Singapore, 22 October 2024 – The Ministry of Trade and Industry (MTI), Energy Market Authority of Singapore(EMA) and United States Department of Energy (US DOE) will commence the nextphase of the United States-Singapore Feasibility Study on Regional EnergyConnectivity through the Net Zero World Initiative at the Singapore InternationalEnergy Week (SIEW).
2. On 3 April 2023, Singapore and the United States embarked on the first phaseof the Joint Feasibility Study on Regional Energy Connectivity, which examined therenewable energy landscape and existing grid infrastructure of ASEAN countries,regional sub-sea interconnections, and the socioeconomic impact of regionalconnectivity
3. The first phase of the Study examined the renewable energy landscape andexisting grid infrastructure of ASEAN countries, regional sub-sea interconnections,and the socioeconomic impacts of regional interconnectivity. Preliminary findings fromthe first phase highlight the benefits that sub-sea interconnections will bring to theregion. These include emissions reduction, the lowering of generation capital andproduction costs, increased renewable energy deployment thereby ensuring resourceadequacy and power supply resilience, and economic benefits including investmentopportunities and the creation of green jobs in the region. More detailed findings of thefirst phase will be presented at SIEW Energy Insights at SIEW 2024.
4. Building on the successful outcomes of the first phase, the second phase of theStudy will cover the legal and governance frameworks and financing arrangementsneeded to facilitate regional energy connectivity in Southeast Asia. Titled “Study onLegal and Financing Frameworks for Regional Energy Connectivity in Southeast Asia”,it will involve more regional countries and multilateral partners through theestablishment of a Workgroup coordinated by Singapore and the US.
5. The Workgroup will enable partners to contribute towards the development ofthe ASEAN Power Grid initiative, and support regional efforts to deploy renewableenergy and collectively decarbonise. It will also enable the region to collectively shapediscussions on cross-border electricity trading projects within Southeast Asia.
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About the Energy Market Authority
The Energy Market Authority (EMA) is a statutory board under the Singapore Ministryof Trade and Industry. Through our work, we seek to forge a progressive energylandscape for sustained growth. We aim to ensure a reliable and secure energysupply, promote effective competition in the energy market and develop a dynamicenergy sector in Singapore. Visit www.ema.gov.sg for more information
For media enquiries, please contact:
Ms Sikha Bagaria
Senior Manager, Corporate Communications
Energy Market Authority
Tel: (65) 9777 4790
Email: sikha_bagaria@ema.gov.sg
Mr Gabriel Lim
Manager, Corporate Communications
Energy Market Authority
Tel: (65) 8696 2498
Email: gabriel_lim_from.tp@ema.gov.sg
