Singapore aims to boost solar capacity to 2 GW and build up to 4 GW of interconnections to import clean electricity from neighbouring countries like Indonesia, VietNam and Cambodia, based on its 2030 Green Plan. With its substantial financial resources and positioning, Singapore has the financial muscle to fuel Asia’s energy transition, making it well-suited to lead and fund renewable projects in the region.
The report summarises:
- Accelerating cross-border interconnections is critical for Singapore’s net-zero target.
- Renewables are poised to replace gas to power Singapore in the next couple of decades, as the country increases renewable power exchanges with neighbouring countries.
- Due to its geographical reality, Singapore cannot rely on its domestic energy capabilities alone and must leverage the renewable energy potential of its larger and less resource-constrained neighbours.
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