Singapore to Study Potential Deployment of Nuclear Power

Major investments necessary as country moves to secure clean energy: PM Wong

- Shabana Begum

Singapore will study the potential deployment of nuclear power here and take further steps to systematically build up capabilities in this area, Prime Minister Lawrence Wong said on Feb 18.

Noting that interest in nuclear energy is increasing worldwide, with several countries within the region planning to include nuclear in their energy mix, PM Wong said Singapore will need new capabilities to evaluate options and consider if there is a solution that the island-state can deploy in a safe, cost-effective way.

Malaysia and Indonesia, for example, have operated research reactors for some time, he noted.

"These capabilities will also be needed for nuclear safety, which will become more salient given the growing regional interest in nuclear power," said PM Wong.

The Government will also pump in another $5 billion into its existing Future Energy Fund to support Singapore's efforts to secure clean power, he said in his Budget speech.

"Be it electricity imports, hydrogen or nuclear, we will need to make major investments in new infrastructure," added PM Wong, who is also Finance Minister.

The Future Energy Fund was announced during Budget 2024 with an initial $5 billion investment. It was set up to catalyse investments into clean energy technology that may involve high upfront costs and significant commercial, technological and geopolitical risks.

The fund is part of Singapore's efforts to address its resource constraints.

PM Wong cited how the Republic overcame its water challenges through innovations such as recycling used water to form Newater, and building up its water industry.