Singapore plans to invest SGD5bn (US$3.7bn) in its existing Future Energy Fund, doubling its initial budget, to support Singapore’s efforts to secure clean power and strengthen energy infrastructure. Singapore will assess options to include nuclear in its energy mix. Since the country has limitations in accessing renewable energy and currently imports low-carbon electricity from neighbouring countries (agreements to import 5.6 GW of low carbon electricity from Indonesia, Cambodia and Vietnam by 2035 and agreement with Laos), it may turn to nuclear power and small modular reactors (SMRs) specifically, to raise low-carbon power generation.
Earlier in February 2025, Singapore released its updated Nationally Determined Contribution (NDC) for the January 2031 to December 2035 period, committing to reduce its greenhouse gas (GHG) emissions to between 45 to 50 MtCO2e in 2035, a more ambitious goal from the 60 MtCO2e set to be achieved by 2030. To do so, the country aims to phase out unabated coal from its electricity mix by 2040, maximise the deployment of solar PV to achieve at least 2 GW by 2030, raise clean energy imports from 4 GW to around 6 GW by 2035, and to implement CCS in hard-to-abate sectors.
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