To help in making energy secure, support the energy transition as well as keep the global energy markets stable, EU & US have pushed for bilateral commitment.
Due to the policies which have been put in place, a rapid deployment of 136 GW of onshore and offshore wind every year till 2027 is anticipated to happen.
A minimum of $200 billion in energy investment across southeast Asia is the key in order to ensure that clean energy transition takes place at a rapid pace.
Due to the highest electricity demand in the world, power consumption in Asia will reach 18,406 terawatt-hours by 2032 according to a Fitch Solutions report.
Regional energy connectivity viability study will be conducted by Singapore, US in 2 phases taking into account existing and potential power interconnections.
