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 next
phase of the United States-Singapore Feasibility Study on Regional Energy
Connectivity through the Net Zero World Initiative at the Singapore International
Energy Week (SIEW).
2. On 3 April 2023, Singapore and the United States embarked on the first phase
of the Joint Feasibility Study on Regional Energy Connectivity, which examined the
renewable energy landscape and existing grid infrastructure of ASEAN countries,
regional sub-sea interconnections, and the socioeconomic impact of regional
connectivity
3. The first phase of the Study examined the renewable energy landscape and
existing grid infrastructure of ASEAN countries, regional sub-sea interconnections,
and the socioeconomic impacts of regional interconnectivity. Preliminary findings from
the first phase highlight the benefits that sub-sea interconnections will bring to the
region. These include emissions reduction, the lowering of generation capital and
production costs, increased renewable energy deployment thereby ensuring resource
adequacy and power supply resilience, and economic benefits including investment
opportunities and the creation of green jobs in the region. More detailed findings of the
first 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 the
Study will cover the legal and governance frameworks and financing arrangements
needed to facilitate regional energy connectivity in Southeast Asia. Titled “Study on
Legal and Financing Frameworks for Regional Energy Connectivity in Southeast Asia”,
it will involve more regional countries and multilateral partners through the
establishment of a Workgroup coordinated by Singapore and the US.
5. The Workgroup will enable partners to contribute towards the development of
the ASEAN Power Grid initiative, and support regional efforts to deploy renewable
energy and collectively decarbonise. It will also enable the region to collectively shape
discussions 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 Ministry
of Trade and Industry. Through our work, we seek to forge a progressive energy
landscape for sustained growth. We aim to ensure a reliable and secure energy
supply, promote effective competition in the energy market and develop a dynamic
energy 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