YOG INFRA Q4 2024 insights
We see continous focus on transport and clean energy transition proejct developments across SINGAPORE, LAOS and CAMBODIA, via bilateral investments and PPPs. . SINGAPORE is taking notable steps to decarbonize shipping and similar hard-to-abate sectors apart from electricity import and green hydrogen development initiatives. LAOS is seeing initials developments in green hydrogen sub-secctor. CAMBODIA announced a 10-year roadmap outlining potential investment projects to be undertaken through Public-Private Partnerships (PPP) from 2025 to 2035 which will help to bring private sector investment into the country.
Read the latest developments in Infrastructure and PPPs in the three countries in our latest insight.
SINGAPORE
MOU SIGNED TO ENHANCE ZERO-CARBON SHIPPING INNOVATIONS IN THE UK AND SINGAPORE
Imperial College London and the Maritime and Port Authority of Singapore (MPA) have signed a five-year memorandum of understanding (MoU) to collaborate on zero-carbon shipping innovations and net-zero port emissions in both nations.
The partnership will focus on digital technologies like smart port systems and cybersecurity for maritime Internet-of-Things devices. Additionally, the MoU includes student exchanges, industry internships, and joint research. This initiative aligns with Imperial’s newly launched research hub in Singapore, aiming to accelerate breakthroughs in maritime decarbonization and strengthen the UK-Singapore Green Economy Framework.
SINGAPORE’S MPA TO ESTABLISH THE SINGAPORE-SHANDONG GREEN AND DIGITAL SHIPPING CORRIDOR
The Maritime and Port Authority of Singapore (MPA) and China-based Shandong Provincial Transport Department signed a memorandum of understanding (MoU) to establish the Singapore-Shandong Green and Digital Shipping Corridor (GDSC).
This initiative aims to enhance trade and maritime innovation between Singapore and Shandong, focusing on adopting green and digital shipping solutions. The partnership will involve key stakeholders in promoting technologies like alternative fuels, shore power, and digital information exchange, fostering growth in the maritime industry across both regions. This follows a similar agreement with Tianjin in 2023.
CHINA-BASED FIRM SECURES A USD 45 MN TO BUILD AN FSO FOR A SINGAPORE-BASED FIRM
China-based Titan Wind Energy has secured a USD 45 Mn deal to build a floating storage and offloading (FSO) vessel for Singapore-based contractor OceanSTAR Marine and Offshore Investment. The construction, which will be handled by Nantong Changfeng New Energy Equipment Technology, a subsidiary of Titan Wind, is expected to take 22 months.
Titan Wind’s subsidiary will oversee multiple aspects of the project, including design, hull construction, material and partial equipment procurement, installation, and pre-commissioning services. Meanwhile, the specific location for the FSO’s deployment has not been disclosed, it is anticipated to support offshore oil and gas extraction activities in Southeast Asia.
YGT AND WSS TO DEVELOP CHARGING INFRASTRUCTURE FOR SINGAPORE’S FIRST FULLY ELECTRIC CARGO VESSEL
Yinson GreenTech (YGT) and Wilhelmsen Ships Service (WSS) have signed an agreement to establish a charging infrastructure for Singapore’s first fully electric cargo vessel, Hydromover. The infrastructure will be built at WSS’ Pandan Loop facility to support the 18.5-meter vessel, which is equipped with swappable batteries and capable of transporting up to 25 tonnes of cargo.
This collaboration aligns with the Maritime and Port Authority of Singapore’s (MPA) goal for all harbour craft to become fully electric or use net-zero fuels by 2030. The agreement follows a successful trial where Hydromover moved WSS’ cargo during its commercial test operations.
AAPOWERLINK SECURES CONDITIONAL APPROVAL FROM SINGAPORE TO IMPORT GREEN ELECTRICITY
The Australia-Asia PowerLink (AAPowerLink) project of SunCable has received conditional approval from the Energy Market Authority (EMA) of Singapore to import green electricity. The EMA’s decision follows a comprehensive assessment, confirming the project’s technical and commercial viability. AAPowerLink aims to deliver 1.75 Gigawatt (GW) of renewable energy (RE) to meet 15 % of Singapore’s electricity needs, contributing to its energy diversification and net-zero targets.
