ADB and Singapore's EMA Partner to Drive Clean Energy in ASEAN
The Asian Development Bank
(ADB) and Singapore's Energy Market Authority (EMA) have joined forces through
a memorandum of understanding (MoU) to accelerate the advancement of clean
energy in the Association of Southeast Asian Nations (ASEAN). With ADB's
commitment of $100 billion in climate financing from 2019 to 2030 and support
for the ASEAN Power Grid, this collaboration aims to promote the transition to
low-carbon economies, foster regional cooperation, and encourage public-private
partnerships in renewable energy projects. The agreement empowers ADB to offer
its comprehensive range of products and services to support ASEAN nations in
implementing and managing clean energy initiatives. Additionally, this
partnership supports Singapore's goal of decarbonizing its power sector and
facilitating the import of clean electricity.
