Virtual Power Purchase Agreements in Singapore

Rising pressure to move towards net-zero carbon emissions has resulted in an increasing number of large corporations entering into physical power purchase agreements (PPA) and/or virtual power purchase agreements (VPPA) for renewable energy.

In resource-scarce Singapore, solar energy remains the main source of locally generated renewable energy. Recently, Singapore unveiled one of the world’s largest floating solar panel farms, but due to Singapore’s land constraints, the majority of the solar photovoltaic systems are deployed on building rooftops. Under a PPA arrangement, a corporation with rooftop space enters into a long-term offtake agreement to purchase power from a solar generator at a pre-agreed price based on a specific delivery schedule. This arrangement is commonly referred to as “solar leasing” in Singapore since the project developer will typically lease the rooftop from the corporation to install solar panels.

However, PPAs are often not feasible when dealing with constraints like limited rooftop space or where energy demands are in excess of rooftop energy generation. In such situations, we have seen more corporations turn to VPPAs to meet their sustainability goals.

We set out below a brief overview on VPPAs, including some of the key issues that, in our experience, parties to a contract often encounter.

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选择适合您的新加坡移民路径

近年来,除了美国、加拿大、澳大利亚这些传统移民热门国家外,新加坡也成为了移民的热点目的地。良好的地理位置、稳定的政治环境、完善的基础建设、多元化的社会文化、优越的营商环境、丰富的医疗和教育资源、低犯罪率的社会治安以及各种税收激励机制等等的便利条件让这个位于赤道附近、常年平均气温处于20-35°C的花园城市,慢慢地成为人们心目中的移民“圣地”。

随着申请移民新加坡的人数不断增加,新加坡政府对于移民的门槛也随之提高,家族办公室的最低门槛更是从原来不成文的500万新币于今年4月18日一夜之间提升到了2,000万新币。那是不是就移民无望了呢?不!我们将为您盘点几种常见的新加坡移民途径。

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Rise of Renewable Energy Certificates (RECs) in Singapore

During the recent Budget announcement in February this year, Minister of Finance Lawrence Wong stated that Singapore will aim to achieve net-zero carbon emissions by or around 2050, in line with our commitment to address the challenges of climate change.

Presently, the bulk of Singapore’s energy supply comes from natural gas, and the power sector accounts for about 40 percent of the country’s total emissions. This paired with growing environmental awareness in Singapore have started putting pressure on organisations to meet clean energy goals as investors and customers become more vocal about the importance of using green energy. This growing pressure from stakeholders has led to a rise in the use of Renewable Energy Certificates (RECs) by businesses, as a means of fulfilling their sustainability commitments and reducing their carbon footprint.

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区块链技术和NFT在新加坡的发展和规范

自2008年第一个数字货币比特币诞生以来,区块链技术在各个领域的应用都有了长足的发展。新加坡作为亚洲金融中心之一,也吸引了众多软件技术人员和投资者从事区块链技术相关的金融行业,包括NFT (非同质化代币)。NFT 市场既可以是Axie Infinity这种可以赚取数字资产的游戏平台,也可以是NBA TopShot 这种收藏品交易平台,还可以是Decentraland 和Earth 2这种可以进行数字财产买卖的元宇宙平台。

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An Overview on Development and Regulations of Blockchain Technology and NFTs in Singapore

Since the birth of the first digital currency, Bitcoin, in 2008, blockchain technology has developed significantly in various fields. As one of the financial hubs of Asia, Singapore has also attracted a wide range of software professionals and investors in the financial services industry involving blockchain technologies and nonfungible tokens (NFT). NFT marketplaces can be either gaming platforms for earning digital assets like Axie Infinity, collectibles trading platforms like NBA TopShot or metaverse platforms like Decentraland and Earth 2 where virtual properties can be bought and sold.

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新加坡家办门槛提高——深度解析金管局新政的底层逻辑

这几天,全网都在疯传下面这张图。不可否认最近移民突然成了热门话题!

4月11日,我们收到了新加坡金管局一封邮件,内容是关于新加坡家办13O/U计划的门槛大幅提高。大概就是图中戴教授所指的消息了。但是戴教授的表述不太严谨,新加坡家办免税计划并不是投资移民,实际上新加坡的投资移民难度远高于此。

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MAS amends Sections 13O & 13U Application Guidelines for Family Offices in Singapore

MAS Amends Sections 13O and 13U Application Guidelines for Family Offices in Singapore

The Monetary Authority of Singapore (MAS) has amended its requirements for family offices[1] applying for tax incentive schemes pursuant to Sections 13O and 13U of the Income Tax Act 1947 (the Act). The following amended policies apply to all first preliminary submissions received by MAS on or after 18 April 2022 for these schemes, and MAS may require applications that have received no communication from MAS for a span of at least six months to be resubmitted under the amended guidelines. The following applications are not subject to the amended policies:

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COVID-19 Updates for Singapore Employers: Cost Reduction, Mandatory Notifications, and Government Support from the Fortitude Budget

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Following the end of the circuit breaker period on 1 June 2020, Singapore is implementing a gradual resumption of business. During this period, employers are likely to continue to have concerns over cost-saving and business continuity measures and the government support available to them.

 

Since our previous article, there have been a number of updates and advisories from the Ministry of Manpower (MOM) providing additional guidance to employers during the circuit breaker period and beyond. Shortly before the end of the circuit breaker period, the Singapore government had also presented the Fortitude Budget on 26 May 2020, which includes, among other things, additional support for employers.

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Reopening the Workplace During the COVID-19 Pandemic: What Employers Need to Know

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Singapore’s circuit breaker period came to an end on 2 June 2020 with the government introducing a three-phased approach for transitioning into a “new normal” and resuming economic activities safely.

With certain businesses reopening, the government is encouraging continued vigilance through a mix of statutory obligations as well as guidelines from the various government ministries. In terms of statutory obligations, the updated COVID-19 (Temporary Measures) (Control Order) Regulations 2020 includes specific obligations for employers, among others, to institute safe practices in the workplace. In terms of guidelines, the Ministry of Manpower has issued certain Safe Management Measures for general workplace settings and sector-specific guidelines for specific workplace settings.

This article aims to educate and provide guidance to employers operating post-circuit breaker on the requirements which may be relevant to them.

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The opinions expressed on this blog are those of the author and are not to be construed as legal advice.

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