ADB launches $70 billion initiative to link digital networks, electricity grids across Asia-Pacific region
By 2035, ADB plans to connect 22,000 circuit-kilometres of transmission lines, integrate roughly 20 gigawatts of renewable energy across borders, increase energy access for 200 million people, generate 840,000 jobs, and reduce emissions from the regional power industry by 15 per cent
The Asian Development Bank (ADB) has unveiled a $70 billion plan to develop digital and energy infrastructure across the Asia-Pacific region by 2035. The initiative aims to improve Internet access, strengthen power grid connectivity and promote cross-border electricity trade.
Masato Kanda, President, ADB, said these two initiatives build the systems Asia and the Pacific need to grow, compete, and connect. "By linking power grids and digital networks across borders, we can lower costs, expand opportunity, and bring reliable power and digital access to hundreds of millions of people," he said.
The Asia-Pacific Digital Highway will help overcome the digital infrastructure gap and enable the region to benefit from AI-driven growth, while the Pan-Asia Power Grid Initiative will link national and subregional power systems to allow renewable energy to flow across borders.
In order to mobilise $50 billion by 2035 for cross-border power infrastructure that can unlock renewable energy at scale, ADB will collaborate with governments, utilities, the private sector, and development partners under the Pan-Asia Power Grid Initiative.
Moreover, transmission and grid integration, including cross-border lines, substations, storage, and grid digitalisation, will be the initiative's primary objective. Additionally, it will encourage power generation associated with the trading of electricity, such as hybrid generation-storage facilities, regional renewable energy hubs, and renewable energy export projects.
By 2035, ADB plans to connect 22,000 circuit-kilometres of transmission lines, integrate roughly 20 gigawatts of renewable energy across borders, increase energy access for 200 million people, generate 840,000 jobs, and reduce emissions from the regional power industry by 15 per cent.
Furthermore, ADB expects to finance about half of the $50 billion initiative from its own resources and raise the rest through co-financing, including from the private sector. Up to USD 10 million in technical assistance will support efforts to align regulations, adopt common technical standards, prepare feasibility studies and advance other work needed for major projects.
