The Asian Development Bank (ADB) and Singapore’s Energy Market Authority (EMA) have renewed their memorandum of understanding for another three years to advance cross‑border energy projects in Southeast Asia, including electricity exports to Singapore. The partnership will focus on overcoming barriers to renewable energy generation and grid interconnector projects, supporting the ASEAN Power Grid initiative to connect national electricity networks and expand regional energy cooperation.
Under the renewed agreement, ADB and EMA will collaborate on issues such as project bankability, risk allocation, technical complexities of subsea cable infrastructure, and financing. ADB Vice‑President Scott Morris emphasized the importance of tackling these challenges to shape enduring solutions for cross‑border electricity trade, while EMA’s Chua Shun Loong highlighted the role of regional power interconnections in strengthening energy security and supporting decarbonization.
ADB has pledged up to $10 billion over the next decade to support the ASEAN Power Grid, including cross‑border transmission, national grid projects, and renewable energy initiatives. More broadly, ADB is scaling up regional connectivity efforts, with President Masato Kanda announcing a $70 billion push to expand power grids, electricity trade, and broadband access across Asia and the Pacific.
The EMA, under Singapore’s Ministry of Trade and Industry, plays a key role in ensuring reliable energy supply, promoting competition, and supporting sustainable energy development. ADB, founded in 1966 and owned by 69 members, continues to support sustainable, inclusive, and resilient growth across Asia and the Pacific through innovative financial tools and strategic partnerships.
