Opening Remarks for the Asia Clean Energy Summit (ACES) Opening Ceremony by SMS Koh Poh Koon

​OPENING REMARKS FOR THE ASIA CLEAN ENERGY SUMMIT (ACES) OPENING CEREMONY BY DR KOH POH KOON, SENIOR MINISTER OF STATE FOR TRADE AND INDUSTRY, AT THE SINGAPORE INTERNATIONAL ENERGY WEEK 2017, ON TUESDAY, 24 OCTOBER 2017, 9.10AM, SANDS EXPO & CONVENTION CENTRE, MARINA BAY SANDS

Mr Edwin Khew, Chairman, Sustainable Energy Association of Singapore

Distinguished Guests

Ladies and Gentlemen

Introduction

1.            A very good morning.  It gives me great pleasure to join you this morning for the opening of the Asia Clean Energy Summit (ACES) 2017, a key partner event of the Singapore International Energy Week.  Now in its fourth year, I am pleased to see the continued growth of ACES, which has been attracting strong interest from global business leaders, policy makers, financiers and researchers.

Global Transformation of the Energy Sector

2.            Globally, the energy sector is undergoing extensive transformation, propelled by the rise of renewable energy. Since 2009, businesses and governments have been investing approximately S$400 billion each year in the development and adoption of Clean Energy technologies[1]. This has enabled a sharp decrease in the levelised cost of electricity (LCOE) for both solar and wind energy. In many parts of the world, renewables are now increasingly competitive compared to conventional energy.  Subsidies for renewable energy are thus steadily being reduced or even eliminated entirely in some cases, especially in the more developed renewable energy markets.[2]

3.            This global energy transition is further driven by the increasing maturity of microgrids, energy storage and digital technologies. Such innovations increase the reliability and resiliency of power grids, even with high penetrations of renewable energy. Individual consumers will also be better empowered to make choices on their own energy use.

Singapore as the leading Cleantech Hub in Asia  

4.            As the leading Cleantech Hub in Asia, Singapore aims to play a meaningful role in this energy transition. Singapore invests significantly in research & development, engineering and project development capabilities, and serves as a springboard for companies into the region. 

5.            In 2014, the Economic Development Board (EDB) launched the SolarNova programme which aggregates the public sector demand for rooftop solar. Since then, the government has embarked on several new initiatives to drive the adoption of “urban solar”.

6.            For instance, the multi-agency effort to experiment with floating solar panels at Tengeh Reservoir has been a success. The panels outperformed comparable panels mounted on rooftops due to the cooling effect. Preliminary results also show no significant impact to wildlife or water quality at the reservoir. Singapore is now conducting engineering and environmental studies into the deployment of floating solar systems at a few reservoirs. 

7.            To further address the challenge of limited space for solar deployment in Singapore, we are also actively studying the feasibility of building-integrated photovoltaics or BIPV. In addition, JTC Corporation, Singapore’s government agency for the development of industrial land and space, recently launched a pilot programme, known as SolarLand, which aims to use vacant land to install solar panels on an interim basis.

8.            Through such efforts, the government plans to raise our solar power capacity beyond 2020 to one gigawatt peak, from around 140 megawatt peak today. These opportunities will attract local and foreign companies to develop and scale up new clean energy solutions in Singapore, thereby creating a projected 2,000 new skilled jobs by 2025.

9.            I am pleased to announce that EDB has recently secured six new investments in clean energy across the fields of solar, smart grids, microgrids, energy storage and digital technologies in Singapore.  These six projects will collectively create about 400 professional jobs and S$500 million in cumulative business spending, over the next five years.  Allow me to highlight three of these new investments.

              i.         Envision, a world leader in energy management solutions, will set up its Global Digital Research & Development Centre, and global headquarters for Internet of Things & Smart Cities in Singapore.

            ii.         GCL has established its global headquarters in Singapore to serve as the manufacturing control tower for the region, and drive the company’s expansion in solar system integration outside China.

          iii.         Jiangsu Linyang (江苏林洋), a smart meter and solar manufacturing company, has set up its regional headquarters in Singapore to undertake sales, Research & Development, and project development.

Targeting Asia Pacific’s microgrids market through REIDS

10.       Another good example of Singapore’s ability to serve as a testbed for the development of commercially viable clean energy solutions for the region is the Renewable Energy Integration Demonstrator Singapore, or REIDS in short.  This initiative at Pulau Semakau is a key enabler to help Singapore develop a global leadership position in microgrids.

11.       I am happy to announce that the first research & development microgrid led by REIDS founding members ENGIE and Schneider Electric, will be launched today. The companies are developing multi-energy microgrid systems comprising a mix of renewables, batteries and hydrogen. In addition, I am pleased to highlight that REIDS will have three new investors, namely Emerson, EDF and IDSUD, who will partner Nanyang Technological University to develop three additional research & development microgrids on REIDS. REIDS is also signing agreements with solutions adopters from the region today. This rich ecosystem of solutions providers and adopters co-innovating with each other through REIDS augurs well for Singapore’s intent to develop microgrid solutions that can be adopted in Southeast Asia and beyond.

Developing Energy Storage technologies in Singapore

12.       Energy storage represents another focus area for Singapore. Due to the rapid cost reduction of batteries, energy storage has the potential to be a game-changer.  In particular, advances in energy storage can help to better integrate intermittent generation sources such as solar energy into the grid, and drive the proliferation of electric vehicle adoption.  

13.       Today, I am delighted to share with you two companies, which will invest in energy storage capabilities in Singapore: 

              i.         VDE Renewables, a leading quality assurance provider headquartered in Germany, is investing S$20 million to set up a major Energy Storage Testing and Certification Lab in Singapore as part of its Global Energy Storage Competence Cluster.

            ii.         Narada, a leading lead-carbon energy storage system provider from China, will set up a regional Energy Storage Solution Centre of Excellence (CoE) in Singapore.

Conclusion

14.       The investments from diverse companies in the clean energy space are testimony to the fact that Singapore remains a choice location for companies to innovate and commercialise technologies. We welcome companies from around the world to work together with us to be at the forefront of energy transformation and develop solutions for the fast-growing region.

15.       In closing, I would like to extend my appreciation to SEAS for organising ACES 2017.  I hope all of you will benefit from the learning and networking opportunities at ACES.  On this note, I wish SEAS every success as they continue to bring ACES to greater heights in the years to come. 

16.       Thank you.

[1] Bloomberg New Energy Finance, Clean Energy Investment End of Year 2016.  Converted from figure of USD 300 billion using Oanda.com.

[2] Renewables 2016, Global Status Report, Renewable Energy Policy Network for the 21st Century (REN21).

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