The Asian Development Bank (ADB) has launched a $70bn Pan-Asia Power Grid Initiative to enhance energy and digital infrastructure in Asia and the Pacific by 2035. The initiative aims to connect national and subregional power systems to facilitate the cross-border flow of renewable energy, integrating 20GW of renewable energy and reducing regional power sector emissions by 15%. ADB plans to raise $50bn by 2035 to develop extensive cross-border power infrastructure, prioritizing transmission, grid integration, and renewable energy projects. This initiative will also establish 22,000 circuit-kilometres of transmission lines, enhance energy access for 200 million people, create 840,000 jobs, and involve private sector co-financing alongside ADB's own resources.
https://www.power-technology.com/news/adb-70bn-plan-asias-energy-digital-infrastructure/