Singapore energy players and MNCs join forces to advance green energy

Singapore’s energy sector and multinational corporations have forged partnerships aimed at bolstering their green initiatives. These initiatives encompass various aspects of green energy, including the utilisation of ammonia as a fuel source, the implementation of solar photovoltaic (PV) systems, and the procurement of renewable energy sources.

These collaborative agreements were publicly disclosed during the Singapore International Energy Week event.

Sembcorp Industries, IHI Corporation and GE Vernova’s gas-power business are exploring the retrofitting of Sembcorp’s Sakra power plant on Jurong Island with ammonia-firing capabilities.

All three have inked a non-binding memorandum of understanding (MOU).

The project could pave the way for Sembcorp to generate low-carbon electricity from its existing power plant assets. It does not expect the deal to have a material impact on its earnings per share and net tangible assets per share for the financial year ending Dec 31.

Huaneng Power International’s subsidiary Tuas Power inked an MOU with Marubeni Global Indonesia. Tuas Power will offtake the renewable power generated from a proposed solar farm developed by Marubeni Global Indonesia in Batam.

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