Singapore earmarks $100m for green growth in marine and offshore energy

This will be rolled out over the next five years.

Singapore has announced a $100m support package for marine and offshore engineering companies.

According to Alvin Tan, minister of State for the Ministry of Culture, Community and Youth & Ministry of Trade and Industry, this will foster partnership and adopt solutions in areas including offshore wind, floating storage, and digitalisation over the next five years.

He announced this during the recent OSEA 2024 in Singapore.

The event highlighted the critical need to expedite the energy transition and encourage international cooperation.

Experts underlined the strategic advantage of implementing solutions promptly to comply with regulatory standards. They also emphasised the urgency of accelerating the adoption of groundbreaking technologies like carbon capture and storage (CCS), alternative fuels, and digital innovations for automation and efficiency.