Another S$195 million will be allocated to promote research and development in the energy sector in Singapore over the next five years.
The inter-agency Energy Innovation Programme Office (EIPO) said on Tuesday that the additional funding will help accelerate the growth of the clean energy industry in Singapore.
The target is for the sector to contribute S$1.7 billion of economic value-add and 7,000 skilled jobs by 2015.
The funding will enable EIPO to build on the existing strengths in solar energy, and diversify into new growth areas such as smart grids, green buildings, and carbon capture and utilisation (CCU).
In addition, the funding will augment EIPO’s efforts in the commercialisation of R&D results and develop postgraduate talent.
Singapore’s clean technology sector as a whole has received a boost in R&D funding lately.
This allocation follows Deputy Prime Minister Tharman Shanmugaratnam’s announcement of an additional S$140 million from the National Research Foundation devoted to R&D in the water sector
