<p>随着电力需求的加速增长，受到工业发展、城市化和电气化扩展的推动，能源系统正面临越来越大的压力。</p>
<p>与此同时，各国正在增加清洁能源以减少排放并履行气候承诺。能源转型已进入一个更复杂的阶段，进展不仅依赖于扩大低碳能力，还依赖于在实际系统约束内保持电力的可靠性、安全性和可负担性。转型的初始阶段专注于快速和大规模地部署可再生能源。这种方法带来了快速的产能增长，但随着可变发电的增加，也暴露出新的挑战。</p>
<p>间歇性、电网限制和不断增加的成本压力正在考验系统的韧性，焦点从增加产能转向管理电力系统的日常运行。随着能源转型进入一个要求更高的阶段，可靠的执行已成为关键差异化因素。在胜科工业，我们的气候行动计划将气候雄心与政府、企业和社区的实际需求相结合。</p>
<p>在可再生能源、基础设施建设和可靠供应方面的投资支持经济增长，同时增强我们市场的能源安全。<strong>亚洲在全球能源增长中的中心地位</strong></p>
<p>在亚洲，平衡清洁能源与可靠安全的供应尤其具有挑战性。</p>
<p>预计到 2030 年，该地区将占全球电力需求增长的近 80%，这主要是由于经济快速发展和工业扩张。</p>
<h3>在新的全球秩序中导航亚洲</h3>
<p>获取洞察信息，直接发送到您的邮箱。</p>
<p>电气化的增加，加上数据中心、高级制造和半导体的增长，正在重塑电力需求，并强调系统的可靠性。同时，亚洲的能源转型在高度差异化的市场中展开。各国以不同的速度追求净零目标，这受到资源禀赋、政策框架、制度能力和融资渠道的影响。</p>
<p>对于许多新兴经济体而言，确保可靠的能源获取仍然是根本。因此，亚洲的能源格局既多样又复杂。实现转型目标将需要反映当地市场条件的方法，而不是统一的解决方案。</p>
<p>每个国家的进展将取决于部署能够在不同监管、基础设施和需求环境中运作的技术和商业模式。<strong>应对能源三重困境</strong></p>
<p>另见</p>
<p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/9e0cf32f2a5048fe7e3dcc9a75d2a163bbb26a1bda70693141900a50c3d3035e/query-dz0yNDAGZHByPTEGZj13ZWJw?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/9e0cf32f2a5048fe7e3dcc9a75d2a163bbb26a1bda70693141900a50c3d3035e/query-dz0yNDAGZHByPTEGZj13ZWJw"/></p>
<h3>建设亚洲的低碳工业未来</h3>
<p>市场之间的这些差异使得能源三重困境更加明显，各国努力在能源安全、可获取性和可持续性之间取得平衡。</p>
<p>随着可再生能源的部署增加，必须积极管理间歇性，以保持系统的可靠性。这使得能源存储、电网基础设施和系统灵活性的重要性与发电能力本身同样关键。</p>
<p>在转型的这一阶段，能源安全根本上是关于系统韧性——在不断增加的可变条件下提供可靠电力的能力，同时平衡可持续性和可获取性。</p>
<p><strong>能源三重困境</strong></p>
<p>能源三重困境突显了在电力系统演变过程中平衡能源安全、可持续性和公平性的挑战。</p>
<p>强有力的政策和监管框架同样重要。它们提供了动员大规模投资所需的长期确定性，使得多样化的能源组合能够增强系统韧性，并帮助各国在安全性、可负担性和可持续性之间取得平衡。</p>
<p>没有稳定的框架，投资和部署可能在市场之间变得支离破碎，削弱市场信心并破坏能源安全。在这种背景下，能源公司在将雄心转化为可靠成果方面发挥着关键作用。应对能源三重困境需要在系统和市场约束内有效的解决方案。</p>
<p>在过去五年中，我们重塑了我们的投资组合以支持这一转型。我们的可再生能源总装机容量已扩大超过六倍，从约 3.2 吉瓦增长到今天的超过 20 吉瓦，涵盖太阳能、风能、水电和能源存储。随着可再生能源的不断部署，系统稳定性变得至关重要。在我们许多市场中，天然气在确保可靠和可负担的电力供应方面发挥着重要作用。</p>
<p>这反映了一个务实的转型需求，承认当前的系统约束，即使我们在投资能够补充可再生能源并逐步减少排放的技术。<strong>基于系统现实的目标</strong></p>
<p>气候行动计划反映了全球能源转型的不断变化的现实，特别是电力需求的上升以及平衡能源安全、可获取性和可持续性的必要性。在提议收购 Alinta Energy 后，胜科工业的报告排放预计在短期内会增加，一旦我们将 Alinta Energy 的投资组合纳入其中，随后会逐渐减少。</p>
<p>因此，我们预计无法达到 2028 年设定的排放强度目标和 2030 年设定的绝对排放目标，并已将我们的排放强度目标更新为到 2035 年达到 0.26tCO₂e/MWh。</p>
<p>这反映了扩大投资组合的规模和组成，包括在可再生能力持续扩大的情况下，可靠的基础负荷和可调度能力在维持系统可靠性和能源安全方面的持续作用。</p>
<p>认识到通往净零的步伐和路径取决于每个国家的能力、约束和当地现实，我们采用了特定国家的视角来规划我们的转型。</p>
<p>国家级排放轨迹根据胜科的国家曝光度进行加权，并汇总以得出集团的整体转型路径。</p>
<p><strong>多方面的转型</strong> 实现负责任的转型需要在多个领域采取行动，例如电网基础设施和系统运营，以及各方之间的协调。</p>
<p>电力系统必须在满足不断增长的需求、保持可靠性和确保能源安全的同时实现脱碳。这意味着要解决能源的存储、管理和与现有系统的整合，以及新技术能够大规模部署的速度。我们专注于能够做出最有意义贡献的领域。这些领域包括扩大可再生能源和能源存储，通过优化和资本回收管理和减少我们现有投资组合的排放，以及投资新兴的低碳解决方案。新技术将发挥越来越重要的作用。我们正在投资于绿色氢气、生物甲烷和固体氧化物燃料电池等领域。</p>
