SINGAPORE: The city-state is stepping up its exploration of nuclear power as part of its broader strategy to secure a sustainable energy future. Prime Minister Lawrence Wong announced on February 18 that the government will study the potential deployment of nuclear energy and take steps to develop the necessary capabilities to evaluate its feasibility. This comes as global interest in nuclear energy grows, with neighbouring countries such as Malaysia and Indonesia already operating research reactors.
Building capabilities for nuclear safety
In the latest Straits Times report, PM Wong emphasized that Singapore’s decision-making process on nuclear power will include considerations on safety, cost-effectiveness, and overall environmental impact. “As interest in nuclear energy increases regionally, we will need new capabilities to assess whether nuclear power can be deployed safely and efficiently,” he said. These capabilities will also be critical for ensuring nuclear safety standards, especially as nuclear technology advances. Wong pointed to Small Modular Reactors (SMRs)—which are more compact and come with improved safety features—as a promising option for the city-state, particularly given Singapore’s space limitations. These smaller reactors could potentially be deployed in urban environments, with some already operational in other countries.
Future energy fund – A $10 billion investment in clean power
In a move to accelerate Singapore’s clean energy transition, PM Wong also revealed that the government will inject an additional $5 billion into the Future Energy Fund, bringing the total fund to $10 billion to support Singapore’s clean energy transition. Originally launched in Budget 2024, the fund aims to drive investments into clean energy technologies that face high initial costs and significant commercial risks. By boosting the fund to $10 billion, Singapore is positioning itself to secure energy solutions that align with its long-term goal of achieving net-zero emissions by 2050. PM Wong stressed the urgency of expanding access to clean energy as part of the nation’s efforts to meet growing energy demands from industries such as AI, semiconductors, and biopharmaceuticals.
While Singapore currently relies heavily on natural gas, which accounts for 95% of its energy needs, the Republic is exploring a mix of low-carbon alternatives, including nuclear power, hydrogen, and electricity imports. With the power sector contributing to about 40% of Singapore’s total emissions, reducing emissions from this sector is critical for the nation’s ambitious climate goals.
As part of its clean energy strategy, Singapore has signed agreements with nearby countries like Indonesia, Cambodia, and Vietnam to import 5.6 gigawatts of low-carbon electricity by 2035. The government is also eyeing hydrogen as a potential green fuel, though challenges remain in scaling up its production and transportation.
Through these bold investments and strategic collaborations, Singapore is poised to further secure its energy future while making strides in its efforts to reduce carbon emissions and meet international climate commitments.