Regional demand for affordable, large-scale, dispatchable renewable electricity
Electricity is a major input to the highly industrialised Singapore economy. Accessing low cost, reliable electricity over the medium to long term is critical to the country’s long term planning and economic competitiveness. Singapore is currently reliant upon gas for approximately 95% of it’s electricity generation.
In order to improve this, the Singapore Energy Market Authority’s “Four Switches” policy, announced by Minister for Trade & Industry Chan Chun Sing in 2019, aims to increase renewable electricity imports.
Affordable and large-scale renewable energy will support the transformation of the Northern Territory economy.
The NT Government recognises the potential of renewable energy in supporting local economic development and is undertaking the required steps to transition away from the current generation mix. The NT Government is currently progressing its Roadmap to Renewables policy, undertaking energy market reform and implementing all of the recommendations from the NT Economic Reconstruction Commission’s Report – all of which highlight the importance of renewable energy supply.