Latest news with #SingaRenewables
Business Times
3 days ago
- Business
- Business Times
EMA grants conditional licence to RGE, TotalEnergies' Indonesian solar project to import electricity to Singapore
[SINGAPORE] The Energy Market Authority (EMA) on Friday (May 30) granted a conditional licence to Singa Renewables, a joint venture (JV) between RGE and TotalEnergies, to import 1 gigawatt (GW) of low-carbon electricity from Indonesia to Singapore. This is the sixth electricity import project to be awarded a conditional licence, after EMA in September 2024 raised the low-carbon electricity import target to around 6 GW by 2035, up from the initial target of 4 GW announced in 2021. This is a part of Singapore's strategy to decarbonise the power sector, which currently accounts for about 40 per cent of the country's carbon emissions. Faith Gan, director of energy connections office at EMA, told The Business Times that the government would be open to more electricity imports beyond 6 GW as Singapore's energy demand grows beyond 2035. Presenting the conditional licence to the JV, EMA chief executive Puah Kok Keong said: 'This licence marks another step forward in our efforts to transform the power sector and deepen regional energy cooperation.' While electricity import projects help diversify Singapore's energy supply and reduce carbon emissions, they also bring in investment, create jobs and contribute to the growth of the clean energy sector in partner countries such as Indonesia, he added. Eric Lombard, France's minister of the economy, finance and industry, attended the presentation. This was in conjunction with French President Emmanuel Macron's state visit to Singapore. Dr Tan See Leng, minister-in-charge of energy and science and technology, was also present. 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 Imelda Tanoto, managing director at RGE, said that the conditional licence was a key milestone, affirming its role in advancing the region's decarbonisation goals. Current status of electricity import EMA's Gan noted: 'To date, EMA has granted 3 GW of conditional licences for electricity imports from Indonesia, as well as 4.35 GW of conditional approvals for electricity imports comprising 0.4 GW from Indonesia, 1 GW from Cambodia, 1.2 GW from Vietnam and 1.75 GW from Australia.' She highlighted different operational timelines for the projects. Gan noted that not all projects awarded conditional approvals or conditional licences will be implemented, as the importers make business decisions on whether to proceed with their plans after more detailed analysis. On Friday, Singa Renewables also inked a memorandum of understanding with Singapore Energy Interconnections – a newly incorporated company appointed by the Singapore government – to jointly develop a subsea interconnector to enable electricity imports from Indonesia to Singapore, a step to enhance regional power connectivity. Singa Renewables, which aims to achieve commercial operations from 2029, received conditional approval from EMA in September 2024. 'Since then, the project has made substantive progress, with marine surveys and feasibility studies completed. These are key milestones in demonstrating the project's technical and commercial viability,' according to EMA's release. The conditional licence was granted to Singa Renewables after Singapore-headquartered RGE and France's TotalEnergies on Wednesday signed a co-investment agreement for a solar photovoltaic plant with integrated battery energy storage under Singa Renewables. When the obligations in the conditional licences are fulfilled – which includes securing all necessary financing – EMA may subsequently issue the companies an electricity importer licence to commence construction and commercial operations.
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Singapore clears 1GW of solar imports from Indonesia
The move is part of efforts to shore up energy security via cross-border links. (Bernama pic) SINGAPORE : Singapore took a step toward importing up to 1 gigawatt of solar power from Indonesia, part of the tiny city-state's efforts to shore up energy security via cross-border links. The country's Energy Market Authority granted a conditional license to Indonesia's Singa Renewables Pte Ltd. – a joint venture between France's TotalEnergies SE and Royal Golden Eagle Pte. Ltd., according to a statement. It will also partner with Singapore Energy Interconnections Pte. Ltd. to explore building a subsea power cable between the neighbours, the statement said, without providing an investment amount or timeframe for the project. It's the latest of several planned connections in Southeast Asia aimed at carrying low-carbon energy across borders. Singapore, which depends on imported liquefied natural gas for most of its electricity, has signed deals worth billions with countries as far away as Australia to bring in up to 6 gigawatts of clean power by 2035. The country has approved 3.4 gigawatts of mostly solar energy imports from Indonesia. Earlier this week, it said it's exploring bringing in wind power from Vietnam. In February, it inked a hydropower deal with Malaysia. The subsea cable project 'strengthens its partnership with Indonesia in contributing to the Asean power grid which aims to integrate the power systems of member states in the region,' the companies said, referring to the Association of Southeast Asian Nations, of which both countries are members. The announcement came as Singapore and France signed a wide-ranging deal during President Emmanuel Macron's visit to the city-state to enhance cooperation in clean energy, defence and cyberspace.
