Singapore (VNA) - The Asian Development Bank (ADB) and the Energy Market Authority(EMA) of Singapore have signed an MoU that paves the way for the development ofrenewable energy generation and transmission across the Association ofSoutheast Asian Nations (ASEAN) region.
The new deal also supports the establishment of the ASEAN Power Grid, theManila-based bank said on July 11.
The ADB said the partnership will boost Singapore’s efforts to decarbonise itspower sector and import clean electricity from the region.
EMA ChiefExecutive Ngiam Shih Chun said the collaboration will combine the expertise andresources of EMA and ADB to further unlock the potential for low-carbonelectricity to power the region and boost efforts to decarbonise Singapore’s powersector through imports of low-carbon electricity.
As Asia and thePacific’s climate bank, the ADB has set the goal to deliver 100 billion USD inclimate financing across the region from 2019 to 2030 while supporting a rangeof initiatives to help countries transition to low-carbon economies and buildresilience to the impacts of climate change./.
The new deal also supports the establishment of the ASEAN Power Grid, theManila-based bank said on July 11.
The ADB said the partnership will boost Singapore’s efforts to decarbonise itspower sector and import clean electricity from the region.
EMA ChiefExecutive Ngiam Shih Chun said the collaboration will combine the expertise andresources of EMA and ADB to further unlock the potential for low-carbonelectricity to power the region and boost efforts to decarbonise Singapore’s powersector through imports of low-carbon electricity.
As Asia and thePacific’s climate bank, the ADB has set the goal to deliver 100 billion USD inclimate financing across the region from 2019 to 2030 while supporting a rangeof initiatives to help countries transition to low-carbon economies and buildresilience to the impacts of climate change./.
VNA
