The Government of Singapore has announced an SGD 100 million investment to promote green growth in the marine and offshore energy sectors over the next five years, aiming for net-zero emissions by 2050.
This initiative focuses on marine digitalization, offshore wind, and floating storage solutions, aligning with Singapore’s Green Plan 2050.
In a related development, Singapore-based Hann-Ocean Energy completed a two-and-a-half-year sea trial of its third-generation Drakoo wave energy converter off Shengsi Island, Zhejiang Province, in July 2024.
The 15 kW device demonstrated reliability and higher energy conversion efficiency in open sea conditions, marking a significant step toward commercializing wave energy technology.