SunCable can advance development and commercial activities, including negotiations with Singaporean industrial customers and engagement with stakeholders in Australia, such as the Northern Territory Government and local Traditional Owners. SunCable has invested over AUD 250 Mn (USD 159.96 Mn) across Australia, Singapore and Indonesia to support the development of the project.
YTL POWERSERAYA LAUNCHES 600 MW HYDROGEN-READY POWER PLANT IN SINGAPORE
YTL PowerSeraya has begun construction on a 600-Megawatt (MW) hydrogen-ready Combined Cycle Gas Turbine (CCGT) power plant at Pulau Seraya Power Station, with an estimated investment of SDG 800 Mn (USD 593.83 Mn) in Singapore.
The project aims for completion by December 2027 and will utilise advanced GE Vernova gas turbines, designed to be 50 % hydrogen-capable, supporting Singapore’s transition to a sustainable energy future. The initiative aligns with Singapore’s National Hydrogen Strategy, aiming to diversify its energy mix and contribute to net-zero goals by 2050.
SENOKO ENERGY AND GENTARI PARTNER TO IMPORT HYDROGEN POWER TO SINGAPORE
Senoko Energy, one of Singapore’s largest energy companies, and Gentari have signed a memorandum of understanding (MoU) to explore importing hydrogen from Malaysia to Singapore by 2029. The imported hydrogen will be integrated into Senoko’s gas turbines, projected to cut annual carbon emissions by 18,000 tons in the initial phase, aligning with Singapore’s 2050 net-zero goals.
This collaboration strengthens Gentari’s position in Southeast Asia’s green hydrogen market and supports Senoko’s sustainable initiatives. It complements previous partnerships, such as Senoko’s hydrogen-focused MoU with City Energy and its solar and green electricity projects.
EMA AND PETROCHINA PARTNER TO EXPAND SINGAPORE’S LNG EXPERTISE
The Energy Market Authority (EMA) and PetroChina have signed a memorandum of understanding (MoU) to boost Singapore’s expertise in Liquefied Natural Gas (LNG) supply and management. This collaboration aims to enhance Singapore’s energy security and explore alternative energy sources.
The agreement includes studying supply chain strengthening, knowledge exchange on LNG market dynamics, and potential joint procurement for more favourable contract terms. The partnership also explores advancing Singapore as a regional LNG hub and developing sustainable gas-to-power solutions, expanding Singapore’s role in the Asian energy landscape.
CHANGI AIRPORT INITIATES SGD 3 BN UPGRADE PLAN
The Changi Airport Group (CAG) has announced a six-year, SGD 3 Bn (USD 2.23 Bn) investment to enhance Changi Airport’s Terminals 1 to 4, focusing on baggage handling, immigration, check-in, and Skytrain systems in Singapore. The upgrades aim to improve service as passenger demand grows, keeping Changi competitive until Terminal 5 opens by the mid-2030s.
To fund the enhancements, passenger and airline fees will gradually increase from 2025 to 2030, with rebates for airlines in the first six months. These fee adjustments will also help recover pandemic-related investments, ensuring Changi maintains quality service standards amidst rising operational costs.
THE GOVERNMENT OF SINGAPORE ALLOCATES USD 74 MN FOR MARINE AND OFFSHORE ENERGY INNOVATIONS
The Government of Singapore has announced an SGD 100 Mn (USD 74.42 Mn) investment to promote green growth in the marine and offshore energy sectors over the next five years till 2030. The fund supports initiatives in marine digitalisation, offshore wind, and floating storage. These efforts align with Singapore’s Green Plan 2050, aiming for net-zero emissions. The plan also focuses on advancing technologies like carbon capture, alternative fuels, and digital systems to meet decarbonisation goals.
In parallel, Hann-Ocean Energy, a Singapore-based company, concluded trials for its Drakoo wave energy converter off Shengsi Island, Zhejiang Province.
KEPPEL INSTALLS HYDROGEN-COMPATIBLE GAS TURBINE AT SAKRA COGEN PLANT IN SINGAPORE
Keppel has installed a state-of-the-art, high-efficiency gas turbine at the Keppel Sakra Cogen Plant, Singapore’s first hydrogen-compatible cogeneration power facility. The turbine will enable the plant to generate 600 MW of power using advanced combined cycle gas turbine (CCGT) technology, producing both electricity and steam for industrial use. The facility is designed to significantly reduce CO2 emissions, helping Singapore meet its sustainability goals by cutting over 6 Mn tonnes of CO2 over its lifetime.
