A tidal-energy demonstration off the grid* of Singapore will start generating power for the first time in South East Asia.
NYK is participating in this demonstration project, which is being conducted by Bluenergy Solutions, a marine renewable energy solution provider, off Raffles Lighthouse on Satumu Island, about 14 kilometers from the main island of Singapore.
The project aims to commercialize the generation and supply of electricity from tidal energy, thereby contributing to the early realization of a decarbonized society.
Tidal energy uses tidal currents, which are stable in volume and direction throughout the year, making them an extremely efficient renewable energy source, featuring a generated amount of power, that is easy to predict. In order to contribute to the early realization of a decarbonized society by using ocean energy, NYK will evaluate the power generation efficiency, the cost of power generation, and storage with project members.
NYK launched its NYK GREEN EARTH** ESG brand in April 2022. By utilizing the knowledge gained from this tidal energy demonstration project and working on the commercialization of marine renewable energy, we aim to establish a new energy value chain and achieve sustainable development and growth for the company and society.
On March 10, 2023, the NYK Group released its medium-term management plan “Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing.”
The NYK Group is promoting growth strategies with ESG at the core, based on the Group’s basic philosophy of “Bringing value to life” and a new corporate vision for 2030, which reads, “we go beyond the scope of a comprehensive global logistics enterprise to co-create value required for the future by advancing our core business and growing new ones.”
Source: Hellenic Shipping News
