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Business Times
2 days ago
- Business
- Business Times
Issue 155: Singapore's natural gas challenge; Temasek keeps bets on renewables
This week in ESG: Singapore approves carbon capture and storage studies; Temasek explains 'geopolitically resilient' thesis Energy transition Singapore's tough choices on natural gas As Singapore looks more seriously into carbon capture and storage (CCS), it needs to begin making some tough decisions about its power sector's heavy reliance on natural gas. Singapore's Energy Market Authority (EMA) is advancing CCS feasibility studies in the power sector, with co-funding approvals for five site-specific projects that will be undertaken by Keppel's infrastructure division, PacificLight Power and YTL PowerSeraya. All the plants involved in the studies use natural gas, which is primarily methane. CCS refers to solutions that extract carbon dioxide from emissions sources such as power plants or industrial facilities, then permanently store the captured carbon. Carbon capture is distinct from carbon removal, which refers to solutions that extract carbon that is already in the atmosphere. The feasibility studies will explore two different CCS approaches. The first is pre-combustion CCS, which extracts carbon from natural gas before combustion; the process leaves behind hydrogen, which is used to generate power. The second solution is post-combustion CCS, where an on-site unit captures carbon emissions after the natural gas is burned for power. A NEWSLETTER FOR YOU Friday, 12.30 pm ESG Insights An exclusive weekly report on the latest environmental, social and governance issues. Sign Up Sign Up The studies will help EMA to assess the feasibility of using CCS to decarbonise Singapore's power sector, and to identify infrastructure and site-specific requirements, the agency said. The need Singapore relies on natural gas for more than 90 per cent of its electricity generation. If Singapore is to meet its climate targets, it will need to address the emissions from its power sector. The most effective way to decarbonise the sector would be to replace natural gas with lower-carbon alternatives, but the fossil fuel is proving difficult to replace. The country's decarbonisation strategy for the power sector rests on four pillars: solar, regional power grids, emerging low-carbon alternatives and natural gas. While solar power is the most mature and economically feasible solution, it also requires a lot of land, which Singapore does not have. The country's 2030 target for 2 Gigawatt-peak (GW-peak) of solar capacity will be enough to meet only 3 per cent of total projected electricity demand that year. Electricity imports via regional power grids have seen considerable progress with conditional approvals for 10 projects granted so far. Six of those have progressed to conditional licences, but are still far from actual operations – the projects must still obtain relevant regulatory approvals in all relevant jurisdictions, achieve financial close, build, test and commission before commercial operations can begin. Singapore is aiming to secure 6 GW of electricity imports by 2035. The emerging low-carbon alternatives are, as the term suggests, still nascent, with considerable uncertainties about feasibility and long timelines if viable. These alternatives include CCS, as well as low-carbon hydrogen, nuclear and hydrothermal power. The reality is that many questions remain about how Singapore will be able to wean itself off natural gas. As EMA says on its website, 'natural gas remains a key fuel source' while Singapore scales up renewable energy deployment. An important natural gas strategy for Singapore is therefore improving the efficiency and reducing the emissions of natural gas electricity production. If CCS works well enough, it could extend the window for natural gas in Singapore's power supply mix. The risk CCS is no silver bullet. The technology faces considerable feasibility challenges. In terms of emissions reduction, CCS faces some inefficiencies that can be quite considerable. This is especially so for Singapore, which does not have any suitable domestic storage capacity and must therefore transport the captured carbon to wells in neighbouring countries. These circumstances raise the risk of leakage during transportation and storage. CCS solutions also require energy input. A grid that is predominantly reliant on natural gas reduces the net reduction of CCS. CCS is also costly. A study commissioned by the Singapore government and published in 2021 estimated that CCS for Singapore's energy and chemicals sectors would face a weighted average cost of US$85 per tonne of carbon dioxide. For natural gas power, the estimated CCS cost is US$100 per tonne. At that price, it's debatable whether power producers will voluntarily adopt CCS. For instance, Singapore's carbon tax is only S$25 per tonne of carbon dioxide at the moment. The rate will increase to S$45 per tonne in 2026 and 2027, with a policy target to reach S$50 to S$80 per tonne by 2030. From a business standpoint, a power plant operator would be better off paying the tax than investing in CCS. The decisions CCS can only be a stopgap for Singapore's power sector. It's expensive, and eventually there won't be enough room to store all of that carbon. There's no escaping the eventual need to shift away from natural gas towards lower-carbon