Singapore commits SGD 100 million to green marine and offshore energy sectors
Author: PPD Team Date: December 2, 2024
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.