Indonesia and Singapore present huge market opportunities for European companies with pioneering green energy technologies. Indonesia has started adding more renewables to its energy plan and has set out to achieve 23% renewable energy use by 2025 and 31% by 2050. This initiative requires over €12.9 billion of investments per year in renewable power capacity. Singapore, on the other hand plans to spend up to €445 million on clean technology research and development, and the green energy industry contributes €2.25 billion to its economy.
There is a need for solar energy given the countries’ strategic locations, as well as focus in innovative electric vehicle (EV) solutions, with growing interest generated by government initiatives. In Singapore, EVs could make up 30% to 50% of Singapore’s motor population by 2050.
Companies with photovoltaic expertise will find many opportunities to collaborate with Singapore companies to respond to SolarNova, a programme led by the Singapore Economic Development Board. There is a rising interest among real estate developers to develop eco-friendly homes and offices.
Ambitious European companies can take on these business opportunities and apply for the upcoming EU-funded mission in green energy technologies, taking place from 28 October to 1 November 2018. Selected companies will also exhibit at the Asia Clean Energy Summit 2018 (ACES), part of Singapore International Energy Week.