The Energy Market Authority, the Singapore Ministry of Trade and Industry, and the United States Department of Energy are soon going to be executing a feasibility study when it comes to regional energy connectivity.
The research is going to be conducted in two parts, starting with reviews of potential as well as existing power interconnections in ASEAN as well as the socioeconomic benefits when it comes to regional energy connectivity in phase one.
When it comes to the second phase, legal and governance frameworks as well as financing arrangements are going to be covered.
The study will be done in order to help the ASEAN Power Grid initiative and also support the regional efforts in order to deploy renewable energy and also collectively decarbonize it.
It is also brought to notice that both parties involved look forward to sharing the initial findings, which will come out in the first phase of the joint feasibility study by October this year.
The proposal to conduct the feasibility study on regional energy connectivity was earlier announced on July 14 last year at the side-lines of a roundtable in Singapore to elevate both countries’ energy collaborations, which also include the US-Singapore climate partnership.