Soh Yap Choon, Assistant Chief Executive, System Operation, Energy Market Authority, speaking at the Asian Energy Financial and Investment Conference
By Lee Joo Yeow
Asia has vast scope for energy investments and interconnections, panellists said on Tuesday at Singapore International Energy Week 2015, citing China’s efforts to strengthen its electricity grid and encourage the use of cleaner sources of power.
Wang Min, executive vice president at State Grid Corporation of China, said investments and breakthroughs in ultra-high voltage transmission have allowed electricity to be moved efficiently to load centres with little loss.
The ability to transmit electricity over long distances has had environmental benefits by reducing the reliance on diesel-powered trains to transport coal to coastal regions for power generation, he told the Asian Energy Financial and Investment Conference.
More than US$1.6 trillion was invested in energy supply around the world in 2013, more than double the 2000 figure in real terms, according to the International Energy Agency.
“While this figure is expected to increase, there still remains a risk of shortfall in global energy investments,” said Soh Yap Choon, assistant chief executive of Singapore’s Energy Market Authority. “Asia has huge potential for energy infrastructure investment.”
As fossil fuel reserves decline, clean energy’s share in the energy mix is expected to rise, the panellists said.
State Grid Corporation of China has set up an integrated renewables demonstration area to develop capabilities in clean energy and connect renewables-based power generation to the transmission network, Wang said.
China is also working to establish international energy connections to meet global power demand with clean and green alternatives, he added.
About Singapore International Energy Week (SIEW)
In its 8th edition, Singapore International Energy Week is the premier platform in Asia for energy insights, partnerships and dialogue, bringing together the world’s leading conferences, exhibitions and roundtables in one week and one location. SIEW enriches the global energy conversation by convening political, business, academic and energy industry thought-leaders to define and advance the world’s energy challenges, solutions and actions across the spectrum of oil and gas, clean and renewable energy, and energy infrastructure financing.
Please visit www.siew.gov.sg for more information.
About the Energy Market Authority
The Energy Market Authority (EMA) is a statutory board under Singapore’s Ministry of Trade and Industry. Our main goals are to ensure a reliable and secure energy supply, promote effective competition in the energy market and develop a dynamic energy sector in Singapore. Through our work, we seek to forge a progressive energy landscape for sustained growth.
Please visit www.ema.gov.sg for more information.