<p>我们位于裕廊岛的 600MW 氢气就绪联合循环发电厂计划于 2026 年投入运营，展示了如何将近期的效率提升与未来就绪的基础设施相结合，以支持脱碳。</p>
<p><strong>包容性的转型与共同进步</strong> 负责任的能源转型也必须为人们和社区服务。通过我们的社区投资，我们旨在改善对清洁能源的获取。自 2022 年以来，我们已支持在我们的市场中对 110 多个社区设施进行太阳能化改造。</p>
<p>与此同时，我们通过在合作伙伴组织中提供太阳能相关培训来增强当地能力，而胜科 “为善能源基金” 等倡议则支持慈善领域的脱碳努力。</p>
<p><strong>促进有意义的能源转型</strong> 亚洲的能源转型将在塑造全球脱碳成果方面发挥决定性作用。快速的需求增长和多样化的国家情况进一步强调了需要务实、包容和有效执行的方法。最终，负责任的能源转型在雄心与执行、合作以及提供可靠成果的纪律相匹配时才能成功。</p>
<p><strong>作者是胜科集团可持续发展负责人</strong></p>
<p>解码亚洲通讯：您在新全球秩序中导航亚洲的指南。点击此处注册以获取解码亚洲通讯，直接送达您的邮箱，免费。</p>

胜科工业

<p>胜科工业强调在能源转型中平衡能源安全、可及性和可持续性的重要性，特别是在预计将推动显著电力需求增长的亚洲。该公司的气候行动计划旨在将气候目标与实际需求对齐，重点关注可靠的执行和系统韧性。随着可再生能源的部署增加，管理间歇性和确保可靠的电力供应变得至关重要。胜科工业显著扩大了其可再生能源产能，但由于收购 Alinta Energy，预计排放量会暂时上升，因此相应调整了其排放目标</p>

<p>AS ELECTRICITY demand accelerates, driven by industrial growth, urbanisation and expanding electrification, energy systems are under increasing strain.</p>
<div class="lb-trans"><p>随着电力需求的加速增长，受到工业发展、城市化和电气化扩展的推动，能源系统正面临越来越大的压力。</p>
</div><p>At the same time, countries are adding cleaner power to cut emissions and meet climate commitments. The energy transition has since entered a more complex phase, where progress depends not only on scaling low-carbon capacity, but on keeping power reliable, secure and affordable within real system constraints. The initial phase of the transition focused on deploying renewable energy at speed and scale. That approach delivered rapid capacity growth, but it has also exposed new challenges as variable generation increases.</p>
<div class="lb-trans"><p>与此同时，各国正在增加清洁能源以减少排放并履行气候承诺。能源转型已进入一个更复杂的阶段，进展不仅依赖于扩大低碳能力，还依赖于在实际系统约束内保持电力的可靠性、安全性和可负担性。转型的初始阶段专注于快速和大规模地部署可再生能源。这种方法带来了快速的产能增长，但随着可变发电的增加，也暴露出新的挑战。</p>
</div><p>Intermittency, grid limitations and increasing cost pressures are testing system resilience, shifting the focus from adding capacity to managing how power systems operate day to day. As the energy transition enters a demanding phase, reliable execution has become the differentiator. At Sembcorp, our Climate Action Plan aligns climate ambition with the practical needs of governments, businesses and communities.</p>
<div class="lb-trans"><p>间歇性、电网限制和不断增加的成本压力正在考验系统的韧性，焦点从增加产能转向管理电力系统的日常运行。随着能源转型进入一个要求更高的阶段，可靠的执行已成为关键差异化因素。在胜科工业，我们的气候行动计划将气候雄心与政府、企业和社区的实际需求相结合。</p>
</div><p>Investments across renewables, enabling infrastructure and reliable supply support economic growth while strengthening energy security across our markets. <strong>Asia at the centre of global energy growth</strong></p>
<div class="lb-trans"><p>在可再生能源、基础设施建设和可靠供应方面的投资支持经济增长，同时增强我们市场的能源安全。<strong>亚洲在全球能源增长中的中心地位</strong></p>
</div><p>Balancing cleaner energy with reliable and secure supply is especially challenging in Asia.</p>
