History of CEPO
Around the world, governments are stepping up efforts to grow their clean technology capabilities in order to address climate change and reduce reliance on fossil fuel sources. In Singapore, cleantech was identified as a key economic growth area by the government as early as 2007. Today, the city-state is aiming to develop the sector so that it contributes S$3.4 billion to Singapore’s gross domestic product (GDP) and provides 18,000 jobs by 2015.
As the leading clean energy hub for the region, Singapore is a prime location for major solar companies such as Phoenix Solar, Renewable Energy Corporation (REC), Trina Solar and Yingli, who are tapping its competitive advantages to develop innovative solutions that will propel their growth in the Asian market. Singapore also plays host to a range of key wind technology players, such as, Keppel and Vestas.
Singapore’s strengths in manufacturing sectors such as electronics, precision engineering and chemicals, connectivity with regional markets, access to skilled international talent, and extensive supplier base put it in good stead to add value to such businesses.
A world-class intellectual property regime is another major benefit for companies which rely on innovation activities as a growth driver.
The city-state also welcomes cleantech companies to use Singapore as a ‘Living Lab’ to trial and demonstrate innovative solutions before scaling up for the rest of the world.