Sembcorp Industries is set to collaborate with Singapore’s Energy Market Authority (EMA) as part of a pilot program to enable the deployment of energy storage systems (ESS) in the country.
The initiative, also known as ACCESS (ACCelerating Energy Storage for Singapore), was announced at Singapore International Energy Week 2018 earlier this morning.
Energy storage solutions can help counter the intermittency of renewable power sources and enhance the overall stability and resilience of the grid. They can also potentially allow consumers to optimise their peak demand and energy cost by taking more energy during off peak hours and storing it to use later, thus reaping savings on their power bills.
Such solutions are currently not common in Singapore, but have been employed in other markets overseas.
The ACCESS programme will see Sembcorp working closely with EMA to pilot the use of energy storage systems here. EMA will also help Sembcorp explore business models for energy storage systems, and facilitate regulatory and market approvals for Sembcorp’s operation of such systems in Singapore.
Sembcorp is currently the first and only power player to partner EMA on the scheme.
Energy storage solutions can work synergistically with Sembcorp’s other power generation assets such solar power and conventional gas-fired generation, to create more value for consumers.
Potential applications could be to provide complete behind-the-meter clean energy solutions for individual electricity consumers or a demonstration project in the form of an energy park where complementary energy technologies can be showcased.
Sembcorp Group president & CEO Neil McGregor said: “Energy storage is a critically important technology that is gaining momentum globally and will be a game changer especially in the clean energy space.
“At Sembcorp, our goal is to offer energy that makes a difference. As an integrated energy player at the forefront of green solutions, we see the inclusion of energy storage systems as a good complement to our growing renewable energy portfolio.
“We have invested in such systems overseas in the UK, and are now excited to partner with EMA to apply the technology at home in Singapore, where we are one of the largest solar power players.”
Sembcorp has over 20 years’ track record in the Singapore power and utilities market. It has two gas-fired power plants in the country totaling 1,219 megawatts. It is also one of the largest solar energy players in Singapore, with a solar power portfolio of over 105 megawatts across more than 1,500 sites in the country.
As a Group, Sembcorp is actively positioning itself for success in tomorrow’s energy market. In recognition that the world is rapidly transitioning to a low-carbon economy, the company announced ambitious targets earlier this year to double its global renewables portfolio to around 4,000 megawatts by 2022.
At present, Sembcorp has over 2,500 megawatts of renewable energy assets, comprising wind and solar power projects across Singapore, China and India.
Source: Company Press Release