<div class="lb-trans"><p>在亚洲，平衡清洁能源与可靠安全的供应尤其具有挑战性。</p>
</div><p>The region is expected to account for nearly 80 per cent of global electricity demand growth through 2030, driven by rapid economic development and industrial expansion.</p>
<div class="lb-trans"><p>预计到 2030 年，该地区将占全球电力需求增长的近 80%，这主要是由于经济快速发展和工业扩张。</p>
</div><h3>Navigate Asia in  a new global order</h3>
<div class="lb-trans"><h3>在新的全球秩序中导航亚洲</h3>
</div><p>Get the insights delivered to your inbox.</p>
<div class="lb-trans"><p>获取洞察信息，直接发送到您的邮箱。</p>
</div><p>Increased electrification, alongside growth in data centres, advanced manufacturing and semiconductors, is reshaping power demand and placing emphasis on system reliability. At the same time, Asia’s energy transition is unfolding across highly differentiated markets. Countries are pursuing net-zero ambitions at varying speeds, shaped by resource endowments, policy frameworks, institutional capacity and access to financing.</p>
<div class="lb-trans"><p>电气化的增加，加上数据中心、高级制造和半导体的增长，正在重塑电力需求，并强调系统的可靠性。同时，亚洲的能源转型在高度差异化的市场中展开。各国以不同的速度追求净零目标，这受到资源禀赋、政策框架、制度能力和融资渠道的影响。</p>
</div><p>For many emerging economies, ensuring reliable access to energy remains fundamental. As a result, Asia’s energy landscape is both diverse and complex. Meeting transition objectives will require approaches that reflect local market conditions rather than uniform solutions.</p>
<div class="lb-trans"><p>对于许多新兴经济体而言，确保可靠的能源获取仍然是根本。因此，亚洲的能源格局既多样又复杂。实现转型目标将需要反映当地市场条件的方法，而不是统一的解决方案。</p>
</div><p>Each country’s progress will depend on deploying technologies and business models that can operate across different regulatory, infrastructure and demand environments. <strong>Navigating the energy trilemma</strong></p>
<div class="lb-trans"><p>每个国家的进展将取决于部署能够在不同监管、基础设施和需求环境中运作的技术和商业模式。<strong>应对能源三重困境</strong></p>
</div><p>SEE ALSO</p>
<div class="lb-trans"><p>另见</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://cassette.sphdigital.com.sg/image/businesstimes/9e0cf32f2a5048fe7e3dcc9a75d2a163bbb26a1bda70693141900a50c3d3035e/query-ZHByPTEmZj13ZWJwJnc9MjQw" alt="" original-src="https://cassette.sphdigital.com.sg/image/businesstimes/9e0cf32f2a5048fe7e3dcc9a75d2a163bbb26a1bda70693141900a50c3d3035e?w=240&amp;dpr=1&amp;f=webp"/></p>
<h3>Building Asia’s low-carbon industrial future</h3>
<div class="lb-trans"><h3>建设亚洲的低碳工业未来</h3>
</div><p>These differences across markets make the energy trilemma more pronounced, as countries seek to balance energy security, accessibility and sustainability.</p>
<div class="lb-trans"><p>市场之间的这些差异使得能源三重困境更加明显，各国努力在能源安全、可获取性和可持续性之间取得平衡。</p>
