Singapore Invests $680 Million For Solar Ecosystem
EDB initiative to drive research, test-bedding and commercialization.
The Singapore Economic Development Board (EDB) has set aside some S$680 million to build a solar energy ecosystem over the next 5 years.
About half – or S$350 million – of the fund will go towards developing the clean energy sector and the rest will go into developing water and waste management solutions.
The move seeks to make Singapore more conducive for innovations from research to test-bedding of products and commercialisation.
Goh Chee Kiong, Director, Cleantech EDB, said: “We are using this funding to build research capabilities, this includes building up R&D centres. One example is the solar energy research institute of Singapore or SERIS.
“Another use of the funding will be to develop manpower capabilities. Which is very important as a lot of companies are telling us there is a shortage of manpower in the industry and we hope that we can train this skilled manpower to provide a differentiation for Singapore.”
And companies like Suntech Power hopes to expand their operations in Singapore, citing the strong government support and the country as a technology centre.
The move, supported by the Building and Construction Authority (BCA) and funded by the National Research Foundation (NRF), aims at boosting research capabilities, including the development of more R&D centres.
This will make it more conducive for businesses in the sector to innovate, do research, test-bed products and commercialise them.
Existing businesses in the sector can also tap on the funds to expand their operations. Another use of the funds will be in growing manpower capabilities – of which there is a current dearth.
This announcement comes as experts forecast that clean energy investments in Asia could double this year to US$70 billion.
Topics: 2010, Asia, BCA, Building and Construction Authority, business, clean energy, clean energy economy, commercialization, conservation, economic development, economic growth, Economy, EDB, employment, energy, energy efficiency, environment, Goh Chee Kiong, Governance, government, Green Jobs, innovation, investment, moniter, monitor, National Research Foundation, news, NRF, Pacific, renewable energy, research, science, Singapore, Singapore Econmic Development Board, skills, society, solar ecosystem, solar power, technology, waste management, workforce
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