Opening Remarks by Minister for Energy, Trade and Industry (Energy and Industry) Dr Tan See Leng at the Singapore-IRENA High-Level Forum

Director-General Francesco La Camera,

Excellencies,

Distinguished guests,

1. Good afternoon. It is my pleasure to welcome everyone to the 6th Singapore-IRENA High-Level Forum.

2. This year’s theme, “Connecting Investments for an Interconnected Energy Future”, is timely. Renewable energy deployment continues to grow worldwide. According to IRENA, global renewable power capacity increased by 692 gigawatts in 2025, a 15.5% increase from the previous year.

3. Southeast Asia has considerable renewable energy potential. However, these resources are unevenly distributed across the region, making regional connectivity essential to unlocking their full potential. The urgency is clear. The 9th ASEAN Energy Outlook estimates that ASEAN will need to add around 26 gigawatts of renewable energy capacity annually to meet its 2030 renewable power capacity target, four times the pace achieved over the past decade.

4. The challenge is therefore not just to develop more renewable energy projects, but to ensure that they are commercially viable and bankable. Successful cross-border projects will form the building blocks of the ASEAN Power Grid (APG), connecting renewable energy supply with demand centres across the region. Let me highlight three areas where we need to make progress.

Creating Clear and Predictable Regulatory Frameworks

5. First, we must create clear and predictable regulatory frameworks for cross-border electricity trade. Without such frameworks, it will be challenging to attract investments to realise the full potential of the APG.

6. We are building the institutional foundations for these frameworks through the Enhanced ASEAN Power Grid Memorandum of Understanding and the ASEAN Submarine Power Cable Development Framework. Beyond physical infrastructure, cooperation on areas such as cross-border wheeling arrangements and cross-border Renewable Energy Certificates will also be needed to fully realise the potential of the APG. We will continue to work alongside our fellow governments in our region on these important initiatives.

Accelerating Cross-Border Electricity Trading Projects

7. Second, we must translate our ambitions for greater regional energy connectivity into concrete projects. While there is strong momentum behind the ASEAN Power Grid, realising its full potential will require us to move beyond planning towards execution and implementation.

8. This means identifying and advancing priority cross-border electricity trading projects, strengthening coordination among participating countries, and addressing practical challenges associated with developing and operating regional interconnections.

9. Singapore is committed to playing our part. Just yesterday, EMA granted a Conditional Approval to Sembcorp Utilities to import up to 1.3 gigawatts of low-carbon electricity from and through Peninsular Malaysia. This builds on the Conditional Approvals granted to two other projects in August this year, expanding the potential pathways for electricity imports from Malaysia. Together, these projects represent important building blocks of a more interconnected ASEAN Power Grid.

Harnessing Renewable Energy for Green Industrialisation

10. Third, we should harness renewable energy to support green industrialisation.

Greater access to renewable energy and other low-carbon alternatives can help industries reduce emissions and remain competitive. This can also create new opportunities for investment in cleaner industrial processes, technologies and supply chains, supporting the region’s transition towards a lower-carbon economy.

Deepening Cooperation with IRENA

11. Advancing these three areas will require close cooperation among governments, industry and international organisations. IRENA has an important role to play in bringing together stakeholders and supporting regional efforts to accelerate renewable energy deployment.

12. In this regard, we welcome IRENA’s Accelerated Partnership for Renewable Energy in Southeast Asia, or APRESA unveiled at last year’s SIEW. APRESA can complement ASEAN’s efforts to advance the APG by facilitating dialogue on regulatory frameworks, supporting the development of cross-border electricity trading projects, and identifying opportunities to harness renewable energy for industrial development.

13. Singapore looks forward to continuing our close cooperation with IRENA to translate these shared priorities into concrete outcomes for the region.

Conclusion

14. In closing, I hope today's Forum will provide an opportunity for governments, industry and financial institutions to exchange ideas, strengthen partnerships and identify practical ways to advance renewable energy development and regional connectivity.

15. Thank you.