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SINGAPORE : Singapore has what it takes to become a major trading hub and production centre of biofuels, but more can done to encourage domestic use of green fuel sources.
This is according to policymakers and researchers at the "Sustainable Energy Asia Conference" in Singapore.
The government's push to attract big players in clean energy to Singapore is already showing results.
Singapore is now home to the world's largest wind power systems maker Vestas and European solar company Conergy.
"Increasingly, we're seeing more of such companies having an interest in exploring opportunities here, and setting up R&D headquarters. So, we are in discussions with them. They are from different sectors, including clean energy, renewable energy and biofuels and so on," said Dr Amy Khor, Senior Parliamentary Secretary, Ministry of the Environment & Water Resources.
And there's much more for Singapore to tap on.
For example, biofuels such as ethanol and biodiesel are expected to make up about 6% of the global gasoline market by the year 2020.
And industry experts say Singapore is set to become Southeast Asia's largest biodiesel production centre by year's end when Natural Fuel and Van Der Horst Biodiesel production plants come on stream.
However, they say mandatory guidelines on blending will be needed to urge domestic consumption of green fuel sources. And that is not expected to cost consumers more. Observers say most vehicles today can process blended gasoline.
Experts point out that both biodiesel and petroleum diesel cost the same - at about US$600 to US$650 per tonne.
"We expect Singapore, in the future, to also give more favourable consideration for blending of some of the biofuels into the current transportation fuels. The choice of the precise percentage of blending is up to the government to decide," said David Tee Liang, director of Advanced Clean Energy Centre at Nanyang Technological University.
"But any kind of gesture towards encouraging the use of blended diesel together with biodiesel will be a good signal to the consumers, that we are moving towards a more sustainable development model."
And that is why the clean energy industry has been identified as a key growth area for Singapore.
It is expected to boost the country's economy by about $1.7 billion and create 7,000 jobs by 2015. - CNA /ls
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