(EnergyAsia, October 20 2014, Monday) — PacificLight Power Pte Ltd (PLP) said it has secured Singapore’s largest project to earn carbon emissions credits following the registration of its S$1.2 billion power plant under the UN’s clean development mechanism to fight climate change. (US$1=S$1.27).

The company owns and operates the 800MW state-of-the-art combined cycle gas turbine (CCGT) power plant on Jurong Island, Singapore’s oil and petrochemicals hub. It is the country’s first power plant to be fuelled entirely by liquefied natural gas (LNG).

As a registrant, PLP is eligible to earn the equivalent of one certified emission reduction (CER) credit for every tonne of carbon dioxide reduced. The credits can be traded and used by industrialised countries to meet a part of their emission reduction targets under the Kyoto Protocol.

PLP said its application was supported by Singapore’s National Environment Agency (NEA) which granted the project’s approval letter in April 2013. The NEA, the designated national authority to process CDM applications, has approved five to date including PLP’s.

“The successful registration of our $1.2 billion power plant as a CDM project activity bears testament to our high efficiency level and our commitment to the environment,” said PLP CEO Yu Tat Ming.

“As we strive to become the preferred electricity retailer in Singapore, we remain mindful that one of our core company values is social responsibility. The team at PLP recognises the importance of using resources wisely in the environment in which we operate and that maximising our efficiency also benefits our consumers by reducing energy costs.”

PLP said its plant features the latest F-class efficiency-boosting gas turbines from Siemens designed to comply with stringent international emissions standards, making it one of the most efficient and flexible power plants operating in the region.

PacificLight Power Pte Ltd is 70% owned by FPM Power Holdings Ltd, a joint venture between two Philippine firms, and PETRONAS Power Sdn Bhd, a subsidiary of Malaysia’s state energy firm Petronas. FPM Power Holdings Ltd is a 60:40 joint venture between First Pacific Company Ltd and MERALCO PowerGen Corporation respectively.