Reuters
3 days ago
- Business
- Reuters
Singapore taps TotalEnergies-RGE JV for subsea link to import clean power from Indonesia
SINGAPORE, May 30 (Reuters) - A Singapore government-appointed company will develop a subsea interconnector with Singa Renewables, a joint venture between Royal Golden Eagle (RGE) and France's TotalEnergies ( opens new tab for low-carbon electricity imports from Indonesia. Singapore Energy Interconnections (SGEI), a company appointed by the Singapore government to oversee the development of interconnections to enable electricity imports into Singapore, said on Friday that it had inked a memorandum of understanding with Singa Renewables for the project. However, the companies did not give any financial details or say when the project would be completed in the statement. The companies said that the project supports Singapore's target of importing up to six gigawatts of low-carbon electricity by 2035 and strengthens its partnership with Indonesia in contributing to realising the vision of the ASEAN Power Grid. In a separate statement, Singa Renewables said it has been granted conditional licence from Singapore's Energy Market Authority to import up to one gigawatt of solar photovoltaic energy from Indonesia to Singapore. Earlier this week, Singapore-headquartered bio-based resources and energy group RGE and TotalEnergies announced that Singa Renewables would develop a utility-scale solar and battery project in Indonesia's Riau Province.
Bloomberg
3 days ago
- Business
- Bloomberg
Singapore Clears 1GW of Solar Imports from Indonesia
Singapore took a step toward importing up to 1 gigawatt of solar power from Indonesia, part of the tiny city-state's efforts to shore up energy security via cross-border links. The country's Energy Market Authority granted conditional license to Indonesia's Singa Renewables Pte Ltd. — a joint venture between France's TotalEnergies SE and Royal Golden Eagle Pte. Ltd., according to a statement. It will also partner with Singapore Energy Interconnections Pte. Ltd. to explore building a subsea power cable between the neighbors, the statement said, without providing an investment amount or timeframe for the project.
Business Times
3 days ago
- Business
- Business Times
EMA grants conditional licence to RGE, TotalEnergies' Indonesian solar project for electricity import to Singapore
[SINGAPORE] The Energy Market Authority (EMA) on Friday (May 30) granted a conditional licence to Singa Renewables, a joint venture between RGE and TotalEnergies, to import 1 gigawatt (GW) of low-carbon electricity from Indonesia to Singapore. EMA chief executive Puah Kok Keong presented the licence to the joint venture. Eric Lombard, France's minister of the economy, finance and industry, attended the presentation. This was in conjunction with France President Emmanuel Macron's state visit to Singapore. Dr Tan See Leng, minister-in-charge of energy and science and technology, was also present. Imelda Tanoto, managing director at RGE, said the conditional licence was a key milestone, affirming its role in advancing the region's decarbonisation goals. This is the sixth electricity import project to be awarded a conditional licence, after EMA in September 2024 raised the low-carbon electricity import target to around 6 GW by 2035, up from the initial target of 4 GW announced in 2021. This is a part of Singapore's strategy to decarbonise the power sector. When the obligations in the conditional licences are fulfilled – which includes securing all necessary financing – EMA may subsequently issue the companies an electricity importer licence to commence construction and commercial operations. 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 Singa Renewables, which aims to achieve commercial operations from 2029 onwards, received conditional approval from EMA in September 2024. Faith Gan, director of energy connections office at EMA, told The Business Times that the government would be open to more electricity imports beyond 6 GW as Singapore's energy demand grows beyond 2035. 'To date, EMA has granted 3 GW of conditional licences for electricity imports from Indonesia, as well as 4.35 GW of conditional approvals for electricity imports comprising 0.4 GW from Indonesia, 1 GW from Cambodia, 1.2 GW from Vietnam and 1.75 GW from Australia,' she added, highlighting different operational timelines for the projects. Gan noted that not all projects awarded conditional approvals or conditional licences will be implemented, as the importers make business decisions on whether to proceed with their plans, after more detailed analysis. EMA's Puah said: 'This (conditional) licence marks another step forward in our efforts to transform the power sector and deepen regional energy cooperation.' While electricity import projects help diversify Singapore's energy supply and reduce carbon emissions, they also bring in investment, create jobs and contribute to the growth of the clean energy sector in partner countries such as Indonesia, he added. Singapore-headquartered RGE and France's TotalEnergies on Wednesday also signed a co-investment agreement for a solar photovoltaic plant with integrated battery energy storage under Singa Renewables.