</div><p>As renewable energy deployment increases, intermittency must be actively managed to preserve system reliability. This elevates the importance of energy storage, grid infrastructure and system flexibility to be as critical as generating capacity itself.</p>
<div class="lb-trans"><p>随着可再生能源的部署增加，必须积极管理间歇性，以保持系统的可靠性。这使得能源存储、电网基础设施和系统灵活性的重要性与发电能力本身同样关键。</p>
</div><p>In this phase of the transition, energy security is fundamentally about system resilience – the ability to deliver reliable power under increasing variable conditions, while balancing sustainability and accessibility.</p>
<div class="lb-trans"><p>在转型的这一阶段，能源安全根本上是关于系统韧性——在不断增加的可变条件下提供可靠电力的能力，同时平衡可持续性和可获取性。</p>
</div><p><strong>Energy trilemma</strong></p>
<div class="lb-trans"><p><strong>能源三重困境</strong></p>
</div><p>The energy trilemma highlights the challenge of balancing energy security, sustainability and equity as power systems evolve.</p>
<div class="lb-trans"><p>能源三重困境突显了在电力系统演变过程中平衡能源安全、可持续性和公平性的挑战。</p>
</div><p>Robust policy and regulatory frameworks are equally important. They provide the long-term certainty needed to mobilise investment at scale, enabling a diversified energy mix that strengthens system resilience and helps countries balance security, affordability and sustainability.</p>
<div class="lb-trans"><p>强有力的政策和监管框架同样重要。它们提供了动员大规模投资所需的长期确定性，使得多样化的能源组合能够增强系统韧性，并帮助各国在安全性、可负担性和可持续性之间取得平衡。</p>
</div><p>Without stable frameworks, investment and deployment can become fragmented across markets, weakening market confidence and undermining energy security. Against this backdrop, energy companies play a critical role in turning ambition into dependable outcomes. Navigating the energy trilemma requires solutions that work within system and market constraints.</p>
<div class="lb-trans"><p>没有稳定的框架，投资和部署可能在市场之间变得支离破碎，削弱市场信心并破坏能源安全。在这种背景下，能源公司在将雄心转化为可靠成果方面发挥着关键作用。应对能源三重困境需要在系统和市场约束内有效的解决方案。</p>
</div><p>Over the past five years, we have reshaped our portfolio to support this transition. Our gross renewable energy capacity has expanded more than six fold, growing from about 3.2 gigawatt to over 20GW today across solar, wind, hydropower and energy storage. With growing renewables deployment, system stability becomes critical. In many of our markets, gas plays an essential role in ensuring reliable and affordable power supply.</p>
<div class="lb-trans"><p>在过去五年中，我们重塑了我们的投资组合以支持这一转型。我们的可再生能源总装机容量已扩大超过六倍，从约 3.2 吉瓦增长到今天的超过 20 吉瓦，涵盖太阳能、风能、水电和能源存储。随着可再生能源的不断部署，系统稳定性变得至关重要。在我们许多市场中，天然气在确保可靠和可负担的电力供应方面发挥着重要作用。</p>
</div><p>This reflects the need for a pragmatic transition that recognises current system constraints, even as we invest in technologies that can complement renewable energy and progressively reduce emissions over time. <strong>Targets grounded in system realities</strong></p>