Additionally, the plant’s Main Control Building has achieved the building and construction authority (BCA) Green Mark Zero Energy certification, marking it as the first building on Jurong Island to meet this standard. This certification highlights its high energy efficiency through renewable energy deployment and advanced energy management strategies.
MOL AND MPA SINGAPORE STRENGTHEN MARITIME DECARBONISATION COLLABORATION
Japan-Based Mitsui O.S.K. Lines (MOL) and the Maritime and Port Authority of Singapore (MPA) have expanded their partnership on maritime decarbonization, formalising the collaboration with a memorandum of understanding (MoU). The MoU focuses on advancing the use of next-generation fuel sources, such as methanol, ammonia, and hydrogen, and studying the potential of wind technology. The partnership also aims to boost digitalisation in maritime operations, enhance voyage management, and support autonomous vessel trials. Another key area of focus is the joint development of maritime human resources, including training for seafarers and shore-based personnel.
The partnership is expected to contribute significantly to the Singapore-Japan Green and Digital Shipping Corridor, positioning both parties as leaders in driving green and digital maritime solutions.
SBS TRANSIT AND RATP DEV ASIA PACIFIC TO OPERATE SINGAPORE MRT JURONG REGION LINE
Singapore Bus Services Limited (SBS Transit), in partnership with French-based RATP Dev Asia Pacific, has been awarded the contract to operate the Jurong Region MRT Line (JRL), Singapore’s seventh MRT line. This marks the first time a foreign operator has been involved in Singapore’s local rail industry. The joint venture’s bid was 8 % lower than that of competitor Singapore Mass Rapid Transit (SMRT Trains). The nine-year contract, with a potential two-year extension, is valued at approximately SGD 750 Mn (USD 551.72 Mn).
The 24 km JRL will connect key western Singapore areas, including the Jurong Industrial Estate, Jurong Innovation District, and Nanyang Technological University. The line, consisting of 24 stations, is expected to open in stages between 2027 and 2029. Initial ridership is anticipated to reach 200,000, growing to over 500,000 as regional developments progress.
EQUINIX AND SEMBCORP EXPAND SOLAR INITIATIVE IN SINGAPORE
American-based Equinix Inc. and Sembcorp Industries have signed a second Power Purchase Agreement (PPA) to develop a 58.5 MWp solar project in Singapore. The project will install solar panels across 60 hectares of vacant land and rooftops on Jurong Island. Scheduled for operation by 2029, it is expected to cut annual carbon emissions by 30,275 tons, supporting Singapore’s Green Plan 2030.
The solar project aligns with Equinix’s global sustainability objectives and will contribute renewable energy to Singapore’s grid. This initiative is estimated to supply energy equivalent to the needs of 17,200 households, reinforcing the commitment to cleaner energy solutions.
MALAYSIA’S TNB AND SEMBCORP TO EXPORT RENEWABLE ENERGY TO SINGAPORE
Tenaga Nasional Bhd (TNB) and Sembcorp Power Private Limited have signed an agreement for Malaysia’s first renewable energy (RE) export to Singapore, supplying 50 MW of electricity. This initiative follows the Energy Exchange Malaysia (Enegem) auction in June 2024 and aligns with Malaysia’s Cross-Border Electricity Sales for Renewable Energy Scheme.
The energy will be delivered via existing Malaysia-Singapore interconnections. The initiative aims to leverage higher pricing in Singapore to fund Malaysia’s decarbonisation efforts, including renewable energy adoption and grid enhancements.
The country has been actively pursuing the development and export of renewable energy in recent years. It could benefit from the favourable pricing and foreign-exchange gains, while enhancing its renewable-energy sector and supporting regional-energy needs. Singapore aims to import up to 4 gigawatts (GW) of low-carbon electricity by 2035, representing about 30 % of its total electricity supply.