alternatives if Singapore intends to hit its climate targets. The country has committed to achieving peak emissions and then reducing emissions to about 60 million tonnes of carbon dioxide equivalent (MtCO2e) by 2030. By 2035, Singapore aims to reduce emissions to between 45 and 50 MtCO2e. The goal for 2050 is net-zero emissions. However, while Singapore has articulated plans for increasing capacity for solar and electricity imports, it's less clear how the country plans to reduce its use of natural gas. If natural gas is intended to be a transition fuel for Singapore, that intention should ideally be supported by a transition plan. It's understandably challenging for the country to commit to winding down natural gas when it's still unclear which of the emerging low-carbon alternatives can replace it. Nevertheless, it's worth taking a harder look at the extent to which better guidance can be given about the transition strategy. For example, could Singapore commit to some limits on new natural gas power infrastructure? That visibility is important because the returns from infrastructure and research can take a long time to manifest. Is it worth building pipelines to transport captured carbon to sequestration wells in Malaysia? Should Singapore build new natural gas power plants? What's the best way to allocate Singapore's budget for decarbonising the power sector? Would Singapore have to revise its climate goals? There are no easy answers for Singapore on the natural gas problem. But it's also a good idea not to leave too many unanswered questions. Sustainable investing Temasek still hot on renewables Good news for renewable energy companies: Singapore government investment firm Temasek thinks renewable energy technologies remain good investments. Temasek's thesis is that there are compelling opportunities within the sector that are geopolitically resilient, at scale and with more predictable outcomes. For example, solar energy projects with energy storage are cheap, quickly deployable, inflation-protected and cashflow-generating, says Temasek chief sustainability officer Park Kyung-Ah. Furthermore, concerns about policy headwinds may have negatively affected valuations for some companies in the space. But where the concerns are short-term, a long-term investor like Temasek could see a buying opportunity. Temasek's rationale seems sound. Perhaps some solar panel makers may not be great investments amid a supply glut and rock-bottom prices, but they don't form the entire renewables supply chain. Cheap solar panels can be a boon for installers and project developers. Cheap solar cells are also fuelling a significant rise in solar power capacity, which leads to increased demand for firming infrastructure such as energy storage and smarter grids. The International Energy Agency estimates that between 2024 and 2030, solar power will account for 80 per cent of growth in global renewables capacity. As Park says, the economics behind these trends are compelling enough to provide some insulation from political volatility. But there are long-term risks in the sector as well. For instance, the solar supply chain has yet to fully confront end-of-life issues, especially with most installed capacity still relatively young. Without good solutions, demand for solar electricity could cool in the future when old, unusable panels pile up. That said, the wind sector has not fared as well as solar. Because of high upfront investment costs and long build times, the technology is more exposed to inflation and interest rates, both of which have not been favourable in recent years. Wind projects are also more susceptible to politics, as changes of control in government can lead to cancellations. Wind, which has dominated the renewables sector over the past two decades, is expected to cede the leading spot to solar before 2030. The lesson here is that the recent changes in policies and macroeconomic conditions have not hit the renewables sector uniformly. There are winners and losers, and taking the time to figure out who they are could be a profitable exercise. Other ESG reads
CTV News
2 days ago
- Science
- CTV News
University of Regina welcomes global carbon capture and storage event
The University of Regina hosted its 17th iteration of its Carbon Capture and Storage (CCS) Summer School. (Jacob Carr/CTV News). The International Carbon Capture and Storage Knowledge Centre, along with the University of Regina, are in the midst of hosting a weeklong program bringing together students and presenters from all around the world. Organizers of the event say that the presenters talk about current and future carbon capture technologies, economics, policies and regulations. On the student side, the event had over 200 applicants this year, of which, 50 were chosen to partake. 'We've got 50 students from 31 countries here,' explained Tim Dixon, director and general manager of the International Energy Agency Greenhouse Gas R&D Programme. 'They form teams, and they collaborate, and on the last day they have to present their results. It's actually a competition; we give an award for the best group presentation. As well as getting the knowledge on CCS for themselves, it also forms their professional peer groups that will go with them for the rest of their careers.' 2025 marks the 17th iteration of the CCS Summer School, which after the completion of this week, will have over 800 alumni.
