Gel battery storage project financing options in Singapore 2026

Can a battery energy storage system improve business operations in Singapore?

The push for cleaner energy in business operations is already showing results in Singapore. Battery Energy Storage Systems have been piloted and adopted by forward-looking firms, demonstrating the kind of outcomes the EEG is designed to encourage.

Can Singapore be a green financing hub?

We encourage companies to leverage Singapore’s strengths as a green financing hub to tap on the wide range of world-class financial institutions here, such as UOB and Clifford Capital to support investments into renewables.

Is battery storage a good investment?

Battery storage has less of a track record than other renewable energy assets such as solar and wind power. The lack of comfort on the part of lenders has meant that the project financing packages available have been generally unappealing, with low gearing and onerous covenants.

Why is Singapore a good place to invest in renewables?

Finally, Singapore has built up a vibrant ecosystem of companies across the value chain ranging from clean energy solution providers, project and legal advisories and financiers that can support the development and execution of renewables projects in the region.

Why is project finance difficult for energy storage?

It has traditionally been difficult to secure project finance for energy storage for two key reasons. Firstly, the nascent nature of energy storage technology means that fixed income lenders and senior debt providers are naturally risk averse.

Should batteries be optimised in the balancing mechanism?

Lloyd adds that the big question is now ensuring that batteries “are optimised well enough” in the Balancing Mechanism, the National Grid ESO’s primary tool for balancing supply and demand on Great Britain’s electricity network.