LAOS
TTCL PUBLIC COMPANY LIMITED SIGNS THB 1.2 BN CONTRACT FOR GREEN HYDROGEN PLANT IN LAOS
This deal focuses on the construction of a green hydrogen and ammonia pilot plant located in Laos. The plant will have a production capacity of about 4,000 tons per year. Tanzania Telecommunications Corporation (TTCL) is tasked with the engineering, procurement, and construction (EPC) responsibilities for the project.
The Laos-based plant will utilize a carbon-free innovative technology known as methane pyrolysis. This technology enables the production of hydrogen without releasing carbon dioxide, a major greenhouse gas. By leveraging this cutting-edge method, the plant will contribute to reducing carbon emissions and promote sustainable energy practices.
The project is expected to bring both economic and environmental advantages to Laos. It will create local job opportunities during construction and operation stages, while the use of green hydrogen can play a role in reducing reliance on non-renewable energy sources. Moreover, the project’s success could position Laos as a leader in renewable energy within the Southeast Asia region.
YUNNAN INFRASTRUCTURE FIRM CONSIDERS LAOTIAN TRANSMISSION LINES
Yunnan Construction and Investment Holding (YCIH), which is an infrastructure conglomerate owned by China’s Yunnan provincial government, is looking at the feasibility of developing new power transmission lines in Laos. The Chinese firm plans to work with Laos’ state utility Électricité du Laos (EDL) to assess the development of high-voltage networks in different parts of Laos. They will conduct a study on the commercial viability of the project, before taking any investment decisions.
The intention is to build up a network of stable power transmission infrastructure that can accommodate the rising electricity demands across Laos, particularly in the Southeast Asian country’s industrial and development zones.
CONSTRUCTION WORKS COMMENCES FOR THE FIRST 1 GW SOLAR PV PROJECT IN LAOS
China’s state-owned China General Nuclear (CGN) has launched the construction of Laos’ first large-scale solar photovoltaic (PV) project. The project, part of the Northern Laos Interconnected Clean Energy Base, aims to integrate wind, solar, and biomass energy to enhance China-Laos power interconnection. Located in the provinces of Oudomxay, Luang Namtha, and Phongsaly, the base will utilize Laos’ natural resources to generate economic benefits and foster industrial synergy between the two nations.
The initial phase of the project, with a capacity of 1 GW, is situated in Oudomxay Province and is expected to produce 1.7 Bn kWh annually, enough to power 10 Mn households. Electricity generated will be transmitted to Yunnan Province via a 500 kV grid, aiding China’s energy transition. Over 40 Chinese enterprises and 30 local companies will collaborate on construction, creating thousands of jobs and strengthening Laos’ new energy sector.
CAMBODIA
THE GOVERNMENT OF VIETNAM PLANS USD 3 BN EXPRESSWAY TO CAMBODIA
The Government of Vietnam has proposed a new expressway project costing around USD 3.17 Bn, intended to link the country’s southwestern provinces with Cambodia. The Ha Tien–Rach Gia–Bac Lieu Expressway will stretch over 175 km, starting from the Ha Tien International Border Gate and connecting to National Highway 1 in Bac Lieu City. The project includes four lanes, emergency lanes, and a design speed of 100 kmph, enhancing regional connectivity and supporting socio-economic development.
The Ministry of Transport (MoT) aims to improve the expressway network in the Mekong Delta, targeting 600 km of completed expressways by 2025 and a total of 1,200 km by 2030. So far, over 120 km have been operational, with additional stretches under construction. The new expressway is part of a broader strategy to enhance infrastructure and economic growth in the region.
CAMBODIA APPROVES 23 POWER SECTOR PROJECTS, INCLUDING 2 ENERGY STORAGE PLANTS, 12 SOLAR PROJECTS.
Cambodia is accelerating the development of clean energy to reduce its reliance on imported energy, enhance the country’s energy security, ensure reliable and affordable power supply, and help this Southeast Asian nation achieve its goal of having at least 70% clean energy by 2030. Cambodia approved 23 investment projects in the power sector for 2024-2029, with a total expected investment of USD 5.79 Bn. The approved projects include 12 solar projects, 6 wind projects, 1 biomass and solar combined project, 1 LNG power generation project, 1 hydropower project, and 2 energy storage stations. Collectively 21 of these projects will serve as power stations, with a combined capacity of 3,950 MW, while the two large-scale storage projects will have a capacity of 2,000 MW.
