Electric Power, Energy Transition, Renewables, Emissions
October 28, 2026
Singapore tightens renewable energy rules to address greenwashing risks
Editor:
HIGHLIGHTS
Singapore updates standard to prevent greenwashing
RECs must link to grid-delivered electricity
Solar certificate prices surge amid new rules
Singapore has strengthened rules around renewable electricity claims and address greenwashing risks, while also launching new efforts to "harness solar energy wherever we can," Minister of State for Trade and Industry Gan Siow Huang said Oct. 27.
Speaking at the Asia Clean Energy Summit in Singapore, Gan said the revised Singapore Standard 673: Code of Practice for Renewable Energy Certificates, requires claims to be supported by certificates linked to power physically delivered to Singapore's grid, either through domestic generation or imports.
RECs are environmental market instruments used to verify green electricity use and help companies meet sustainability targets.
Gan said RECs from overseas renewable energy projects that do not supply electricity to Singapore can still be purchased to support renewable energy development and regional decarbonization efforts. However, they should not be used to support claims of renewable electricity use in Singapore.
"The updated SS673 will strengthen trust in corporate sustainability reporting and reduce the risk of greenwashing concerns," she said.
Separately, the Energy Market Authority said Oct. 27 that it had awarded S$14.9 million ($11 million) in grants to four industry projects aimed at strengthening grid resilience and maintaining reliable power supplies as energy sources and demand become more diverse.
A generator had offered S$31/MWh for 2,000 MWh of vintage 2026 solar I-RECs, but suppliers were now withholding inventory as bids increased, a Singapore-based trader said.
"Generators are no longer offering at S$31/MWh. The last level I heard was S$40/MWh," the trader said.
During the Oct. 28 session, several offers were heard for vintage 2026 solar I-RECs at S$40/MWh from multiple market participants.
Platts, part of S&P Global Energy, assessed back-half vintage 2025 solar I-RECs at S$18/MWh, up S$5 day over day, while vintage 2026 solar I-RECs were assessed at S$31/MWh, up S$2 from the previous session on Oct. 28.