Time of India
3 days ago
- Business
- Time of India
Hyderabad GST scam busted: Rs 6.25 crore ITC fraud via fake toy firm; FIR filed
Representative Image HYDERABAD: Commercial tax department has uncovered a goods and services tax (GST) racket by a city-based proprietor through a fictitious toy-trading firm, illegally pocketing and passing on input tax credit (ITC) worth over 6 crore. A complaint filed by assistant commissioner (State Tax) G Narender Reddy on Monday stated M/s Bala Corporation, headed by N Vinod Kumar, obtained GST registration in Feb 2025 by uploading a forged electricity bill as proof of premises. The declared address at Cristal Complex in Hill Fort Street, Adarsh Nagar was found non-existent during a panchanama inspection of the department in May 2025. Although the firm had declared toys and video-game consoles as its business, e-way bill analytics of the company showed that in March and April 2025 it generated 1,268 outward consignments for portland cement, copper pipes, plywood, iron rods, and other construction materials. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad "No corresponding inward bills were filed. During the two months, Bala Corporation used bogus documents to avail ITC of 6.25 crore under IGST and pass on 3.12 crore each in SGST and CGST to 32 other entities, despite zero reflection of the same in the auto-drafted ITC statement (GSTR-2B)," the complaint stated. The registration of the company was cancelled on May 9, 2025, with retrospective effect from Feb 25, 2025, but by then the exchequer had suffered a loss of 6.25 crore. The commercial tax department has notified concerned jurisdictional tax officers about the illegally availed ITC benefit, seeking immediate recovery. CCS police have registered a case against Bala Corporation and N Vinod Kumar. Evidence was being analysed to initiate legal action against the accused, an official said.
Time of India
3 days ago
- Business
- Time of India
Case against ex-IAS officer Rajinder Pal Singh for hiding land title defects
Representative image HYDERABAD: A criminal case has been filed against former IAS officer Rajinder Pal Singh and two of his family members in relation to the 2,000 crore real estate project developed on their land in Khajaguda. They were accused of allegedly concealing title defects and stalling the construction of a 30-storey commercial tower on property. Based on the complaint of B Chakradhari, 50, a resident of Adarsh Nagar, on June 21, Central Crime Station (CCS) police registered a case against Rajinder Pal Singh, his wife Harvinder Kaur, and their daughter Mohini Chawla under Sections 318(4) (cheating) read with 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS). The complainant purchased office space in the upcoming 'SAS I-Tower' project at Survey No. 19 in Khajaguda village. In his complaint, Chakradhari alleged that the landowners had assured the developer, SAS I-Tower, of a clear and marketable title over 10.32 acres and executed a development agreement-cum-general power of attorney (DAGPA) on Aug 16, 2018. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad "Believing the assurances, the developer raised money by pre-selling units to dozens of buyers, who together invested hundreds of crores," the complaint alleged. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: One simple trick to get internet without a subscription Techno Mag Learn More Undo Construction progressed to roughly 85% before work abruptly stopped by the end of 2024. Subsequent inquiries revealed that Harvinder Kaur had gifted 3.24 acres, about a third of the project land, to another daughter, Chetna Kaur, in 2001. Although Chetna executed a special power of attorney in 2017 authorising her mother to manage 3,500 sq yds, Harvinder allegedly cancelled the 2001 gift deed on March 13, 2017 without her daughter's consent and without disclosing the matter to the developer or buyers. Neither the 2018 DAGPA nor subsequent sale deeds reflected the earlier gift or the unilateral cancellation, constituting deliberate suppression of material facts, the complainant claimed. The title dispute came to light in March 2025 when a public sector bank refused to release a loan of 255 crore to the developer, citing the unresolved share of Chetna Kaur. Without bank funding, SAS I-Tower halted works, leaving investors stranded and prompting Chakradhari, who is president of SAS I Tower Investors' Association, to approach police. On Wednesday, police summoned RP Singh to CCS to question him about the case. "He was examined about the allegations. After recording his version and collecting relevant evidence, he was let off," deputy commissioner of police (DCP) N Swetha said.
