Singapore strives to become renewable energy hub

Singapore is poised to become a hub for renewable energy projects for energy companies but Singapore may have to enact price caps legislation to attract producers to market their renewable energy fuel like biodiesel in the country itself. Currently, there is a boon of renewable energy projects either in place or occurring in the near future in Singapore. Neste Oil of Finland recently opened the world’s largest biodiesel fuel plant in Tuas. The firm uses palm oil, palm waste and waste animal fat as feedstock. Neste exports the biodiesel to its markets in Europe and North America. Other companies, such as Vestas of Denmark, a wind power firm and the solar energy Renewable Energy Corp. of Norway have also recently opened plants in Singapore. (March 19, 2011)