18 firms off to Germany to seek solar energy deals

Jessica Cheam, Straits Times 25 May 09;

THE global solar industry has grown at a phenomenal rate in recent years - and Singapore wants a bigger piece of the pie.

A group of 18 local firms, led by IE Singapore, left for Germany yesterday on the Republic's 'first business mission for green technology'.

The 27-strong delegation will visit Germany's famed 'solar capital', Freiburg, to look for opportunities in solar manufacturing.

Germany is the market leader in solar technology, with a market share of over 35 per cent last year and a revenue that grew from ¥450 million (S$904 million) in 2000 to ¥4.9 billion in just six years.

IE Singapore cited figures that showed the global solar photovoltaic industry growing at a compounded annual rate of 42.62 per cent since 2001.

This comes as volatile oil prices are making green technologies, particularly solar, an increasingly viable energy source.

The six-day trip will enable the Singapore delegates to learn about the viability of solar energy, its value chain, manufacturing processes, and cutting-edge research and development work.

They will visit leading solar firms such as Solar Fabrik and participate in Intersolar, the world's largest solar technology trade fair in Munich.

New opportunities for local firms in the semiconductor value chain have emerged due to the similarity between the semiconductor and solar industries, said IE Singapore's director of technology business, Mr Thian Tai Chew.

Separately, IE Singapore announced yesterday it would be organising the Global-Asia Trade Exchange 09 - Aerospace set to be held on Wednesday and Thursday at the Singapore Expo.