The Government of Singapore has announced an SGD100 million investment to promote green growth in the marine and offshore energy sectors over the next five years till 2030.
The fund supports initiatives in marine digitalisation, offshore wind, and floating storage. These efforts align with Singapore’s Green Plan 2050, aiming for net-zero emissions. The plan also focuses on advancing technologies like carbon capture, alternative fuels, and digital systems to meet decarbonisation goals. In parallel, Hann-Ocean Energy, a Singapore-based company, concluded trials for its Drakoo wave energy converter off Shengsi Island, Zhejiang Province.