Clean energy investments to create 400 jobs, S$500m in business spending
SINGAPORE — Six new clean energy investments secured by the Economic Development Board (EDB) is expected to create some 400 professional jobs and S$500 million in cumulative business spending in the next five years.
SINGAPORE — Six new clean energy investments secured by the Economic Development Board (EDB) are expected to create some 400 professional jobs and S$500 million in cumulative business spending in the next five years.
These investments are in the fields of solar, wind, microgrids and energy management in Singapore, the board told the press on Tuesday (Oct 24).
Clean energy is gaining significant momentum as an economically viable energy source. As the global energy sector undergoes extensive transformation, Singapore wants to keep abreast with changes, to “partner companies to innovate and commercialise novel clean energy solutions, and to spearhead new business models”, the EDB said.
Among the latest group of investors is Chinese wind turbine maker and energy management group Envision Energy, which will be setting up its Global Digital Energy Hub here. This will comprise its Global Digital Research and Development Centre, and its Global Headquarters for Energy Internet of Things and Smart Cities. The firm intends to hire more than 200 professionals involved in big data and analytics, machine learning and artificial intelligence, among other things.
Likewise, technical and scientific association VDE, which is based in Germany, will be investing S$20 million to set up a major energy storage testing and certification lab in Singapore to serve the Asian region. This lab would provide “bankability and insurability services” for energy storage solutions at the system level, and plug a critical gap in the existing global energy landscape, the EDB said.
Other firms will be setting up their respective regional headquarters in Singapore for sales, operations, finance, and other management functions for Asia-Pacific.
Chinese lead-carbon energy storage system provider Narada will have its regional Energy Storage Solution Centre of Excellence here, and it seeks to work with Singapore-based companies on projects.
The EDB said that the new ventures are “part of a continued wave of clean energy investments” here, strengthening Singapore’s position as Asia’s leading clean technology hub.
Mr Goh Chee Kiong, executive director of Cleantech in EDB, said that the recent investments “augur well for Singapore’s role as the springboard for companies to serve the fast-growing markets in Asia”. “The Government will continue its commitment to invest in research and technology, train specialised talent, promote new financing and business models,” he added.