Singapore’s Ministry of Trade and Industry (MTI) and the United States Department of Energy (DOE) unveil initial results from the Feasibility Study on Regional Energy Connectivity, emphasizing potential benefits for the ASEAN region.
On October 24, 2023, the Ministry of Trade and Industry (MTI) of Singapore, in collaboration with the Energy Market Authority of Singapore (EMA) and the United States Department of Energy (DOE), released the initial findings of the first phase of the joint Feasibility Study on Regional Energy Connectivity.
Commencing on April 3, 2023, the inaugural phase of the study extensively examined the renewable energy landscape and pre-existing grid infrastructure within ASEAN countries. It also scrutinized regional sub-sea interconnections, and delved into the socioeconomic implications of bolstering regional connectivity.
The US DOE, alongside U.S. national laboratories, is slated to unveil the pivotal initial discoveries during the Singapore International Energy Week on October 25, 2023. These findings are expected to underscore the manifold advantages that sub-sea interconnections can bestow upon the region. Among these benefits are notable reductions in emissions, decreased capital and production costs, amplified deployment of renewable energy sources, ensuring resource sufficiency, fortifying power supply resilience, and a boost to the regional economy through the creation of green jobs.
The study additionally identified lucrative investment prospects for sub-sea transmission infrastructure. Furthermore, U.S. national laboratories assessed the geographical and geological risks associated with constructing sub-sea interconnections in the region. They also pinpointed strategies to mitigate these identified risks.
These revelations are poised to align with the worldwide thrust towards achieving net-zero emissions, triggering a paradigm shift in how regional grid interconnections and cross-border initiatives can unlock the potential of renewable energy sources. This endeavor is anticipated to make substantial contributions to the realization of the ASEAN Power Grid (APG) initiative, concurrently bolstering regional endeavors towards renewable energy deployment and collective decarbonization.
Bolstered by this encouraging progress, the United States and Singapore have outlined plans to initiate the second phase of the study. The upcoming phase will center on a comprehensive evaluation of the requisite legal and governance frameworks, as well as the financing arrangements essential for expediting regional energy connectivity. Additionally, there will be a more detailed analysis of grid impacts. Both nations eagerly anticipate advancing their energy cooperation and collaborating with regional countries and multilateral partners within the framework of the Net Zero World Initiative, with the shared goal of facilitating energy decarbonization within the region.
