SINGAPORE, Oct 1 — Singapore and the World Bank have launched a three-year partnership aimed at turning the Asean Power Grid ambition into investable projects by tackling regulatory and other barriers to cross-border electricity trade.

The Asean Power Grid Mobilisation Partnership (AMP), signed between the Ministry of Energy, Trade and Industry (METI), Ministry of Finance (MOF) and the World Bank Group, will address issues related to cross-border wheeling arrangements while promoting regional cooperation, capacity building and knowledge exchange among Asean member states.

In a joint statement on Thursday, they said the partnership would draw on the World Bank’s technical expertise and experience in infrastructure financing, energy markets and regional power trade.

It will also complement the World Bank’s broader support for developing the Asean Power Grid through technical assistance, financing and private sector engagement.

METI Director (Energy Partnerships) Conran Chia said unlocking interest among the financing community to participate in the Asean Power Grid would require regulatory and other bankability hurdles to be satisfactorily addressed.

He said Singapore was optimistic that the AMP would address these hurdles and support Asean’s efforts to create a more connected and resilient grid.

World Bank Singapore Regional Hub Manager Kristina Svensson said realising the Asean Power Grid would require sustained regional collaboration, practical solutions, private sector investment and strong institutional capacity.

“The World Bank is pleased to contribute its global experience, technical expertise, convening power and financing capabilities to help Asean partners translate shared ambition into investable projects and tangible benefits for people and economies across the region,” she said.

MOF Director-General (International) Alvin Lim said the AMP would help strengthen the foundations of Asean’s power systems as the region moved towards a more connected and energy-secure Asean. 

“The Asean Power Grid is an important undertaking that will enable the region’s energy transition and resilience,” he said. — Bernama