These projects will significantly boost Cambodia's domestic power supply capacity, providing more reliable and affordable electricity, effectively addressing domestic power shortages, and ensuring the national grid can meet the growing demand for electricity. Cambodia had provided electricity to over 14,000 villages nationwide, covering 99.88% of the country. Cambodia plans to suppress electricity prices through the expansion of clean energy projects, reducing living costs, and promoting the development of industry, trade, and agriculture.
LEADER ENERGY VENTURES INTO WIND ENERGY IN CAMBODIA
Leader Energy Group Bhd a Malaysia company is venturing into the wind energy industry after the group signed an Implementation Agreement (IA) for a 150-megawatt wind farm with Cambodia’s Mines and Energy Ministry. The wind farm, scheduled for completion in 2027 and set to be in Mondulkiri province, will add a new dimension to the group’s renewable energy (RE) portfolio, reinforcing its role in driving sustainable development across Southeast Asia.
The farm will harness the region’s untapped wind resources, showcasing the viability of large-scale wind energy in Cambodia, diversify the nation’s energy mix and meet its growing power demands. Under the agreement, Leader Energy will manage the wind farm for 25 years.
ADB APPROVES USD 173 MN FOR CAMBODIA’S CLIMATE-RESILIENT WATER MANAGEMENT
The Asian Development Bank (ADB) has approved USD 173 Mn for two projects aimed at improving water management in Cambodia.
The first project is an USD 88 Mn project targeting river basins in Battambang and Pursat provinces, meanwhile, the second project is an USD 85 Mn expansion to enhance irrigation systems in four provinces. These projects aim to increase climate resilience, improve water efficiency, and protect communities from flooding and drought, ultimately boosting food security and agricultural productivity.
ADB is committed to supporting Cambodia in building resilience against climate challenges and ensuring sustainable water management. These two projects will modernize critical irrigation and flood management systems in regions facing severe drought and flood risks and make investments to protect communities and ecosystems alike.
These projects will empower farmers with climate-smart irrigation practices to secure their livelihoods, enhance food production, and strengthen food security. Agriculture and water resources are identified as the sectors most vulnerable to the impacts of climate change. Frequent floods during the wet season affect 4 Mn people, or nearly one-fourth of the population, with annual losses estimated at USD 250 Mn, which is over 1 % of the country's gross domestic product (GDP).
CAMBODIA SETS 10-YEAR ROADMAP FOR PPP PROJECTS
The Royal Government has announced a comprehensive 10-year roadmap outlining potential investment projects to be undertaken through Public-Private Partnerships (PPP) from 2025 to 2035. The PPP investment projects mainly focus on infrastructure such as roads, bridges, ports, logistics, energy, clean water supply and waste management. The move is expected to unlock significant opportunities for both domestic and international investors. Also, more sectors can be added to the PPP priority list if they get approval from the government.
The move is based on the Law on Public-Private Partnership enacted on November 18, 2021, replacing the 2007 Law on Concession. The PPP Law applies to all qualified projects dealing with the development of public infrastructure and public services in strategic sectors such as transportation, digital and telecommunications, energy, environment, social affairs, science, and agriculture.
Under the PPP Law, the selected private partner is entitled to a concessional tax regime for the approved project and gets rights over the properties of the project as well as a guarantee by the government to underwrite contracts for easily availing credit from lenders. The release of the 10-year PPP roadmap signifies the government’s strong commitment to public-private partnerships as a key driver of sustainable development.
This move aligns with the government’s broader strategy to diversify the economy and reduce reliance on traditional sectors as Cambodia seeks to attract foreign direct investment, create jobs, and enhance the country’s competitiveness on the global stage. The Council for the Development of Cambodia (CDC) approved 346 fixed-asset investment projects worth USD 5.5 Bn during the first 10 months of 2024, generating over 266,000 jobs.
The new projects focused on garments, travel goods, and footwear sectors, hotel development, hydroelectric power stations, freshwater ports, solar power plants, lighting and accessory factories, agriculture, amusement parks, car tyre plants, special economic zones, and infrastructure, among others.
List of key transactions - Singapore, Laos and Cambodia Q4 2024
Source: YOG INFRA, Public Information
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