Singapore and World Bank launch ASEAN Power Grid Mobilisation Partnership

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Singapore’s Ministry of Energy, Trade and Industry (METI), the Ministry of Finance (MOF) and the World Bank have established a three-year ASEAN Power Grid Mobilisation Partnership (AMP) on Oct 1 between Singapore and the World Bank.

Cognisant of regulatory and bankability challenges that are preventing more investment in the ASEAN power grid (APG), Conran Chia, director (energy partnerships) at METI says, “Singapore is optimistic that the ASEAN Power Grid Mobilisation Partnership will address these hurdles, which in turn will support ASEAN’s efforts to create a more connected and resilient grid.”

Focused on strengthening the regulatory, institutional, and financing environment for cross-border electricity trade, including issues related to cross-border wheeling arrangements, the AMP will also promote regional cooperation, capacity building, and knowledge exchange among ASEAN member states.

Alvin Lim, director-general (International) at MOF, stresses that the APG is an “important undertaking” that will advance the energy transition and improve energy resilience in the region. “Singapore is pleased to partner with the World Bank Group and ASEAN Member States to address existing gaps in project implementation and improve project bankability,” he says. “The ASEAN Power Grid Mobilisation Partnership will help strengthen the foundation of ASEAN’s power systems and move us towards a more connected and energy-secure ASEAN.”

Source: ASEAN Centre for Energy