Power and Energy
Energy security is key to economic growth.
BIMP-EAGA needs reliable, affordable, and sustainable sources of energy. The subregion has abundant energy resources, but many areas have limited or no access to electricity. This has slowed development in the subregion, especially in rural areas.
BIMP-EAGA countries want to bring electricity to all rural households by 2025. This involves building infrastructure for power generation, transmission, and distribution.
Establishing a fully integrated power grid for the subregion however faces several challenges. BIMP-EAGA is made up mostly of archipelagos. There are also differences in the countries’ regulations, technical standards, and market structures and processes.
To develop the power and energy sector, BIMP-EAGA has identified the following measures:
- Promote investment opportunities in power generation, transmission, and renewable projects.
- Create the right environment to encourage energy-related investments by the national government. BIMP-EAGA will align such projects with ASEAN’s plans for a regional power grid infrastructure. It will also align efforts to improve energy policies with ASEAN’s work on energy technical standards, operating procedures, and regulatory frameworks.
- Enhance cooperation and implementation of renewable energy projects and improve energy access in rural areas.
- Promote energy efficiency and conservation.