SINGAPORE Trends and Developments Contributed by: Priyank Srivastava, Shelton M. Vaughan, Ramiro Rodriguez and Colette Tan, Duane Morris & Selvam LLP
Duane Morris & Selvam LLP 16 Collyer Quay #17-00 Singapore 049318 Tel: +65 6311 0074 Email: PSrivastava@duanemorrisselvam.com Web: www.duanemorrisselvam.com
Introduction Singapore’s energy and infrastructure sector is under- going significant transformation, driven by a transi- tion to renewable energy, accelerating technological adoption and evolving geopolitical dynamics. Amidst this change, Singapore has held its position as a key strategic hub for energy and infrastructure in Asia- Pacific by maintaining a stable regulatory environment and embracing global trends through robust policy support. As a key hub for energy trading, Singapore also plays a pivotal role in shaping regional energy markets, with emerging trends reflecting both oppor- tunities and challenges. Rise of Renewable Energy and Energy Transition Singapore has committed to achieving net zero greenhouse gas emissions by 2050. This transition to renewable energy has become a central driver of trends in the energy and infrastructure sector. The share of renewables in Singapore’s power genera- tion mix reached a record high of 2.58% in May 2025 due to Singapore ramping up renewable imports and accelerating local solar power generation. As Singa- pore has limited renewable energy potential, it expects to meet 6 gigawatts, or around one-third of its power demand, using clean electricity imports by 2035. Singapore’s energy transition is supported by legis- lative reform. Singapore’s energy market has been governed by several sets of legislation including the Electricity Act 2001, Gas Act 2001 and related regula- tions. The Electricity Act and Gas Act collectively cre- ate a competitive market framework for the electricity and gas industries. The Electricity Act regulates the generation, transmission, supply and use of electric-
ity and the Gas Act regulates the transportation and retail sale of gas. To strengthen Singapore’s ability to plan for and develop a decarbonised, secure and cost-competitive energy system, the Energy Transition Measures and Other Amendments Act 2024 progres- sively came into effect from late 2024 to September 2025. Notably, the Act established the Future Energy Fund which provides catalytic funding to improve the commercial viability of strategic clean energy projects, as these projects may involve high upfront costs and significant risks. The Future Energy Fund was estab- lished with an initial SGD5 billion and a further SGD5 billion committed towards the fund in February 2025. Other parts of the Act amend the Electricity Act and Gas Act to empower Singapore’s Energy Market Authority (EMA) to direct owners or occupiers of criti- cal energy infrastructure to allow licensees access to their infrastructure, regulate the power sector and safeguard energy security. Apart from the Future Energy Fund, Singapore has also been sourcing funds on the international platform. In September 2025, the Monetary Authority of Singa- pore announced that the Green Investments Partner- ship, a blended finance partnership under Singapore’s Financing Asia’s Transition Partnership initiative, had achieved its first close with USD510 million of com- mitted capital from institutions across Australia, the Netherlands, Singapore, the UK and more. The capital will be deployed into green and sustainable infrastruc- ture opportunities in Southeast and South Asia across a series of transactions. To attract additional financing into Singapore, in April 2025, government-linked company Singapore Energy
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