Singapore's Strategic Energy Evolution: Nuclear Power Consideration and Key Investments
Key Ideas
- Singapore is studying the potential deployment of nuclear power to meet energy needs and reduce carbon emissions, focusing on small modular reactors.
- The government will reorganize to build capabilities for nuclear power evaluation and safety, recognizing the importance of clean power and energy resilience.
- Despite challenges with hydrogen production and transportation, Singapore is investing S$5 billion in the Future Energy Fund to secure clean power for the country.
- Efforts in technology, innovation, enterprise ecosystem, and infrastructure investments aim to keep Singapore ahead in a rapidly evolving global landscape.
In his Budget 2025 speech, Prime Minister Lawrence Wong of Singapore disclosed the government's intentions to explore the deployment of nuclear power in the country. Singapore has engaged in civil nuclear cooperation with the US and is seeking similar arrangements with other experienced nations, particularly in small modular reactors (SMRs). Recognizing the need for clean power and energy resilience, the government plans to enhance its capabilities to evaluate nuclear power options and ensure safety. Although Singapore has examined low-carbon hydrogen, challenges in production and scalability exist. Despite past assessments ruling out conventional nuclear technologies, advancements in SMRs have rekindled interest. To address energy needs, a S$5 billion top-up to the Future Energy Fund was announced to support clean power initiatives. Singapore's strategic focus on technology, innovation, enterprise, and infrastructure investments underscores its commitment to staying ahead in a dynamic global environment.