Asian Development Bank Extends Its Partnership With Singapore To Advance Cross-Border Energy Projects In Southeast Asia

The Asian Development Bank (ADB) and Singapore’s Energy Market Authority (EMA) have extended their memorandum of understanding for another three years to continue supporting cross-border energy initiatives in the ASEAN region, including projects that will supply electricity to Singapore.With this renewed agreement, both organizations will work together to overcome the main challenges affecting renewable energy development and regional power connectivity.

Their cooperation will focus on issues such as improving project bankability, managing risks, addressing the technical complexities of subsea cable systems, and exploring suitable financing options. These efforts are aimed at advancing the ASEAN Power Grid, a major regional initiative designed to link national electricity networks and strengthen energy cooperation across Southeast Asia.

Scott Morris, ADB’s Vice-President for East and Southeast Asia and the Pacific, said the bank is pleased to continue supporting Singapore in its efforts to tackle some of the toughest obstacles in cross-border electricity trade. He emphasized that this partnership is helping shape practical and lasting solutions for the region’s energy transition.

Chua Shun Loong, Assistant Chief Executive of EMA’s Energy Policy Division, noted that regional power links play a crucial role in boosting energy security and helping Southeast Asian countries reduce emissions. He said the renewed partnership with ADB will help accelerate the development of commercially viable cross-border electricity projects and bring the ASEAN Power Grid vision closer to reality.

ADB has committed up to $10 billion over the next decade to support the ASEAN Power Grid. This includes investments in cross-border transmission lines, national grid improvements, and renewable energy projects that will enable electricity trade throughout Southeast Asia.Beyond this specific initiative, ADB is also expanding its broader regional connectivity efforts.

Earlier this month, ADB President Masato Kanda announced a new $70 billion commitment to enhance power grid links, boost cross-border electricity trade, and improve digital connectivity across Asia and the Pacific.EMA, operating under Singapore’s Ministry of Trade and Industry, is responsible for maintaining a secure and reliable energy supply, ensuring fair competition in the energy market, and fostering the growth of a sustainable energy sector.

ADB remains one of the region’s key development partners, supporting sustainable and resilient growth. Since its establishment in 1966, the institution has worked with its members to develop innovative financial solutions, build infrastructure, and address complex social and environmental challenges. ADB is owned by 69 member countries, including 50 from within the region.