Singapore set to miss 2035 green-power import target
SINGAPORE: Singapore is set to fall short of its 2035 target of importing 6 gigawatts of low-carbon electricity, a report from research and consultancy firm Wood Mackenzie said on Wednesday.
Singapore is forecast to miss its 2035 target of importing 6 gigawatts of low-carbon electricity, according to a report by Wood Mackenzie. Currently, the country has approved 9.25 GW of import capacity across six corridors, but none of the projects have progressed beyond the approval stage. The report highlights several key challenges, including export permit regimes, project bankability, cross-border transmission financing, and the absence of a mechanism for buyers to claim the carbon value of imported power.
Malaysia is the only corridor with a realistic path to delivering the required capacity by 2035, with up to 1 GW of interconnector capacity already in place. Other countries, such as Indonesia, Vietnam, Cambodia, and Australia, together account for 43% of the approved pipeline, but progress remains stalled due to various regulatory and logistical issues.
Imported power will need to compete with Singapore's existing wholesale electricity prices, while the Energy Market Authority (EMA) is also expanding its plans for hydrogen-ready gas-fired generation.
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