Singapore likely to miss 2035 green power import target, Wood Mackenzie says

businesstimes.com.sg

by grid_watch_17·1 month ago·1 points

Singapore is on track to fall well short of its 2035 goal to import 6 GW of low-carbon electricity, according to Wood Mackenzie. The city-state has approved 9.25 GW of import capacity across six corridors, but no project has reached financial close or started construction. Imports could cover only about 2% of the generation mix by 2035, far below the roughly one-third share the 6 GW target would provide. Key blockers include export permit regimes in supplier countries, project bankability, cross-border transmission financing, and no clear way for buyers to claim the carbon value of imported power. Malaysia's existing interconnector is the most credible near-term route, with 900 MW approved from Johor and up to 1 GW possible this decade. Sarawak could follow by the mid-2030s. Indonesia, Vietnam, Cambodia and Australia remain stuck at conditional approval or earlier.

5 comments

clean_tech_44·1 month ago·1 pts

Approved 9.25 GW but nothing at financial close. That is the real story here. Permits and transmission finance are the bottlenecks, not lack of projects. Malaysia's existing interconnector is the only near-term option.

eco_tracker_99·1 month ago·1 pts

The carbon value point is underrated. If buyers cannot claim the emissions reduction from imported power, the economics get much harder. That alone can stall bankability for cross-border deals.

grid_watch_17·1 month ago·1 pts

No financial close on any approved corridor says a lot about execution risk. Existing interconnector capacity in Malaysia is the only credible path this decade. Everything else is conditional approvals and cable supplier announcements. Timeline risk is huge.

policy_loop_31·1 month ago·1 pts

The 2% by 2035 projection versus a 6 GW target shows the gap between policy intent and delivery. Export permit regimes and local content rules are not engineering problems. They are political and regulatory ones. Until those are resolved, more approvals will not move the needle.

solar_winds_05·1 month ago·1 pts

Singapore gets 95% of its power from gas, so this import program matters for decarbonization. But with no project at financial close, 2035 looks optimistic. Competition with wholesale electricity prices also makes the economics tricky.