CEO Morning Brief

Singapore Seeks Bids for More Gas Power Plants to Meet Demand

edgeinvest
Publish date: Wed, 05 Jun 2024, 11:01 AM
TheEdge CEO Morning Brief

(June 4): Singapore is looking for companies to build two new power plants by 2030 to meet its growing energy needs.

The Energy Market Authority launched a request for proposals to build, own and operate two hydrogen-ready gas-fired power plants, with capacity of at least 600 megawatts each, that will be ready for operations in 2029 and 2030, it said in a statement. Separately, Singapore requested bids last year to build a power plant by 2028.

Demand for electricity in Singapore has been steadily increasing, driven by electricity-intensive sectors including advanced manufacturing and transport sectors, EMA said. Peak power demand is expected to grow by at least 3.7% over the next six years, and reach as much as 11.8 gigawatts by 2030.

“It is crucial that we ensure sufficient generation capacity to power our homes, workplaces and communities,” said Ngiam Shih Chun, chief executive of EMA.

Source: TheEdge - 5 Jun 2024

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