Renewable Energy in Singapore

Regional project opportunities

According to McKinsey, Southeast Asia's annual renewable capacity addition for solar must increase by a factor of seven to 12 times to achieve the region's net-zero goals.

This growth represents an extraordinary opportunity for project developers, with Singapore as the ideal base to access these markets.

Government-backed solar initiatives

Our SolarNova programme, led by EDB and HDB, has successfully accelerated solar adoption by aggregating demand across government agencies.

Singapore is home to projects such as the 60 MWp floating solar farm at Tengeh Reservoir and the 141 MWp floating solar farm at Kranji Reservoir which began construction in 2025.

Testbed for emerging technologies

With access to shared infrastructure and national pilot programmes, Singapore provides the ideal environment for companies to test and scale next-generation solar technologies, including building-integrated photovoltaics (BIPV) and hybrid PV-thermal systems.

Singapore as a strategic gateway

Southeast Asia's rapid expansion of wind energy development presents significant investment opportunities. McKinsey projects that scaling of wind capacity is needed to meet net-zero targets, creating opportunities for investors and developers.

Leveraging our strategic location for direct access to these emerging markets, Singapore has facilitated key partnerships through MoUs with countries like Vietnam and Indonesia.

One example is Sembcorp's collaboration with PetroVietnam on offshore wind projects.

Green energy import hub

With a target to import six GW of low-carbon electricity by 2035 – a 50 per cent increase from the four GW target – Singapore offers potential offtakes for clean energy, creating a clear market for regional wind projects.

Technical and logistics support

Singapore offers a deep network of port infrastructure, engineering expertise, and regulatory support, enabling efficient project development and operation in offshore wind.

World-class green finance hub

As a leading global centre for green finance in the region, we are also ASEAN’s largest sustainable finance market, accounting for close to 50 per cent of all its green and sustainability-linked bond and loan issuances.

Blended finance initiatives

The Financing Asia’s Transition Partnership (FAST-P) aims to mobilise US$5 billion of capital, connecting concessional and commercial providers to de-risk renewable energy projects.

Innovation capital and accelerators

Companies gain access to thematic accelerators and innovation funds, such as the Temasek Liveability Challenge and private equity platforms focused on clean energy scale-ups in Southeast Asia.