Singapore and India Explore Low-Carbon Electricity Trading
Discussions to connect electricity markets between Singapore and India aim to facilitate low-carbon power trade. This initiative could enhance energy security for Singapore and reduce costs due to lower solar generation prices in India.
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Discussions have commenced regarding the interconnection of the electricity markets between Singapore and India to enable low-carbon electricity trade. Singapore's electricity tariffs have risen to S$0.297 per kWh, significantly higher than India's solar generation cost of approximately US$0.054 per kWh.
Two potential routes for electricity transmission have been identified: a 4,000 km land corridor through Southeast Asia and a 3,000 km undersea cable route. The project could enhance Singapore's energy security and reliability.
However, challenges include the need for capital mobilization and harmonizing standards for subsea cables. Successful collaboration between governments and private sectors is essential for this initiative to progress.
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