo tons per year. This is equivalent to taking around 9,200 cars off the road a year.
“Reducing our carbon emissions by promoting greater energy efficiency within our power generation sector is critical in our fight against climate change,” said EMA CEO Ngiam Shih Chun.
“We are encouraged by the efforts of power generation companies to become more energy efficient and we will continue to work with them toward a more sustainable energy future.”
EMA will launch the second run of Genco’s Call for Energy Efficiency Grants in January 2021, in order to continue its support for power generation companies to “improve their energy efficiency and reduce their carbon emissions,” it said.
Energy and the fuel sources used to generate it “form the foundation” of an economy and propel it forward, Dr. Tan said in conclusion.
“LNG has proven to be a fundamental pillar. For the present and the foreseeable future, it will not only continue to play an important role in Singapore’s energy mix, but will also help the world address the challenges of climate change, ”he said, adding that advances in technology could also make hydrogen becomes a key energy resource.
“However, to leverage these resources, industries, organizations and governments have to work together to plan and implement new strategies to ensure that today’s needs are met while addressing the challenges of tomorrow.”
