Singapore Seeks Proposals For A New Power Plant To Strengthen Energy Security
Singapore’s Energy Market Authority (EMA) is inviting proposals for a 600-megawatt gas-fired power plant, aiming to enhance the country’s energy security amid growing demand. Expected to be operational by 2028, the project also calls for the incorporation of hydrogen and low-carbon solutions for an eco-friendly power system. This initiative comes as Singapore’s power consumption hit record levels in May, which led to surges in spot electricity rates. EMA CEO Ngiam Shih Chun underscored the importance of such measures to meet future energy needs. Furthermore, EMA will introduce a revised regulatory framework requiring electricity retailers to have a tangible net worth of at least S$1 million ($752,000) at the time of application or renewal of licence.
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