EMA, ADB partner to develop RE generation, transmission in ASEAN
This will also boost Singapore’s decarbonisation drive in the power sector.
Singapore’s Energy Market Authority (EMA) and the Asian Development Bank signed a memorandum of understanding (MOU) to develop renewable energy generation and transmission in the Association of Southeast Asian Nations region.
In a statement, the EMA said the MOU will involve the sharing of expertise and best practices across various areas such as regional cooperations, public-private partnerships, structuring and project financing.
The MOU also enables the ADB to use its products and services to support ASEAN members and project sponsors to implement and manage the risks of clean energy projects in the region.
EMA added that the collaboration will support the Lion City’s decarbonisation efforts in the power sector and its import of clean energy from the region.
Singapore aims to import up to four gigawatts of low-carbon electricity which is equal to 30% of its total supply by 2035.