SINGAPORE (Oct 26): Singapore will import more electricity from the region, and is on track to reach its import target of up to four gigawatts of electricity by 2035, a minister said on Wednesday (Oct 26).

The city state's Energy Market Authority (EMA) has launched requests for proposals for electricity import projects from the region, Tan See Leng, the city state's manpower minister and second minister for trade and industry, said at the Singapore International Energy Week conference.

The EMA has since received more than 20 proposals from Australia, Indonesia, Laos, Malaysia and Thailand, Tan said.

About 95% of Singapore's electricity is generated from natural gas, though the country plans to ramp up sources of renewable energy.

As Singapore transitions towards greater sustainability, there will be new growth opportunities in the areas of solar, energy storage systems (ESS) and smart grids, Tan said.

"These opportunities include conventional and non-conventional solar deployment, such as floating and building-integrated photovoltaics, battery ESS engineering, procurement and construction and project management services."

During the energy summit, Singapore and Cambodia signed a memorandum of understanding to deepen energy cooperation.

"Such partnerships will help to facilitate key areas of cooperation, such as the development and financing of renewable energy projects, development of regional power grids, and cross-border grid interconnections for electricity between both countries," Tan said.

Singapore this year signed similar agreements with Australia, Vietnam, Laos and Brunei.