Singapore has announced its plans to spend SGD $100 million to accelerate the growth of marine and offshore energy over the next five years. The fund will focus on fostering partnerships and driving innovation in areas such as offshore wind, floating storage, marine digitalization and helping the nation achieve net-zero emissions by 2050 under the Singapore Green Plan.
Minister of State Alvin Tan announced the investment at Offshore Energy Week in Singapore on November 19 saying, “There is work still to be done; we must embrace the energy transition, collaborate, and learn from each other, because we all play a role in the low-carbon economy.”
As reported by Offshore Energy News, a Singapore-based company Hann-Ocean Energy concluded its wave energy generation project on Shengsi Island, Zhejiang Province, after two and a half years of sea trials. The project focused on testing the performance and stability of the Drakoo 15 kW wave energy converter (WEC) and evaluating various coating schemes for future durable technologies.
