SINGAPORE - Sembcorp Industries opened a $635 million co-generation plant on Jurong Island on Friday, its second in Singapore.
The plant, which began operating at the start of October, generates electricity for the national grid and produces steam for industrial companies on Jurong Island, Sembcorp said in a press release.
The company also opened a new technology and innovation centre near the plant, which it said was for Sembcorp researchers and engineers to develop and test new technologies.
Mr S. Iswaran, minister in the prime minister's office, told the opening ceremony at Jurong Island on Friday that it was "important for the public and private sectors to continue to work together to ensure that the energy sector keeps pace with our growing needs". He is also second minister for home affairs and trade and industry.
Mr Tang Kin Fei, group president and chief executive of Sembcorp, said in a speech at the ceremony that the plant, called Sembcorp Cogen @ Banyan, is a gas-fired cogeneration plant that can supply 400 megawatts of power and 200 tonnes per hour of process steam.
This facility increases Sembcorp's installed power capacity in Singapore by 50 per cent to 1,215 megawatts, he added.
He also said that the new technology and innovation centre would have a system that allows the firm to manage its energy and water facilities in 50 locations around the world from Singapore.
"It will put Sembcorp at the forefront of using predictive analytics in the operation of utility plants," he added.
Sembcorp shares gained seven cents to close at $4.87 on Friday.