Singapore Sees Green Technology Opportunity

In an effort to develop the talent and to identify products and services for the renewable energy sector, Singapore’s government has set aside S$17 million to test and develop solutions as it looks to join the growing trend of going green.

 

The government sees this as a promising opportunity to be an active part of an emerging industry potentially worth billions of dollars.

 

Under the auspices of the Clean Energy (News - Alert) Research and Testbedding, or CERT, the government is seeking providers and proposals for three test sites: the Gardens by the Bay, Marina Barrage, and Singapore Polytechnic campus.

 

This is why the Singapore government is spending money and lending its gardens and buildings to grow the green business.

 

Ko Kheng Hwa, Managing Director of Singapore’s Economic Development Board believes in the project.

 

“The whole idea is firstly to develop the capability in Singapore so that we’re able to design, to deploy, to implement clean technology here. And with this expertise we can promote the use of clean technology in Singapore. And at the same time, we can develop products and services that we can export to the international market,” he said.

 

According to a report in Channel News Asia, it is estimated that the global market for environmental technologies will grow to some US$700 billion by 2010.

 

In Singapore, S$350 million worth of public funding has been committed to green technology, which runs the gamut from solar power, fuel cells, and wind power.

 

The Clean Energy industry is expected to create S$1.7 billion in value-add and 7,000 jobs by 2015.

 

The government also hopes to extend the CERT program to the construction industry in the near future.

 

CERT is a coalition comprised the Economic Development Board, the National Environment Agency, and International Enterprise (IE) Singapore, formerly known as Singapore Trade Development Board.

 

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