Minister touts lower tariffs, economic benefits for new solar project

The Large-Scale Solar Project Round Three (LSS3) is expected to produce cheaper electricity compared to its previous iteration LSS2, said Energy, Science, Technology, Environment, and Climate Change Minister Yeo Bee Yin.

Whereas electricity tariff for LSS2 is 33.98 sen per kilowatt-hour, she said the government is confident that the LSS3 project would have even cheaper tariff due to several improvements to the bidding specification.

In addition, she said renewable energy such as solar power is not subject to the volatility in fuel prices that affect tariffs for energy from fossil fuel sources. Instead, the tariff is stable throughout a project’s lifetime...