Speech by Prime Minister Lee Hsien Loong at the Opening of Renewable Energy Corporation’s Integrated Solar Manufacturing Complex

Ms Janne Julsrud
Norway’s Ambassador to Singapore

Mr Ole Enger
President and CEO, Renewable Energy Corporation

Distinguished Guests

Ladies and Gentlemen

1. Congratulate Renewable Energy Corporation (REC) on grand opening of the integrated solar manufacturing facility

a) This is one of the largest ever investments in Singapore

b) REC has to date invested S$2.5 billion in Phase I of the project

c) When fully operational, plant and onsite suppliers will provide 1,700 high quality jobs

Singapore’s Clean Energy Strategy
2. REC’s new complex is a key piece in Singapore’s Clean Energy strategy

a) We identified clean energy as a major growth area for our economy in 2007

b) Although there is not yet a global deal on climate change, many countries worldwide are studying various clean energy options

c) In fact efforts to tackle climate change will span decades

d) We can position ourselves for this long term development, contributing to global energy solutions while tapping the economic spinoffs

3. Singapore has developed a blueprint to grow the Clean Energy industry

a) Attract high-value, capital intensive investments in manufacturing

b) Develop the base of equipment companies and other suppliers

c) Build up strong R&D and support technological innovation
i. We launched the Solar Energy Research Institute of Singapore (SERIS) in 2008
ii. It has embarked on research projects with leading industry players including REC

d) Grow Singapore into the leading Asian Hub for system integration and project development

e) Government is committing $350 million to support efforts in this sector

4. Clean Energy blueprint follows a cluster strategy

a) Singapore has developed world-class industries by clustering companies with complementary strengths

b) We are applying this model to the clean energy sector

c) Our cluster strategy is no secret. In fact many others try to adopt it too

d) Hence critical for us to play to our strengths
i. e.g. we are going into solar energy as it leverages on our existing strengths in electronics

Investing in Our Workforce
5. But our most critical strength is the Singapore worker

a) Underpins our competitiveness

b) Major reason why many companies, particularly high-tech, knowledge-intensive companies, choose to locate in Singapore

c) In fact, REC told us the key reason they chose Singapore is our highly skilled and motivated workforce at all levels – managers, engineers, technicians and operators

d) Our workers have not disappointed
i. Singapore facility was completed under budget and ramped up ahead of schedule, exceeding parent company’s expectations
ii. Plant is now best-in-class among REC’s global operations
iii. REC’s Peak Energy Module manufactured in Singapore was recently awarded the Solar Industry Award in Europe

e) Congratulate the entire REC team for their remarkable achievements within a short period of operations

6. We must work hard to maintain this advantage

a) Skills, innovation and productivity are our basis for sustaining economic growth
b) Government is putting in billions of dollars into Continuing Education and Training
c) Encourage workers to attend courses and upgrade their skills

7. We will continue to develop manpower for the Clean Energy industry
a) Postgraduate scholarships to top universities

b) Clean Energy diploma courses in our polytechnics

c) Continuing Education and Training programmes conducted by the Workforce Development Agency (WDA)

d) In total, we will train over 2,000 specialists in the next 5 years through these initiatives

Conclusion
8. REC’s opening today marks a milestone in the development of the clean energy sector in Singapore

a) Confident that sector will see strong growth

b) Singapore will work with clean energy companies to seize these opportunities

c) Wish REC success in this and future ventures

Source: Economic Development Board