Straits Times reported that importing electricity generated by various renewable sources across South-east Asia is one way for nations in the region to meet their climate change targets in an affordable way, a new report by the International Energy Agency (IEA) has found. The Republic had earlier announced plans to import 30 per cent of its energy needs - or 4 gigawatts of electricity - by 2035. One way of doing so could be through ASEAN's regional power grid. Such power grids allow countries that may have a surplus of electricity from renewable sources like hydropower to trade with countries that lack these resources. Speaking to The Straits Times on Wednesday, IEA's chief energy economist Tim Gould said having an integrated power system across countries helps to bring down the costs of transitioning to a greener energy sector.
"For a country like Singapore, being able to access energy supplies from low-carbon sources from its neighbouring countries through a regionally interconnected grid is very, very important, given the constraints on land that Singapore faces," he added. As each country has its own advantages in different renewable technologies - some in hydropower, geothermal, and others in wind, for instance - having a diverse mix of resources could help to reduce variability in factors such as weather conditions, said Mr Gould. IEA's report, Southeast Asia Energy Outlook 2022, also pointed out that institutional and contractual structures will also need to be adapted to facilitate multilateral cross-border power trade. The Energy Market Authority on Wednesday also unveiled "A Resilient and Sustainable Energy Future" as the theme for the SIEW conference, which will take place from Oct 25 to 28. It said in a statement that the theme reflects how the global energy community has accelerated the pursuit of a greener future.
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May 30, 2022
