Plans for International Energy Agency (IEA) Regional Cooperation Centre anchored in Singapore will support decarbonisation efforts and foster greater cooperation within the region. Rebecca Lee reports.
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In his opening remarks for the Singapore-IEA Forum, Dr Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, Singapore, spoke about how the world is at a critical juncture in the fight against climate change. He said “Investments in clean energy, along with enhancements to our grid infrastructure is essential to accelerating the deployment of renewables and new energy technologies with solar, hydro power, hydrogen and other low carbon alternative technologies”. He also added that the IEA and its member countries agree that more can be done to support Southeast Asia’s journey towards net zero, and announced Singapore and IEA’s plans for an IEA Regional Cooperation Centre to be set up locally.
Anchoring IEA’s efforts in the region
Dr Tan emphasised the importance of IEA’s policy guidance and technical assistance in accelerating Southeast Asia’s regional transition towards a sustainable energy future. He said “Let us therefore leave no stones unturned as we work together to accelerate investments in clean energy, foster innovation and strengthen international cooperation”.
Mary Burce Warlick, Deputy Executive Director, International Energy Agency (IEA) further reinforced the significant role of Southeast Asia in the global energy transition, given its growing energy demands, reaffirming that “ASEAN is an emerging heavyweight power in global energy in terms of the speed of its development” and that “the region will play an even bigger role in global energy trends and transitions”.
She also spoke about the vision for the plans of the IEA Regional Cooperation Centre in Singapore, which will be a demonstration of their commitment and collaboration with Southeast Asian countries.
Cause for optimism
Keisuke Sadamori, Director, IEA talked about the significant progress towards decarbonisation, shown evidently in the speed of solar energy and electric vehicle adoption. In Singapore, Dr Tan added that about 1 GWp of solar power has been deployed and we are on track to achieve 2 GWp by 2030. Singapore has also implemented the largest energy storage system, in Southeast Asia, at 285 MWh. Besides solar, Singapore is also exploring other potential decarbonisation pathways, like assessing the potential of geothermal resource and possibility of civilian nuclear energy.
Collaboration is key to keep to our 1.5°C targets
Ms Warlick highlighted that while there has been progress, there is still much more to do. To meet our 1.5°C goal, we would need to significantly increase installed capacity of renewables and electrification of vehicles. Mr Sadamori also noted that grid developments will need to accelerate to keep up with the transitions. Over the next two decades, close to 80 million km of grid infrastructure will need to be added or replaced, which will require significant investments. Financing from the private sector will be crucial, and governments play a role to make the regulatory environment attractive and enable such investments. Minister Tan noted that “harnessing our collective effort” will enable a much better chance of achieving our commitments.
It is evident that there has been significant progress in the efforts to decarbonise. Regardless, substantial efforts lie ahead and close collaboration between governments, international organisations and the private sector will be necessary to meet the goal of 1.5°C. IEA’s plans for a Regional Cooperation Centre in Singapore signify promising decarbonisation opportunities for Southeast Asia.