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Seneca ESG
- July 6, 2022
Singapore’s Energy Market Authority (EMA) issued the second Request for Proposal (RFP2) on July 1, calling for proposals to export electricity to Singapore from renewable energy sources, as reported by Strait Times on the same day. Under RFP2, interested participants could submit non-binding proposals to the EMA any time before December 29, 2023. The EMA demands potential importers to demonstrate their supply reliability, credibility, track record, cost-competitiveness, and ability to supply and manage the carbon output of their power generation supply. The EMA will not accept proposals for electricity supplied using coal-fired generation technologies.
Singapore sees renewable energy imports through regional power grids as a crucial way toward the decarbonization of its power sector by 2050. The EMA plans to import up to four gigawatts (GW) of electricity generated from renewable energy by 2035, which will account for 30% of the nation’s power supply then. Before the RFP2, the EMA issued the first Request for Proposal (RFP1) in November 2021 to import around 1.2 GW of electricity from 2027 onwards. As of the bid deadline of June 2022, the RFP1 had received 20 proposals to supply electricity from sources including solar, wind, hydro, and geothermal power from four countries: Indonesia, Laos, Malaysia, and Thailand. On June 23, Singapore rolled out its first renewable energy import project under the RFP1, to transport up to 100 megawatts (MW) of renewable energy from Laos via Thailand and Malaysia, equivalent to around 1.5% of Singapore’s peak electricity demand in 2020.
Sources:
https://www.ema.gov.sg/media_release.aspx?news_sid=20220701iM1feIkN4FFe
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