Singapore’s Energy Market Authority (EMA) and the Asian Development Bank (ADB) have renewed a memorandum of understanding for an additional three years to support the development of cross-border energy projects across Southeast Asia. The renewed agreement focuses on renewable energy generation and grid interconnection initiatives that support the ASEAN Power Grid programme.
Under the agreement, EMA and ADB will collaborate on addressing key project development challenges including bankability, financing structures, risk allocation mechanisms and technical issues related to subsea transmission infrastructure. ADB has committed up to USD 10 billion over the next decade to support the ASEAN Power Grid initiative, with funding expected to support cross-border transmission systems, national grid infrastructure and renewable energy projects connected to regional electricity trade.
The partnership forms part of broader efforts to strengthen regional energy security and support decarbonisation across Southeast Asia. ADB has also announced a wider USD70 billion regional connectivity programme focused on power networks, cross-border electricity trade and digital infrastructure development across Asia and the Pacific, highlighting increasing momentum behind regional energy integration initiatives.