Cross-border energy projects need enabling frameworks

Leaders from the energy sector gathered last week at the Singapore-International Renewable Energy Agency (IRENA) High-Level Forum, at the sidelines of the Singapore International Energy Week (SIEW) 2025.

At the Ministerial Dialogue panel, the conversation centred around the need for enabling frameworks for renewable energy investments that could accelerate cross-border energy projects.  

The United Nations’ Economic and Social Commission for Asia and the Pacific (UN-ESCAP)’s Deputy Secretary for Programme, Lin Yang, said that energy interconnectivity required political commitment, long-term vision, strategy, investment, and a people-centred approach.  

Other members of the panel included the Republic of the Philippines’ Secretary for the Department of Energy, Sharon Garin; United Arab Emirates (UAE) Undersecretary for Energy and Petroleum Affairs, Sharif Salim Al Olama; and IRENA’s Director of Country Engagement & Partnerships, Gorbuz Gonul, as a moderator.  

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Advancing energy efficiency 

“While we’ve had commendable progress when it comes to renewable capacity being installed over the past year, we are still off track,” noted UAE’s Al Olama.  

According to him, a critical factor to tackle was energy efficiency.  

“With energy efficiency, you will have more efficient systems that consume less power, so you will have more power to provide for the energy demand and the economy that are anticipated to grow in the ASEAN region,” he said. 

ASEAN’s energy demand was anticipated to grow up to 60 per cent by 2040.  

“We had committed in COP28 that we would double energy efficiency from two to four per cent today. As I understand by the International Energy Agency (IEA), we are barely doing just over one per cent,” noted Al Olama. 

This was one of the motivators behind the Global Energy Efficiency Alliance, led by the UAE as an initiative to improve energy productivity, foster international collaboration, and reduce carbon emissions through sharing of best practices.  

Domestically, the UAE has attracted more than US$14 billion (S$18 billion) investment toward clean energy, shared Al Olama.  

“We haven’t limited ourselves to our boundaries, though. We are also investing in over 14 countries to enhance our regional and global connectivity,” he said.  

In terms of achieving energy interconnectivity, Al Olama highlighted there were three enablers required: A long-term and stable policy, an open and competitive market, and the need to de-risk the investments through innovative financing with the private sector. 

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Enabling energy investments 

The Philippines was showing the way in offering a dynamic market for energy investments, shared Garin.  

According to her, flexibility and adaptability to the evolving landscape are critical: “governments have to be more responsive, because technology is faster than policies,” she noted. 

Since the privatisation of the energy market in the Philippines, the Department of Energy has adjusted its policies to facilitate ease of doing business, such as allowing entrance to renewable energy business. 

“So long as there is proper coordination or understanding between governments and the private investors, I think the most interest would be achieved. The government achieves their renewable energy targets while the investors reach their profit targets,” said Garin.  

With new frameworks and certifications emerging as renewable energy and carbon credits take the spotlight, governments must proactively move to ensure the policies align with investment interests.  

“We need to address the needs of our investors. When there is dialogue between the government and the private investors, I think the accountability and transparency will just follow,” Garin added.