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July 10, 2023

USAID Inks Agreement with ASEAN Center for Energy to Develop Regional Clean Energy Initiatives 

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July 10, 2023

On June 23rd, The United States Agency for International Development (USAID) signed an agreement with the ASEAN Center for Energy (ACE) to accelerate the region's transition towards decarbonization through increased regional energy trade and the rapid deployment of clean energy technologies. The agreement reflects longstanding commitments by the Biden-Harris Administration to tighten US collaboration with the region, the US ASEAN Strategic Partnership. Through this cooperation, USAID and ASEAN seek to increase the regional renewable energy share and the installed renewable energy capacity to 23 percent and 35 percent, respectively, by 2025. This transition will depend on the gradual phasing out of coal alongside the introduction of LNG, wind and solar to its energy supply. In its recently released report, ASEAN Capacity Building Roadmap on Energy Investment, ACE emphasized that meeting this ambitious 35% goal would only be possible through international investment in renewables, saying, "There is an urgency to attract private finances for clean energy investments." This desire for increased foreign investments presents a singular opportunity for US business both as a partner in this transition and to advocate for policies which incentivize investment in these markets.  

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