<div class="lb-trans"><p>这反映了一个务实的转型需求，承认当前的系统约束，即使我们在投资能够补充可再生能源并逐步减少排放的技术。<strong>基于系统现实的目标</strong></p>
</div><p>The Climate Action Plan reflects the evolving realities of the global energy transition, particularly rising electricity demand and the need to balance energy security, accessibility and sustainability. Following the proposed acquisition of Alinta Energy, Sembcorp’s reported emissions is expected to increase in the near term once we include Alinta Energy’s portfolio, before it declines over time.</p>
<div class="lb-trans"><p>气候行动计划反映了全球能源转型的不断变化的现实，特别是电力需求的上升以及平衡能源安全、可获取性和可持续性的必要性。在提议收购 Alinta Energy 后，胜科工业的报告排放预计在短期内会增加，一旦我们将 Alinta Energy 的投资组合纳入其中，随后会逐渐减少。</p>
</div><p>Therefore, we anticipate not meeting our 2028 emissions intensity target and 2030 absolute emissions target set in 2023, and we have updated our emissions intensity target to 0.26tCO₂e/MWh by 2035.</p>
<div class="lb-trans"><p>因此，我们预计无法达到 2028 年设定的排放强度目标和 2030 年设定的绝对排放目标，并已将我们的排放强度目标更新为到 2035 年达到 0.26tCO₂e/MWh。</p>
</div><p>This reflects the scale and composition of the enlarged portfolio, including the continued role of reliable baseload and dispatchable capacity in maintaining system reliability and energy security as renewable capacity continues to scale.</p>
<div class="lb-trans"><p>这反映了扩大投资组合的规模和组成，包括在可再生能力持续扩大的情况下，可靠的基础负荷和可调度能力在维持系统可靠性和能源安全方面的持续作用。</p>
</div><p>Recognising that the pace and pathway to net zero are dependent on each country’s capacities, constraints and local realities, we adopted a country-specific lens to chart our transition.</p>
<div class="lb-trans"><p>认识到通往净零的步伐和路径取决于每个国家的能力、约束和当地现实，我们采用了特定国家的视角来规划我们的转型。</p>
</div><p>Country-level emissions trajectories are weighted based on Sembcorp’s country exposure and aggregated to derive the group’s overall transition pathway.</p>
<div class="lb-trans"><p>国家级排放轨迹根据胜科的国家曝光度进行加权，并汇总以得出集团的整体转型路径。</p>
</div><p><strong>A multi-faceted transition</strong> Delivering a responsible transition requires action across several fronts such as grid infrastructure and system operations, as well as coordination among many players.</p>
<div class="lb-trans"><p><strong>多方面的转型</strong> 实现负责任的转型需要在多个领域采取行动，例如电网基础设施和系统运营，以及各方之间的协调。</p>
