Singapore to establish an initial S$ 5 Billion fund to spur massive transition into Cleaner Energy

[escveritas]

Singapore Deputy Prime Minister announced the injection of S$ 5 Billion into a fund called Future Energy Fund, to help spurring massive transition of the city state into Cleaner Fuels.

The initial S$ 5 Billion capital injection will be invested in energy transition infrastructure.

Singapore Deputy Prime Minister Lawrence Wong during the Annual Parliamentary Session said that the country need to address an emerging security challenge which is the energy, and more specifically the transition to cleaner energy.

He also noted that the scale of this transition will be massive, and needs to get done within the next 2 decades, and that with the current viable options on the table today, in order to achieve the Net Zero, the country will have to look deeper into Hydrogen or submarine cables for importation of cleaner electricity.