SINGAPORE: A total of S$23 million in grants has been awarded by the Energy Market Authority (EMA) to three power generation companies for energy efficiency projects that will reduce their carbon emissions, said the authority on Tuesday (Oct 27).
The three companies are Senoko Energy, Tuas Power Generation as well as YTL PowerSeraya.
AdvertisementAdvertisementThese grants are part of the Genco Energy Efficiency Grant Call - under the enhanced Industry Energy Efficiency Package - that will co-fund up to 50 per cent of energy efficiency projects by power generation companies.
The grants awarded correspond to the carbon abatement achieved through the projects, subject to a cap of up to 50 per cent of the project’s qualifying costs.
[h=3]READ: Singapore rolls out initiatives to help companies reduce carbon emissions, increase energy efficiency[/h]The projects will be implemented between now and 2024, said EMA in a press release.
AdvertisementAdvertisementWhen completed, the projects are expected to achieve an annual carbon abatement of over 30 kilo tonnes per annum. This is equivalent to taking about 9,200 cars off the roads annually.
"Lowering our carbon emissions by promoting greater energy efficiency within our power generation sector is critical in our fight against climate change," said EMA chief executive Ngiam Shih Chun.
"We are heartened by the power generation companies’ efforts to be more energy efficient and will continue working with them towards a more sustainable energy future."
EMA will launch the second run of Genco Energy Efficiency Grant Call in January 2021, in order to continue their support of power generation companies in "improving their energy efficiency and lowering their carbon emissions", it said.
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