The Singapore government is providing 22 million Singapore dollars (15 million U.S. dollars) to help companies defray the cost of purchasing energy efficient technologies and equipment.
The new incentive scheme named the Grant for Energy Efficient Technologies (GREET) was announced by Amy Khor, Senior Parliamentary Secretary at the Ministry for the Environment and Water Resources, on Thursday.
The National Environment Agency (NEA) said the fund will help companies achieve energy savings in the next five years. It will co-fund up to 50 percent of the qualifying costs of energy efficient equipment or technologies, or up to 2 million Singapore dollars per project, whichever is lower.
The agency will also set aside a portion of the fund for small and medium-sized enterprises (SMEs).
"Businesses often perceive the adoption of energy efficient technologies to be expensive and even risky. The GREET scheme will help address this concern and help the companies enjoy energy savings. Our objective is to improve the take-up rate for energy-efficient equipment or technologies in the industry sector, which currently accounts for 43 percent of the electricity consumption in Singapore," Chief Executive Officer of NEA Lee Yuen Hee said in a statement.
Source: Xinhua
|
Comment
Tell A Friend
Print Format
Save Article