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Media Releases
22 Oct 2024
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- 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).
- 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.
- 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.
- 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.
- 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.