ingapore has designated 2018 as the Year of Climate Action. Alongside other major cities around the world, Singapore is increasing our efforts to reduce our carbon footprint and strengthening our resilience against climate change.
With our leadership positions in the domains of clean energy, water and environment, we are building a more liveable and sustainable city. We are on track to surpassing our initial goal of 350 MW solar photovoltaic (PV) deployment by 2020, and are raising our solar capacity to 1GW beyond 2020. We have also successfully deployed a floating PV test-bed in Tengah Reservoir, and started to research sea-based floating PV systems to overcome our space constraints.
There are significant economic opportunities for the environment sector - Cleantech companies take advantage of our advanced infrastructure, global connectivity and vibrant R&D ecosystem, to innovate, build capabilities, and grow. One example is the Renewable Energy Integration Demonstrator – Singapore (REIDS) testbed, which is today both a technology development platform and microgrids marketplace for the region. Regional solution adopters are using REIDS to collaborate with top technology companies and develop rural microgrid solutions suited to their needs. We are positioning Singapore to be the preferred “Living Lab” to ideate and develop cleantech solutions for the world.
This year, Singapore is the ASEAN Chair and we want to contribute to the fast-growing ASEAN region. ASEAN brings about many opportunities for companies. It will be the fourth largest single market globally by 2030, and will be home to the world’s fastest growing middle-class, who will demand more and sophisticated consumer goods and services, including reliable, sustainable and affordable energy. Our integrated approach towards energy, water and environment puts us in a good position to help companies capitalise on these regional growth opportunities.
We are pleased to extend our continued support for the Singapore Environmental Industry Directory, to connect businesses with opportunities within this growing sector, and to jointly create a smarter, greener and more liveable Singapore for generations to come.
Mr Chng Kai Fong
Singapore Economic Development Board