January, 29, 2024 - THE Energy Market Authority (EMA) has awarded YTL PowerSeraya the right to build, own and operate a hydrogen-ready combined cycle gas turbine unit with a capacity of at least 600 megawatts.
The power plant is expected to be commissioned by end-2027.
Formerly known as PowerSeraya, the local energy producer was spun off from Singapore Power in 2001 to become a Temasek-linked company. In 2009, it was divested to Malaysia’s YTL Power International before it was subsequently renamed as YTL PowerSeraya.
On Monday (Jan 29), EMA said YTL PowerSeraya’s proposal was selected out of four submissions for EMA’s inaugural request for proposal (RFP) for new generation capacity under the authority’s centralised process framework.
The RFP was launched in July 2023 and closed on Oct 31 in the same year.
EMA’s centralised process to develop new generation capacity was established to guide generation companies in making hydrogen-ready, lower-carbon-intensity solutions and technologies to develop a “greener and more resilient power system”.
Under the framework, EMA will conduct RFPs to invite the private sector to construct, own and operate new generation capacity in the event there is insufficient generation capacity to meet the power system’s demands. This is based on the authority’s projections for Singapore’s electricity demand and available generation capacity on a rolling 10-year basis.
The RFPs will be made about five years in advance of the year it is projected to be required.
In the lead-up to EMA’s RFP launched last year, the authority determined that Singapore’s system peak demand will hit an annual growth of at least 3.4 per cent, compared with 1.5 per cent previously – giving rise to a need for additional generation capacity by 2028.
EMA said it expects such an acceleration in electricity demand to be driven by industries such as advanced manufacturing, digital economy, food and transport.
EMA chief executive Ngiam Shih Chun said he expects YTL PowerSeraya’s new power plant to “support the reliability and security of Singapore’s power system”.
“We look forward to further investments by the private sector in our energy system.”
