A 10-hectare plot in Jalan Bahar in northwest Singapore will be the site of the new Clean Tech Park, which will house a cluster of about eight buildings.

Companies focusing on green R&D and products will be the main tenants.

The first building is expected to be up by 2010, said Deputy Prime Minister and coordinating minister for national security Professor S Jayakumar at the opening of the Singapore Energy Conference at the Raffles City Convention Centre on Tuesday.

The project is about achieving new lows, said Prof Jayakumar - 'low waste, low energy, and low carbon emissions' - through the use of green buildings, renewable energy and clean technologies.

'Doing more with less are key to creating sustainable cities,' he said.

Concrete plans for the park are expected to be released in the first quarter of next year.

Though accounting for only 0.2 per cent of the world's carbon emissions, Singapore's efforts to provide solutions to the climate change problems were given the thumbs up by experts on Tuesday.

Noting Singapore's ability to soon export lucrative green technologies to overseas markets, leynote speaker Peter Schwartz said he found the Republic's progress in environmental progress 'astonishing.'

The government has already invested some $170 million to help boost the clean energy industry.

'You could well be a nett winner in this whole situation,' said Mr Schwartz, who is also co-founder and chairman of international consultancy firm Global Business Network.

Technology will be key in improving energy efficiency, which will help maximise limited fossil fuel stocks to meet escalating demand, said Mr Schwartz.

Helping drive home the point, fellow speaker Dr Robert Dixon, former White House senior coordinator for energy security, added that major investments in carbon capture technology will be needed.

And governments cannot wait, said Dr Dixon.

Simply put, 'A record breaking pace is required to address energy security,' he said.