Er Edwin Khew, Chairman of Sustainable Energy Association of
Ladies and Gentlemen,
1. It is my pleasure to join you this afternoon.
2. The recent UN Intergovernmental
Panel on Climate Change (IPCC) Special Report on Global Warming of 1.5°C was a grim
reminder on the need to take urgent action to reduce our carbon emissions. Notably,
a commentary by the Asian Development Bank (ADB) in The Business Times last week underscored the importance of
increasing global investment into clean energy, and for all countries, particularly
in the Asia-Pacific, to embrace renewable energy.
Hence it is timely that we are focusing on the adoption and development
of clean energy today.
Energy & Singapore
3. As energy demand in Singapore grows, we must continue to
explore options that meet our needs in a secure, competitive and sustainable
manner. Among the clean energy options, solar energy is the most feasible for
Singapore. We plan to raise the adoption of solar power in Singapore to 350 Megawatt
peak by 2020, and to 1 Gigawatt peak beyond 2020. Initiatives like the SolarNova
Programme and the installation of solar photovoltaic (PV) panels on the
rooftops of HDB blocks are contributing to these targets.
4. We are also investing in innovative solar technologies
to overcome our land constraints. At the ACES opening ceremony yesterday, Minister
for the Environment and Water Resources Masagos Zulkifli spoke on PUB’s plans to
explore floating solar PV systems at four of our reservoirs. He also spoke
about a Request for Information, led by EDB, to assess the feasibility of
deploying a commercial floating solar PV system at Kranji Reservoir. These
floating solar initiatives could potentially supply up to 160 Megawatt peak of
solar energy, which is equivalent to taking about 19,000 cars off the road
Opportunities in Clean Energy
5. Regionally and globally, there are growing
opportunities in renewables and clean energy. The ADB’s Strategy 2030 indicates
that 75% of its committed operations would support climate change mitigation
and adaptation by 2030, and climate finance from ADB’s own resources would reach
US$80 billion cumulatively from 2019 to 2030. The International Energy Agency
notes that the share of renewables in meeting global energy demand is expected
to grow by a fifth to reach 12.4% in 2023. It is opportune for companies to adopt
clean energy, and leverage the prospects for innovation and growth.
6. I am inspired to see so many clean energy start-ups here
today, which bodes well for the development of the clean-energy ecosystem in
Singapore. This is an excellent platform to share your ideas, receive valuable
feedback, and perhaps bring them a step closer to commercialisation.
7. I would like to commend SEAS for their tireless
efforts in promoting clean energy in Singapore. The working group mentioned by
Er Edwin earlier for start-ups to share their ideas and innovations with
established industry professionals, is an excellent initiative. Such efforts
will go a long way in growing and sustaining the clean energy sector in
8. I would like to encourage everyone to continue your
good work and contribute to the development and vibrancy of the clean energy
space. I wish you all a fruitful event. Thank you.