Asean to Boost Clean Energy with Power Grid Integration Push
Malaysia, this year's host of the annual Asean energy ministers meeting, plans to tackle regional power grid integration challenges head-on. The meeting aims to address practical solutions to boost investor confidence and accelerate clean energy adoption.
A recent survey revealed that two-thirds of respondents urge Asean to strengthen cross-border coordination for clean energy scaling. To achieve this, Asean member states will sign an enhanced memorandum of understanding on the Asean Power Grid (APG) in October 2023. This MoU will focus on harmonizing rules and regulations for electricity trade among members.
Developing common technical standards and grid codes is a top priority. Establishing transparent rules for tariffs and wheeling charges, along with a dispute resolution mechanism, is another key focus. Financiers support these efforts to build investor confidence in the region. Eight out of 10 Asean countries have set net zero targets, further emphasizing the need for practical solutions to power grid integration challenges.
The upcoming MoU signing in October 2023 signals Asean's commitment to practical solutions for power grid integration. With regular ministry-level monitoring, dedicated financing mechanisms, and strategic support from multilateral development banks, Asean aims to sustain momentum on the APG. Industry players welcome these efforts to align standards across countries, facilitating cross-border projects and boosting clean energy adoption.
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