Businesses are getting extra help to bolster energy efficiency as the world transitions to a lower carbon economy.
The Energy Market Authority (EMA) and the Economic Development Board (EDB) are rolling out separate grants for projects that can each trim at least 500,000 tonnes a year of carbon emissions.
The EMA will co-fund up to 50 per cent of the qualifying cost of a project involving a combined-cycle gas turbine operating in Singapore.
As well as a new scheme, the EDB has raised its co-funding for energy efficiency projects in the industrial sector from 30 per cent to 50 per cent. It has co-funded 32 projects under a previous scheme which resulted in about 158.7 kilotonnes of carbon abatement annually. New projects seeking EDB co-funding must also be carried out in Singapore.
The National Environment Agency (NEA) is separately raising the co-funding for businesses investing in energy efficient technologies from 30 per cent to 50 per cent. Its co-funding is targeted at small to medium-sized enterprises with annual turnover of up to $500 million.
The new and enhanced grants were outlined by Trade and Industry Minister Chan Chun Sing at the opening of the Singapore International Energy Week yesterday.
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50%
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The EMA will co-fund up to this percentage of the qualifying cost of a project involving a combined-cycle gas turbine operating here.
Companies can apply for the grants from Jan 1. Applications for the EMA's co-funding will close on April 1 next year.