Promoted by the European Commission, the non-binding document aims to support the ASEAN Power Grid, which includes interconnection projects designed to boost grid efficiency and the development of renewables in South-East Asia
Promoting the integration of energy markets and strengthening electricity security in South-East Asia. These are the goals of the joint declaration promoted by the European Commission and signed in Brussels during the Global Gateway Forum on 9-10 October by members of Team Europe, including Cassa Depositi e Prestiti (CDP), in support of the ASEAN Power Grid (APG) initiative.
The non-binding declaration underscores the signatories’ commitment to work together and with the Member States of the Association of Southeast Asian Nations (ASEAN) to support the region’s priority projects, in line with the EU-ASEAN strategic partnership and the EU Multiannual Indicative Programme for Asia 2021-2027.
The APG, which comprises around 20 electricity interconnection projects among ASEAN member countries, is intended to improve grid efficiency, create the conditions for integrating new renewable energy and thereby advance the region’s energy transition. Key APG initiatives include both new interconnections to increase exports of green energy and upgrades to existing networks.
By signing the joint declaration, CDP confirms its role as Italy’s development finance institution, committed to promoting sustainable infrastructure and international cooperation.