Washington DC, June 19, 2025 - The World Bank approved an additional $7.7 million grant from the International Development Association (IDA) for the ASEAN Centre for Energy (ACE) for ASEAN Power Grid projects.
This financing is part of the World Bank's $2.5 billion Accelerating Sustainable Energy Transition Program [ASET] to an initial $5 million grant for ACE approved in September 2024. The additional grant will fund project preparation facility in ACE for the ASEAN power grid under the ASEAN Vision 2020 for operationalization by 2045.
"An integrated energy grid will increase reliability, affordability, flexibility, and resilience of power systems and leverage the region's diverse energy sources, such as wind and solar" said Manuela Ferro, Regional Vice President of East Asia and Pacific Region.
This grant aligns with ASET MPA's objectives of supporting both regional and national efforts to accelerate the scale-up of renewable energy and promote regional power trade within ASEAN. It will support technical studies, including the ASEAN Interconnection Masterplan Study, and will provide transaction structuring support to coalesce diverse group of financiers including development partners and private sector. It will also strengthen the implementation and coordination capacity of ACE to meet the increased demand to facilitate regional power trade among ASEAN member states.