Auto Express
4 days ago
- Automotive
- Auto Express
All electric car drivers should start using Tesla Superchargers
This is a bit of a public service announcement (or ruining a well kept secret for those in the know). EV drivers: Use Tesla chargers! And not just Tesla owners, but anyone needing to top up on the go. More than half of Tesla Superchargers, including all the latest V4 units, are open to any electric car with a CCS connection – which is most of them. You can find them via Zap-Maps or Tesla's own site, but it's clear that this is still not common knowledge. With concerns over the availability of public chargers such a huge issue for plenty of buyers considering converting to EVs, this could be a massive help that many people aren't aware of. The newest V4 units are even contactless, so you don't need an app to sort payment, unlike earlier V3 chargers. Advertisement - Article continues below And here's even more public service information...! We've previously been scathing about how prohibitively costly public charging is, and how too many chargers don't have any pricing transparency. If you can top up at home for the vast majority of miles, then the numbers really stack up for an electric vehicle. However, if public charging is a regular fallback, then the cost is a lot less favourable versus petrol or diesel. Skip advert Advertisement - Article continues below Predictably, and probably fair enough, Tesla charges owners of other brands' cars more than it does its own army of loyal drivers, but the units, generally 250kW ones – so, super-fast – are significantly below the apparent current norm of 85p-plus per kWh you find at most service stations or highway chargers. Admittedly, with Tesla you do have to watch out for steep overstay charges designed to make sure you vacate the spot as soon as the car hits the required level. Don't dwell too long over that coffee or comfort break, then. I genuinely don't want to sound like a walking Tesla advert – the company's cars are generally great, but then so are a lot of other EVs, and those models don't come with any baggage around the firm's figurehead, if that sort of thing bothers you. But making life easier for the growing number of electric vehicle drivers is really important, and hopefully this column will act as a sneaky hack to help Auto Express readers get ahead in any public charging chaos during the summer getaway! Did you know you can sell your car through Auto Express ? We'll help you get a great price and find a great deal on a new car, too . Find a car with the experts New Xiaomi YU7 2025 review: a world-beating new EV to worry the establishment New Xiaomi YU7 2025 review: a world-beating new EV to worry the establishment BMW or Mercedes would do anything to keep the new Xiaomi YU7 from sale in the UK and Europe, and this is why The Electric Car Grant is here: Government's new £3,750 EV discount in detail The Electric Car Grant is here: Government's new £3,750 EV discount in detail The government has set out its plan to help reduce the cost of affordable EVs by introducing a new £3,750 Electric Car Grant for new EVs sold under £3… New MG IM5 has the Tesla Model 3 beaten on price and range New MG IM5 has the Tesla Model 3 beaten on price and range The all-electric IM5 brings new technology and design to the MG line-up
