Asian Development Bank (ADB) and the Singapore Energy Market Authority (EMA) signed a memorandum of understanding (MoU) on July 11, in order to develop renewable energy production and transmission in Southeast Asia while supporting the establishment of ASEAN power grid.
The collaboration will involve sharing expertise and best practices in areas such as regional partnerships, public-private partnerships, project structuring and funding. The MoU also authorizes ADB to utilize its products and services to assist ASEAN countries and sponsors in implementing green energy projects in the region and managing the risks associated with these projects.
