GEAPP Unlocks $1.7 Billion for Clean Energy in Southeast Asia
The Clean Energy Partnership for Southeast Asia (GEAPP) has successfully unlocked $1.7 billion in finance, leading to 37 projects that will enhance access to clean energy for 4 million people and cut carbon emissions by an estimated 18 million tonnes.
GEAPP, initiated at COP26 in 2021, has now unlocked over $165 million to support the clean energy transition in Southeast Asia. The organisation aims to deepen private sector engagement to meet the rising financial and technological demands of the energy transition in the region.
One of GEAPP's notable achievements is helping Vietnam integrate large-scale battery storage into its national grid. This is being facilitated through the launch of a Battery Energy Storage System (BESS) Task Force.
GEAPP's ambitious partnership model targets improving energy access for 91 million people, supporting or creating 3.1 million jobs, and preventing 296 million tonnes of carbon emissions. The organisation's success in unlocking $1.7 billion in financing demonstrates its significant impact on the clean energy transition in Southeast Asia.
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