For instance, Daerr said, the EU is well-positioned to support the Asean Power Grid (APG) initiative by sharing its technical expertise and regulatory experience.
The initiative was introduced in 1997 to link the electricity infrastructure across the Asean region, with full integration slated for 2045.
“We have valuable experience to share in terms of regulation, having integrated markets that were traditionally quite secluded.
“We also bring technological expertise, particularly in the development of underwater cables, where we have both the know-how and the technology,” he said.
Daerr said mutual exchanges between Asean and the EU would also be highly beneficial, and could pave the way for more stable, efficient and sustainable power systems across Asean.
Since the 1990s, the EU has built a unified energy market that connects national grids and enables cross-border electricity trade.
Coordinated by the European Network of Transmission System Operators for Electricity, the EU electricity grid is one of the most extensive and integrated in the world, spanning more than 11 million kilometres in a synchronised network of all 27 EU member states.
The APG is an Asean initiative aimed at promoting multilateral power trading through cross-border interconnections.
It is a crucial part of Asean’s plans to enhance energy security, diversify sources and accelerate the region’s transition to renewable energy.
On Sunday, investment, trade and industry minister Tengku Zafrul Aziz said negotiations on the enhanced memorandum of agreement for the APG were set to conclude with a signing at the 43rd Asean Ministers on Energy Meeting in October.
He said Asean’s economic ministers also welcomed ongoing work towards the establishment of the APG Financing Facility Framework, which will enhance cross-border flows of foreign direct investments and new funding opportunities for regional energy-related projects.
On the sidelines of the 46th Asean summit here, Malaysia, Singapore and Vietnam agreed to jointly explore renewable energy exports in a deal signed by their government-linked firms to collaborate on developing a new electricity interconnection.
The collaboration involves a consortium comprising Sembcorp Utilities – a wholly-owned subsidiary of Singapore-based Sembcorp Industries – and PetroVietnam Technical Services Corporation, a member of the Vietnam National Industry and Energy Group.
The two firms are partnering with Malaysia’s MY Energy Consortium, an unincorporated alliance established by national utility company Tenaga Nasional Bhd and state oil company Petronas.
Under the agreement, the partners will assess the viability of transmitting renewable energy from Vietnam to Malaysia and Singapore through a new subsea cable that passes through Peninsular Malaysia’s national grid.