Tycoon says Singapore wants green fuel, not giant cable

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Tycoon says Singapore wants green fuel, not giant cable
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Singapore is among major global shipping hubs that are responding to decarbonisation with ambitions to boost trade in fossil fuel alternatives, including biofuels and hydrogen. Read more at straitstimes.com.

SYDNEY - Billionaire Andrew Forrest sees an opportunity to export green fuels to Singapore after the collapse of a A$30 billion project to supply clean electricity from Australia.

Those plans, which had already drawn industry scepticism, are now unviable, with costs spiralling and uncertainty over demand, Mr Forrest said in an interview in Davos. Authorities have previously said the nation has had more than 20 proposals for clean electricity supply, including from neighboring Indonesia and Malaysia, and is on track to meet a target of importing four gigawatts by 2035.Sun Cable confirmed in October it had received letters of intent from potential customers for the supply of about 2.5 gigawatts, compared to planned capacity of around 1.75 gigawatts, the tech billionaire’s Grok family office said in a statement.

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