KEPPEL Offshore & Marine (Keppel O&M) and Singapore's Energy Market Authority (EMA) have started a S$10 million partnership to help create innovative energy solutions in the marine sector.
The company and the statutory board are looking to encourage the adoption of cleaner energy and greater environmental sustainability, they said in a joint statement on Wednesday.
Keppel O&M and EMA inked a memorandum of understanding (MOU) to develop solutions in the areas of distributed energy resources, digitalisation and emerging low-carbon alternatives.
As part of this MOU, they have launched a grant call for solutions relating to energy storage systems and smart power grids for the offshore and marine environment.
These solutions should seek to reduce overall energy use and carbon footprint while improving overall operational efficiency.
"The grant call serves to encourage innovation and capability-building for the wider industry ecosystem in Singapore," EMA and Keppel O&M said.
The insights derived from the grant call could be translated to potential solutions to enhance the grid, they added.
The call is open for applications at ema.gov.sg/ema-keppel-partnership.aspx and will close at noon on June 24.
Companies, research institutes and institutes of higher learning are welcome to participate.
EMA chief executive officer (CEO) Ngiam Shih Chun said: "We are seeking solutions that incorporate the use of cleaner energy, optimise energy consumption and reduce carbon emissions."
Keppel O&M CEO Chris Ong said that under the partnership with EMA, the digitalisation and use of data analytics will reduce energy waste and increase the use of cleaner energy.
"The insights gleaned can also help us develop integrated solutions across the Keppel group for sustainable urbanisation," he added.
Shortlisted applicants from the grant call can test their solutions using the Floating Living Lab, Keppel O&M's offshore floating test bed in Singapore which is expected to be operational by end-2021.
It will house liquefied natural gas (LNG) bunkering facilities for harbour crafts and small vessels, and provide a platform for the industry and research community to test and commercialise promising power and technology solutions for the marine sector. In turn, the clean floating energy solutions will help Keppel O&M reduce its carbon footprint.
An embedded power generation system at the Floating Living Lab will also power Keppel O&M's operations at its yards in Singapore, with excess electricity to be exported to the national grid.
The Floating Living Lab enables Keppel O&M to support customers in delivering cleaner power, grow its LNG bunkering services, improve the efficiency of the current supply chain and extend its gas offerings in the floating power segment, Mr Ong said.
Shares of Keppel O&M's parent Keppel Corp fell S$0.01 or 0.2 per cent to trade at S$5.66 as at 1.11pm on Wednesday.