Singapore has set out to expand its network with the global offshore wind sector and foster more project and innovation opportunities between the Lion City and international players in this space. Enterprise Singapore, the Association of Singapore Marine & Offshore Energy Industries (ASMI) and the Global Wind Energy Council (GWEC) have signed a memorandum of understanding to collaborate in joint initiatives that include policy dialogues and joint publications to address regulatory challenges, facilitate project structuring and financing, explore regional collaboration and adoption of best practices. The deal also covers network building and knowledge exchange, via events for matchmaking and knowledge transfer among industry stakeholders to catalyse market access for Singapore companies wishing to test and develop new offshore wind solutions. These events should allow Singapore companies to understand global market trends and needs quicker, as well as partner with international stakeholders to codevelop new solutions more effectively. Another part of the agreement is focused on capacity-building programmes, workshops and training sessions to enhance the capabilities of Singaporean companies and boost the talent pipeline in the offshore wind sector. The activities will be rolled out over the next two years and are expected to benefit about 100 Singapore enterprises and 150 GWEC members in the offshore wind sector. The agreement is part of Singapore’s commitment earlier this year to invest and explore growth opportunities in the global offshore wind sector, which is expected to expand at a compound annual growth rate of more than 20% until 2030 and be worth $126bn per annum by 2030. “Enterprise Singapore is committed to enable Singapore companies to tap on green growth opportunities like offshore wind, to grow our economy and create good jobs. The MOU with ASMI and GWEC will seek to accelerate that effort by taking advantage of Singapore’s growing offshore wind ecosystem, and leverage our joint capabilities, networks and resources to boost international collaboration and technology development for Singapore and global offshore wind players,” said Johnny Teo, assistant managing director at Enterprise Singapore. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsSingapore