Singapore to Import Solar Energy from Australia

Singapore has received conditional approval from its Energy Market Authority to import solar energy from Australia via a 4,300-kilometer undersea cable, which aims to supply nearly 10% of its energy needs by 2035. The project, led by Sun Cable, will source solar power from a large solar farm in Australia’s Northern Territory. Meanwhile, the Australian mining industry is urged to reform its Fuel Tax Credits Scheme to support electrification and reduce emissions, which would enhance the nation’s economic competitiveness. The Climate Council emphasizes the need for Australia to ramp up renewable energy projects, especially in light of global tensions that threaten energy security. They argue that transitioning away from fossil fuels is critical for both climate and economic stability. The International Energy Agency has noted an unprecedented rate of renewable energy capacity growth globally, highlighting the urgency for further investment in clean energy initiatives.