</div><p>Power systems must decarbonise while continuing to meet rising demand, maintain reliability and ensure energy security. This means addressing how energy is stored, managed and integrated into existing systems, alongside the pace at which new technologies can be deployed at scale. We focus on the areas where we can make the most meaningful contribution. These include scaling renewable energy and energy storage, managing and reducing emissions across our existing portfolio through optimisation and capital recycling, and investing in emerging low carbon solutions. New technologies will play an increasingly important role. We are investing in areas such as green hydrogen, biomethane and solid oxide fuel cells.</p>
<div class="lb-trans"><p>电力系统必须在满足不断增长的需求、保持可靠性和确保能源安全的同时实现脱碳。这意味着要解决能源的存储、管理和与现有系统的整合，以及新技术能够大规模部署的速度。我们专注于能够做出最有意义贡献的领域。这些领域包括扩大可再生能源和能源存储，通过优化和资本回收管理和减少我们现有投资组合的排放，以及投资新兴的低碳解决方案。新技术将发挥越来越重要的作用。我们正在投资于绿色氢气、生物甲烷和固体氧化物燃料电池等领域。</p>
</div><p>Our 600MW hydrogen ready combined cycle power plant on Jurong Island, scheduled to begin operations in 2026, illustrates how near term efficiency gains can be paired with future ready infrastructure to support decarbonisation.</p>
<div class="lb-trans"><p>我们位于裕廊岛的 600MW 氢气就绪联合循环发电厂计划于 2026 年投入运营，展示了如何将近期的效率提升与未来就绪的基础设施相结合，以支持脱碳。</p>
</div><p><strong>An inclusive transition with shared progress</strong> A responsible energy transition must work for people and communities too. Through our community investments, we aim to improve access to clean energy. Since 2022, we have supported the solarisation of more than 110 community facilities across our markets.</p>
<div class="lb-trans"><p><strong>包容性的转型与共同进步</strong> 负责任的能源转型也必须为人们和社区服务。通过我们的社区投资，我们旨在改善对清洁能源的获取。自 2022 年以来，我们已支持在我们的市场中对 110 多个社区设施进行太阳能化改造。</p>
</div><p>In parallel, we are strengthening local capabilities through solar related training delivered across partner organisations, while initiatives such as the Sembcorp Energy for Good Fund support decarbonisation efforts in the charity sector.</p>
<div class="lb-trans"><p>与此同时，我们通过在合作伙伴组织中提供太阳能相关培训来增强当地能力，而胜科 “为善能源基金” 等倡议则支持慈善领域的脱碳努力。</p>
</div><p><strong>Enabling a meaningful energy transition</strong> Asia’s energy transition will play a defining role in shaping global decarbonisation outcomes. Rapid demand growth and diverse national circumstances reinforce the need for practical, inclusive and well executed approaches. Ultimately, a responsible energy transition succeeds when ambition is matched by execution, collaboration and the discipline to deliver dependable outcomes for all.</p>
<div class="lb-trans"><p><strong>促进有意义的能源转型</strong> 亚洲的能源转型将在塑造全球脱碳成果方面发挥决定性作用。快速的需求增长和多样化的国家情况进一步强调了需要务实、包容和有效执行的方法。最终，负责任的能源转型在雄心与执行、合作以及提供可靠成果的纪律相匹配时才能成功。</p>
</div><p><strong>The writer is head of group sustainability at Sembcorp</strong></p>
<div class="lb-trans"><p><strong>作者是胜科集团可持续发展负责人</strong></p>
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绘制负责任的能源转型之旅：当雄心与执行力相匹配时