Speech by SMS Low Yen Ling at the launch of Project SolaREV

Mr Gary Seah, Managing Director of Redux

Mr Jeff Seah, Business Development Director of Redux

Dr Stanley Wang, Chief Executive Officer of EtaVolt

Mr Ben Teng, Managing Director of Vector Green

Distinguished guests,

Ladies and gentlemen,

Opening & Welcome

1.            Good morning. It is my pleasure to join you all for the launch of Project SolaREV. On behalf of the Singapore Government, on behalf of MTI, as well as EnterpriseSG and IPI Singapore, we want to extend our warmest congratulations to Redux, EtaVolt, and Vector Green on this important milestone. Project SolaREV is an excellent example of the power of collaboration to achieve sustainable solutions.

Singapore’s Transition to Clean Energy

2.            Climate change is really reshaping our world. We are already experiencing record-breaking heat, heavier rainfall, and unfortunately, rising sea levels. At the same time, global energy demand is projected to grow by around 30% by 2050. What does this mean for a land- and resource-constrained country like Singapore? All these trends put together, really means increased pressure on our environment as well as on our grid, our energy system.  

3.            Clean energy lies at the heart of Singapore’s efforts to tackle climate change, strengthen energy resilience and achieve a net-zero future. Prime Minister Lawrence Wong made that commitment a few years ago during Singapore International Energy Week. We will march towards net-zero in 25 years’ time, by 2050. You and I both know, as Singaporean companies, we will really put in place intermediate milestones to ensure we get there. Our approach focuses on two key priorities.

4.            First, we are expanding imports of low-carbon energy from the region. The ASEAN Power Grid embodies our shared vision of a connected and resilient regional energy system. You have probably heard about the LTMS, which is the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project. This pilot project shows that energy can indeed flow seamlessly across multiple borders, from Lao PDR first, then to Thailand, then to Malaysia and into Singapore. In fact, the Energy Market Authority (EMA) has within these few years granted Conditional Approvals and Conditional Licences for more than 8 gigawatts of potential import projects from regional partners.

5.            Second, we are also trying to maximise clean energy generation at home. While we continue to explore low-carbon solutions, solar energy remains our most viable renewable source.  Within a short span of time because of our collective efforts, especially SolarNova, which is the installation of solar panels on all our HDB rooftops, Singapore now has more than 1.7 gigawatt-peak of installed solar capacity. In fact, because of our collective efforts, we are on track to reach at least 2 gigawatt-peak before 2030.  To that end, let me pivot to Project SolaREV here. Because of what I have talked about, maximising our solar installation capacity, solar panels are being deployed on rooftops, even reservoirs, and increasingly, building facades. We are also piloting floating and building-integrated systems to make the best use of our limited space.

Project SolaREV’s Role in this Transition

6.            To sustain this progress, we must now work together to build capabilities that suit our dense, tropical environment. This includes improving how we deploy and maintain solar systems, investing in energy storage, and managing solar panels responsibly at the end of their life cycle.

7.            As solar deployment expands, more panels will need to be replaced with newer, more efficient models. This will lead to a growing volume of retired panels, both in Singapore and globally. For a land-scarce country like Singapore, sending more solar waste to Semakau Landfill is not a sustainable solution.

8.            Singapore enterprises play a vital role in developing solutions to these challenges and growing our clean energy and green economy together. I want to thank our colleagues here who have been supporting Redux for a long time. Project SolaREV demonstrates how our Singapore companies can collaborate to lead in building sustainable and scalable clean energy solutions. I am happy to see this project launch today because this project establishes Singapore’s first integrated solar panel recycling ecosystem. By combining capabilities in recovery, engineering, and verification, it enables the traceable recovery of materials such as glass, silver, and silicon from retired panels. In addition, it uses an automated process capable of handling higher volumes.

9.            These innovations will help companies lower life-cycle emissions, manage end-of-life solar panels more sustainably, and also reduce the amount of solar waste sent to the landfill. To me, it is win-win all around. These solutions can also contribute to Singapore’s national goal of reducing waste to landfill per capita per day by 30% in five years’ time – 2030. I think these are remarkable numbers. Project SolaREV shows how Singapore can, through this initiative, pursue clean energy while responsibly managing our resources, thereby strengthening both our climate and our circular economy efforts.

Supporting Enterprise Growth and Transformation

10.         As more solar projects accelerate across the region, this homegrown capability can certainly extend beyond Singapore to serve other markets. It is not just about powering the machine here, but also to allow other companies here to benefit from this, as well as potentially exporting these capabilities to other parts of the world, starting with this region.

11.         I want to use this platform to assure you that the MTI family and the Government will continue to support companies with the ambition and vision to transform and grow. Through our agencies, we offer programmes, funding, and partnerships to help companies expand capacity, deepen capabilities, and strengthen global connections. These efforts ensure that our Singapore companies remain competitive and ready to seize opportunities in the regional and international green economy.  

Conclusion

12.         My warmest congratulations again to Redux, EtaVolt and Vector Green on achieving your vision. These three companies coming together, complementing each other’s strengths, networks and knowledge, is really like a marriage. Today marks a wonderful milestone worth celebrating. Project SolaREV has attained an important milestone in building a circular, sustainable solar ecosystem for Singapore. We are proud of you.

13.         Your efforts boost our collective push for a clean, resilient, and competitive energy future – one that benefits our people here in Singapore, our Singapore companies, as well as our planet. I look forward to this project creating opportunities for our people to build fresh skills and promising careers in the green economy.

14.         I wish you continued success as you take Project SolaREV from launch to trailblazing new heights in sustainable solar innovation. Thank you.