The country will first focus on regional partnerships, the Ministry of Trade and Industry said.
Singapore has no plans to provide direct investments in cross-border infrastructure, in relation to the ASEAN power grid, the Ministry of Trade and Industry said.
“Our focus is to work with regional partners to provide the framework, regulations, and ecosystem that will enable commercial players to build the infrastructure,” Second Minister for Trade and Industry Dr Tan See Lang said.
“We will continue to work closely with regional partners and with this year’s ASEAN Chair, Indonesia, to realise the ASEAN Power Grid.
The ASEAN Power Grid seeks to integrate the national power systems of the ten member states to open opportunities for electricity trading.
Singapore is currently working with other ASEAN markets on projects, such as the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project.
It has also signed memoranda of understanding with Cambodia, Lao PDR, and Vietnam to advance energy interests and facilitate regional decarbonistaion.
Just last week, Singapore also signed an MoU with Indonesia on renewable energy cooperation. This is all on top of its partnership with the US on a feasibility study on regional energy connectivity, in support of the ASEAN Power Grid.
“The ASEAN Power Grid can facilitate ASEAN’s decarbonization efforts. There is significant renewable energy potential in the Southeast Asia region,” Tan said.
“Building energy interconnections can help to realize this potential by joining the producing regions to the consumption points.”