Over 160 participants attended the Singapore-International Energy Agency Regional Training Programme on Catalysing Interconnectivity. They gathered to share best practices and build expertise, recognizing that cross-border electricity trading will play a crucial role in realizing Southeast Asia’s renewable energy potential. Held on June 6-7, the training programme offered a valuable platform for sharing best practices and cultivating expertise in cross-border electricity trading. It covered financing, market models, and regional cooperation frameworks for subsea cables. Additionally, the programme contributed to regional discussions on advancing the Association of Southeast Asian Nations (ASEAN) Power Grid vision.
This training programme is timely, as cross-border electricity trading is anticipated to be crucial for realizing Southeast Asia’s renewable energy potential. In 2022, the ASEAN Centre for Energy’s 7th ASEAN Energy Outlook projected that the region’s renewable energy share in installed capacity would reach 63.2% by 2050. According to the IEA, cross-border electricity trading can offer multiple benefits, including reduced system costs, enhanced energy security, and better integration of higher shares of variable renewable energy.
Mr Ngiam Shih Chun, Chief Executive of the EMA, said, “Regional interconnectivity is a key lever in supporting regional decarbonisation and enhancing energy security. This training programme is timely in developing the frameworks and studying the infrastructure needed to enable multilateral power trading in the region. With the establishment of the IEA’s first Regional Cooperation Centre in Singapore, we will continue to work closely with the IEA to build capacity and accelerate Southeast Asia’s energy transitions.”
Dr Fatih Birol, Executive Director of the IEA, added, “The IEA has supported the development of regional interconnection and power trade in ASEAN for many years through numerous in-depth analyses and capacity-building events for stakeholders across the region, including this important training. There is no doubt that the IEA’s engagement in Southeast Asia will grow, with increasing cross-border power trade being a key focus area of the new IEA Regional Centre in Singapore.”
