Speech by Minister for Trade and Industry (Energy and Industry) Dr Tan See Leng at the Groundbreaking Ceremony of PacificLight Power’s 670MW Power Plant

Mr Yu Tat Ming, Chief Executive Officer of PacificLight Power

2. I am pleased to join you today in Jurong Island for the groundbreaking of PacificLight's new 670MW Combined Cycle Gas Turbine, or CCGT, power plant.

3. Let me congratulate PacificLight, Mitsubishi Power, Jurong Engineering, and all of your partners on this very important milestone.

4. This project represents a significant investment of S$1.2 billion for Singapore's power sector, and it comes at an important time for Singapore’s energy sector. As our economy evolves and our energy needs continue to grow, we must ensure that our energy system remains reliable, capable of supporting future demand and ready for the transition to a lower-carbon future.

5. In fact, I just rushed here from the grand opening of the VisionPower Semiconductor Manufacturing Company in Tampines. It took me about an hour to come from the northeast of Singapore to the southwest of Singapore. And I can tell you that they built the plant with an amazing speed, in under 22 months. They started to roll out the wafers, and they want to plant more. In fact, they have shared that we are at the cusp of a huge super cycle in semiconductors. So I think this planting could not have been more timely. Thank you very much and congratulations once again to PacificLight Power.

6. Our power generation companies are critical partners in this journey with us. Singapore's peak electricity demand is projected to grow at a faster pace in the coming years, driven by advanced manufacturing, the digital economy, the rapid rise of AI and transport electrification. This is not unique to Singapore. Around the world, countries are racing to secure the energy capacity needed to power this next wave of economic growth.