Looking to understand the forces transforming energy markets in Asia? In this debut episode of SIEWCast, host Rachel Kelly is joined by the Energy Market Authority (EMA)'s Chief Executive Ngiam Shih Chun. Tune in to the conversation as our guest sheds some light on Singapore power sector’s aim to achieve net zero by 2050.
Show Notes:
In this episode, we discuss…
- Singapore's multi-pronged strategy for the power sector to achieve net zero by 2050.
- The challenge in balancing the energy trilemma of energy security, sustainability and affordability.
- Why investing in skills is key to realising "A Resilient and Sustainable Energy Future".
- The importance of international cooperation towards shared decarbonisation goals.
- Key highlights to expect at SIEW's 15th anniversary event.
Key Takeaway
01:23 | Technically feasible for Singapore’s power sector to achieve net zero by 2050—Energy 2050 Committee Report
02:14 | Singapore is harnessing the "Four Switches" to decarbonise energy supply.
02:25 | Natural gas will continue to be a key fuel source as Singapore scales up other three Switches.
02:40 | Solar capacity on track to reach 1.5GWp by 2025, but it even if all available space is maximized, it will not be sufficient to meet the demand.
03:27 | Singapore can look to the region which has vast renewable energy resources. The plan is to import around 30% of Singapore’s electricity supply by 2035. This now includes 100MW of clean hydropower from Laos.
04:50 | Singapore will have to grapple with balancing the energy trilemma, as well as build up a pipeline of talent to tap the opportunities arising from the energy transition.
06:58 | International cooperation will be key to staying on the decarbonisation pathway.
09:49 | Singapore-IEA Ministerial Roundtable to debut at SIEW for the first time.
Singapore’s ambition is to achieve net zero by or around mid-century, The power sector plays a very key role in this as it accounts for about 40% of Singapore’s emissions. The Energy 2050 Committee report has said that it is technically feasible for the power sector to achieve net zero by 2050, but as we decarbonise the power sector, one of the key challenges would be in balancing the energy trilemma.
Additional Resources
You can download a copy of the transcript of this episode here.
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This SIEWCast episode is brought to you by Singapore International Energy Week and Money FM 89.3, in partnership with ExxonMobil