ADB and Singapore's EMA join forces to promote clean energy

The Asian Development Bank (ADB)
The Asian Development Bank (ADB) and Singapore's Energy Market Authority (EMA) have signed a memorandum of understanding (MoU) to bolster the development of clean energy in the Association of Southeast Asian Nations (ASEAN) region. This collaboration aligns with ADB's commitment to provide $100 billion in climate financing from 2019 to 2030 and supports the establishment of the ASEAN Power Grid. By sharing expertise and best practices, the partnership aims to facilitate the transition to low-carbon economies, enhance regional cooperation, and promote public-private partnerships in renewable energy projects. The agreement also empowers the ADB to utilize its full range of products and services to support ASEAN nations in implementing and managing clean energy projects. The collaboration will contribute to Singapore's efforts to decarbonize its power sector and enable the import of clean electricity.

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