Green Energy Technologies Singapore Market Study JULY 2018 © Copyright EU Gateway | Business Avenues The information and views set out in this study are those of the author(s) and do not necessarily reflect the official opinion of the European Union. Neither the European Union institutions and bodies nor any person acting on their behalf may be held responsible for the use which may be made of the information contained therein. The contents of this publication are the sole responsibility of EU Gateway | Business Avenues and can in no way be taken to reflect the views of the European Union. The purpose of this report is to give European companies selected for participation in the EU Gateway | Business Avenues Programme an introductory understanding of the target markets countries and support them in defining their strategy towards those markets. For more information, visit www.eu-gateway.eu. EU Business Avenues in South East Asia Central Management Unit Singapore Market Study JULY 2018 Submitted to the European Commission on 06 July 2018 Green Energy Technologies – Singapore Market Study - Page 3 of 206 Table of Contents 1. EXECUTIVE SUMMARY ............................................................................................................................. 9 2. WHAT ARE THE CHARACTERISTICS OF SINGAPORE? ..................................................................... 15 2.1 POLITICAL OVERVIEW ........................................................................................................................ 15 2.2 ECONOMIC OVERVIEW ........................................................................................................................ 16 2.3 TRADE OVERVIEW .............................................................................................................................. 17 2.4 MARKET ACCESS ............................................................................................................................... 19 2.5 BUSINESS AND COMPETITIVE ENVIRONMENT ....................................................................................... 20 3. MARKET OVERVIEW & EU ENTRY OPPORTUNITIES IN SINGAPORE ............................................... 23 3.1 THE GREEN ENERGY TECHNOLOGIES SECTOR IN SINGAPORE ............................................................. 23 3.1.1 Overview of the Green Energy Sector ........................................................................................ 23 3.1.1 Key Associations ......................................................................................................................... 32 3.1.2 Entry Strategies ........................................................................................................................... 33 3.1.3 Challenges & Entry Barriers ........................................................................................................ 37 3.2 WIND ................................................................................................................................................. 39 3.2.1 Market Overview.......................................................................................................................... 39 3.2.2 EU Entry Opportunities ................................................................................................................ 41 3.3 SOLAR .............................................................................................................................................. 49 3.3.1 Market Overview.......................................................................................................................... 49 3.3.2 EU Entry Opportunities ................................................................................................................ 55 3.4 AERO THERMAL ................................................................................................................................. 69 3.4.1 Market Overview.......................................................................................................................... 69 3.4.2 EU Entry Opportunities ................................................................................................................ 69 3.5 GEOTHERMAL .................................................................................................................................... 70 3.5.1 Market Overview.......................................................................................................................... 70 3.5.2 EU Entry Opportunities ................................................................................................................ 72 3.6 HYDROTHERMAL AND OCEAN ENERGY ............................................................................................... 74 3.6.1 Market Overview.......................................................................................................................... 74 3.6.2 EU Entry Opportunities ................................................................................................................ 76 3.7 HYDROPOWER ................................................................................................................................... 82 3.7.1 Market Overview.......................................................................................................................... 82 3.7.2 EU Entry Opportunities ................................................................................................................ 84 3.8 BIOMASS ........................................................................................................................................... 86 3.8.1 Market Overview.......................................................................................................................... 86 3.8.2 EU Entry Opportunities ................................................................................................................ 88 Green Energy Technologies - Singapore Market Study - Page 4 of 206 3.9 LANDFILL GAS/ SEWAGE TREATMENT GAS / BIOGAS .......................................................................... 94 3.9.1 Market Overview.......................................................................................................................... 94 3.9.2 EU Entry Opportunities ................................................................................................................ 98 3.10 POWER GENERATION ....................................................................................................................... 103 3.10.1 Market Overview........................................................................................................................ 103 3.10.2 EU Entry Opportunities .............................................................................................................. 108 3.11 ENERGY EFFICIENCY AND CARBON SERVICES ................................................................................... 112 3.11.1 Market Overview........................................................................................................................ 112 3.11.2 EU Entry Opportunities .............................................................................................................. 119 3.12 BIOFUELS ........................................................................................................................................ 128 3.12.1 Market Overview........................................................................................................................ 128 3.12.2 EU Entry Opportunities .............................................................................................................. 131 3.13 COGENERATION TECHNOLOGY ......................................................................................................... 133 3.13.1 Market Overview........................................................................................................................ 133 3.13.2 EU Entry Opportunities .............................................................................................................. 138 3.14 CARBON CAPTURE AND STORAGE .................................................................................................... 143 3.14.1 Market Overview........................................................................................................................ 143 3.14.2 EU Entry Opportunities .............................................................................................................. 144 3.15 MOBILITY SOLUTIONS ...................................................................................................................... 146 3.15.1 Market Overview........................................................................................................................ 146 3.15.2 EU Entry Opportunities .............................................................................................................. 158 4. REGULATIONS ....................................................................................................................................... 167 4.1 GENERAL IMPORT PROCEDURES ...................................................................................................... 168 4.2 GOVERNMENT TENDERS ................................................................................................................... 169 4.3 THE ENERGY CONSERVATION ACT ..................................................................................................