HomeWorld RegionsAsiaInvestment firm opens in Singapore to drive sustainable cities

Investment firm opens in Singapore to drive sustainable cities

Urban Renewables, the first investment company in Asia-Pacific to focus solely on sustainable energy solutions in urban areas, has launched its subsidiary in Singapore.

Urban Renewables will support Singapore’s journey in becoming a more sustainable and climate-resilient city through developing and investing in innovative energy solutions.

The company was established to make cities more sustainable and to provide communities with the opportunity to participate in renewable energy projects in their own cities.

It is also preparing to launch in Melbourne and Kuala Lumpur.

Countries are becoming increasingly urbanised and it is projected that approximately. 68% of the global population (approx. 6.7 billion people) will live in urban areas by 2050.

Related articles;
Investments needed in forecasting data to expand Japan’s solar market
Climate targets unattainable without ‘new dawn’ for carbon capture – IEA

The already evident climate impacts will only accelerate and being on the frontlines of this global crisis, cities are urged to be integral to its solutions.

Singapore’s sustainability drive began at the point of its inception. In the early years of independence, the city-state’s founding Prime Minister Lee Kuan Yew, made a clean and green Singapore the cornerstone of his government policies.

Today, Singapore has put sustainability back on the national agenda. Prime Minister Lee Hsien Loong went to great lengths to highlight national measures addressing climate change in his National Day Rally speech for the first time, last year.

The government has committed to phase out fossil fuel-powered cars by 2040 and achieve net-zero emissions as soon as viable in the second half of the century.

Edgare Kerkwijk, the co-founder of Urban Renewables, said setting up in Singapore “is a key step for our company. Covid-19 has disrupted the global economy and upended life as we know it.

“In these unprecedented times, competent leadership in energy transition has never been more critical, and this requires a deep understanding of sustainability issues with urban areas. We will actively support the development of energy solutions, such as, energy efficiency, solar rooftops and energy storage in Singapore.”

Ms. Suen Bohn, head of the group’s business development, added that “the challenge of the energy transition can only be tackled through global sharing of expertise and experiences”.

“Our forward-thinking model allows cities to maximize their enormous potential of using local sustainable resources and become part of the global efforts to create sustainability in communities.”