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SPEECH BY DR AMY KHOR, SENIOR MINISTER OF STATE FOR THE ENVIRONMENT AND WATER RESOURCES AND HEALTH AT POWERACE 2018, 1 NOVEMBER 2018

Er Edwin Khew, Chairman of Sustainable Energy Association of Singapore (SEAS)

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.

Clean 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 annually.

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.

PowerACE 2018

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.

Conclusion

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 Singapore.

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.

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