Is Singapore poised to capture opportunities in the offshore wind industry?

As the global energy market shifts towards renewable energy, more countries are embracing energy sources such as offshore wind. With high growth potential, Singapore is poised to capture opportunities in the nascent industry. Learn more about the offshore wind industry and discover how we can support you on your journey.

Does Singapore need a wind turbine?

As a small, resource-constrained country, Singapore imports almost all its energy needs, and has limited renewable energy options: Commercial wind turbines operate at wind speeds of around above 4.5m/s but the average wind speed in Singapore is only about 2m/s.

Can Singapore generate enough baseload electricity from renewable sources?

With the limited renewable energy options available to us and the current technological capabilities, we are not able to generate sufficient baseload electricity from renewable sources reliably for Singapore. Nevertheless, Singapore aims to deploy at least 2 gigawatt-peak of solar energy by 2030.

Could Singapore sit at the 'core' of new energy grids in Southeast Asia?

Singapore could sit at the “core” of new regional electricity grids in Southeast Asia, with proposed interconnections to neighbouring countries set to bring 25GW of new renewable power and energy storage projects online. This is according to Rystad Energy, which published a report into Singapore’s role in the Southeast Asian energy mix this week.

Why is Singapore a good place to invest in renewables?

Finally, Singapore has built up a vibrant ecosystem of companies across the value chain ranging from clean energy solution providers, project and legal advisories and financiers that can support the development and execution of renewables projects in the region.

Should Singapore import more electricity?

The Rystad Energy report notes that strong market dynamics could encourage Singapore to look to import more electricity, with both renewable energy, and energy generated overseas, boasting a lower levelised cost of electricity (LCOE) that domestically-produced fossil fuels.