Regional demand for affordable, large-scale, and easy-to-deliver renewable electricity
Electricity is a very important factor for Singapore’s highly industrialized economy. For Singapore, access to low-cost and reliable electricity in the medium to long term is critical to supporting long-term development and enhancing economic competitiveness. Currently, 95% of Singapore’s electricity sources depend on gas generation.
To reduce this dependence, in 2019, Singapore’s Minister of Trade & Industry Chan Chun Sing introduced the “Four Switches” policy formulated by the Energy Market Authority of Singapore. This policy aims to increase electricity imports from renewable sources.
Affordable, large-scale renewable energy will support economic transformation in Australia’s Northern Territory.
The Government of the Northern Territory, Australia recognizes the potential of renewable energy in supporting local economic development and is taking the necessary steps to shift away from the mix generation currently in use. Currently, the Government of the Northern Territory, Australia is developing a Roadmap to a Renewable Energy policy, carrying out energy market reforms, and implementing all the recommendations of the Northern Territory Commission for Economic Reconstruction Report,—all of which highlight the importance of renewable energy supplies.