SINGAPORE: Singapore is set to fall short of its 2035 target of importing 6 gigawatts of low-carbon electricity, a report from research and consultancy firm Wood Mackenzie said on Wednesday.
The country has approved 9.25 GW of import capacity across six corridors, but none of the projects has reached financial close or begun construction, the report added.
Here are the key points from the report:
Singapore generates up to 95 per cent of its electricity from natural gas. By 2035, imported green power is likely to be at 15 per cent of its power generation mix, roughly half of EMA's target of about one-third of projected demand at 6 GW.
Key obstacles include export permit regimes, project bankability, cross-border transmission financing and the lack of a mechanism for buyers to claim the carbon value of imported power.
