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Time of India
30-06-2025
- Business
- Time of India
Singapore's renewables usage hits record high as imports, solar output rise
Singapore boosted the share of renewables in its power generation mix to a record high in May, an analysis of the latest market data showed, as the country ramped up renewable imports and accelerated local solar power generation. Domestic solar generation in May rose at the fastest pace since March 2024 and renewable imports rose a third straight month to their highest in more than two years, lifting the share of renewables in the city-state's power mix to 2.58 per cent, data from the National Electricity Market of Singapore showed. Cross-border power trade is seen as key to easing regional reliance on fossil fuels amid growing data centre-driven power demand. Singapore expects to meet 6 GW, or around one-third of its power demand from clean electricity imports by 2035, as Asia's second-smallest country has limited renewable energy potential. Gas-fired power plants in Singapore account for about 95 per cent of its power capacity. In the five months through May, the data showed Singapore imported 122.7 million kilowatt-hours of clean power, or 0.52 per cent of total generation, the data showed. It did not import any power during the same period last year, the data showed, and only started importing small quantities in the last quarter of 2024. The share of imports in Singapore's power mix rose for a third straight month in May, displacing some fossil fuel-fired generation. Singapore's total electricity generation grew 0.4 per cent during the first five months, the data showed. Singapore has two active cross-border power trade deals: the 200 MW Lao PDR-Thailand-Malaysia-Singapore (LTMS) and the 50 MW Energy Exchange Malaysia (ENEGEM) pilot project with Malaysia's state utility Tenaga Nasional Berhad. The Singapore Energy Market Authority's chief executive said in October the terms of an extension to the LTMS had yet to be finalised, as Singapore was waiting for Thailand to finalise details on transmission charges for the multilateral deal. On Friday, the EMA told Reuters in a statement that discussions were "ongoing for future enhancements to the LTMS," without elaborating further.
Straits Times
30-06-2025
- Business
- Straits Times
Singapore's renewables usage hits record high as imports, solar output rise
Domestic solar generation in May rose at the fastest pace since March 2024 and renewable imports rose a third straight month to their highest in more than two years. ST PHOTO: LIM YAOHUI SINGAPORE - Singapore boosted the share of renewables in its power generation mix to a record high in May, an analysis of the latest market data showed, as the country ramped up renewable imports and accelerated local solar power generation. Domestic solar generation in May rose at the fastest pace since March 2024 and renewable imports rose a third straight month to their highest in more than two years, lifting the share of renewables in the Republic's power mix to 2.58 per cent, data from the National Electricity Market of Singapore showed. Cross-border power trade is seen as key to easing regional reliance on fossil fuels amid growing data centre-driven power demand. Singapore expects to meet 6 gigawatts (GW), or around one-third of its power demand from clean electricity imports by 2035, as Asia's second-smallest country has limited renewable energy potential. Gas-fired power plants in Singapore account for about 95 per cent of its power capacity. In the five months through May, the data showed Singapore imported 122.7 million kilowatt-hours of clean power, or 0.52 per cent of total generation, the data showed. It did not import any power during the same period in 2024, the data showed, and only started importing small quantities in the last quarter of 2024. The share of imports in Singapore's power mix rose for a third straight month in May, displacing some fossil fuel-fired generation. Singapore's total electricity generation grew 0.4 per cent during the first five months, the data showed. Singapore has two active cross-border power trade deals: the 200 MW Lao PDR–Thailand–Malaysia–Singapore (LTMS) and the 50 MW Energy Exchange Malaysia (ENEGEM) pilot project with Malaysia's state utility Tenaga Nasional Berhad. Singapore's Energy Market Authority (EMA) chief executive Puah Kok Keong said in October the terms of an extension to the LTMS had yet to be finalised, as Singapore was waiting for Thailand to finalise details on transmission charges for the multilateral deal. On June 27, the EMA told Reuters in a statement that discussions were 'ongoing for future enhancements to the LTMS,' without elaborating further. REUTERS Join ST's WhatsApp Channel and get the latest news and must-reads.
New Straits Times
29-05-2025
- Business
- New Straits Times
'Asean 2045: Our Shared Future' is a living promise to region's people
LETTERS: Asean (Association of Southeast Asian Nations) must progress beyond procedural consensus towards courageous and principled decision-making. The well-being of Asean citizens should be a priority in all the bloc's policies. This isn't merely an abstract concept. Malaysia's focus on inclusivity and sustainability during its chairmanship of Asean exemplifies this vision. It's about creating a future where everyone, regardless of background or location, is included. Behind trade agreements and regional strategies are real people whose lives depend on effective leadership. The implementation of the Asean Integrated QR Code Payment System, for instance, is about empowering small businesses to engage in regional trade and ensuring they are part of the digital economy. Malaysia's green transition plan, including initiatives like Energy Exchange Malaysia, demonstrates how leadership can prioritise long-term sustainability while generating new economic opportunities. Asean faces external pressures, internal conflicts and rapid digital transformation. It must bridge the gap between institutions and the people they serve. 'Asean 2045: Our Shared Future' is a living promise to its people, a commitment to a future where peace, prosperity, and human dignity are everyday realities. Faculty of Economics and Management Universiti Kebangsaan Malaysia
Business Times
09-05-2025
- Business
- Business Times
Common standards needed to boost trade in renewable energy certificates
[SINGAPORE] The lack of standards around the cross-border trade of renewable energy certificates (RECs) is a key barrier preventing companies from signing offtake agreements with low-carbon electricity producers around South-east Asia, said Low Xin Wei, assistant chief executive for the markets and systems division at the Energy Market Authority. This means that there is a lack of additional revenue for these electricity importers, with which the Singapore government is looking to ink electricity import contracts to meet its net-zero targets. He said that major international standards, such as the Greenhouse Gas Protocol, do not explicitly recognise the cross-border trade of RECs as a valid form of renewable energy procurement. The only exceptions are in the European Union and North America, where markets have been harmonised, said Low at a climate conference on Thursday (May 8). RECs are tradeable assets that are issued when 1 megawatt-hour of electricity is generated and delivered to the electricity grid from a renewable energy resource. Companies can purchase these certificates to reduce their Scope 2 emissions, which are emissions arising from their use of electricity generated from power stations. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up Given that Singapore has limited renewable energy resources, the amount of RECs that can be generated locally is constrained. There would only be a small pool of such certificates for companies to buy to offset their Scope 2 emissions. The Ministry of Trade and Industry previously announced that plans to establish a cross-border trading framework were under way. Low also said that there is a need to continue with concrete, small steps to make the Asean power grid a reality, starting with bilateral projects. 'Low-hanging fruits would be those which make use of existing interconnectors.' This includes the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project – a cross-border electricity trade that imports hydropower from Laos to Singapore – as well as the Energy Exchange Malaysia, a platform to facilitate cross-border electricity sales focused on renewable energy.
