Is Sembcorp launching a new energy storage system on Jurong Island?
As reported by Energy-Storage.news in June, Sembcorp is deploying the systems on Jurong Island, which is home to much of Singapore’s industrial activity and is being reinvented as an energy and chemicals industry hub for the future.
What is EFS & how does it work in Singapore?
Encourages Long-term Capability Building: By offering financing for activities like automation (via fixed asset loans), international expansion (project loans), and acquisition of other firms (M&A loans), EFS is aligned with Singapore’s broader push for companies to transform and upgrade. It nudges companies to invest in productivity and growth.
When will the support for domestic projects for construction enterprises be extended?
As announced at Budget , the support for domestic projects for construction enterprises will be extended until 31 March . The Enterprise Financing Scheme – Project Loan (EFS-PL) finances the fulfilment of secured overseas projects. The supportable loan types include:
What is accelerating energy storage for Singapore?
The Authority has in place a programme called Accelerating Energy Storage for Singapore (ACCESS) through which along with initiatives like the smart ports projects it launched an expression of interest (EOI) to build, own and operate 200MW/200MWh of BESS in the country in May.
What are the requirements for an EFS loan in Singapore?
Minimum Local Shareholding: At least 30% of the company’s ownership must be held by Singaporeans or Permanent Residents (either directly or indirectly). In other words, the enterprise should be locally owned to a significant extent. Business Size (SME Definition): For most EFS loan categories, the applicant should be an SME.
Who manages EFS-Green & Enterprise Financing Scheme (EFS-Green) in Singapore?
The Monetary Authority of Singapore (MAS) also supports related initiatives (for example, MAS launched a Green and Sustainability-Linked Loan Grant Scheme complementary to EFS-Green), but the EFS itself is chiefly managed by Enterprise Singapore. Enterprise Financing Scheme Program
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