SINGAPORE - Asean and the International Renewable Energy Agency (Irena) will be holding regular high-level dialogues between ministers and senior officials following the signing of a memorandum of understanding (MOU) between the two sides on Tuesday (Oct 30).
Under the MOU, Singapore will also share its expertise on encouraging energy sector investments and training other countries to use data and new technologies.
As part of the agreement, Irena will help Asean develop and finance renewable energy projects, and will provide technical support to all member states.
This will help the regional bloc meet its goal of getting 23 per cent of its energy from renewable sources, almost double the 12.4 per cent level in 2016, said the 10 Asean energy ministers and the Asean Secretary General in a joint statement on Monday (Oct 29).
Minister for Trade and Industry Chan Chun Sing, commenting on the MOU, said that Singapore could help the region tackle unsustainable energy consumption through sharing new urban design methods and materials.
He said the agreement was one of the ways Singapore would help combat climate change, adding that the country would also look at increasing its energy efficiency and decreasing the amount of pollution created by energy production.
Irena director-general Adnan Z. Amin said: "South-east Asia has tremendous renewable energy potential. If fully harnessed, cost-competitive renewable energy can not only help meet rising electricity demand, but also bolster energy security and deliver widespread socio-economic benefits to millions of people across the region."