Working together in support of the U.S.- Asia Pacific Comprehensive Energy Partnership (USACEP), the United States, Brunei, and Indonesia have strengthened and expanded energy and environmental cooperation across the Asia-Pacific region over the past year.
USACEP, launched by President Obama, Sultan Haji Hassanal Bolkiah of Brunei and President Susilo Bambang Yudhoyono of the Republic of Indonesia at the 7th East Asia Summit in 2012, works across existing regional forums to ensure affordable, secure, and cleaner energy supplies for the Asia-Pacific region.
The Partnership is focused on four regional priorities: renewables and cleaner energy; markets and interconnectivity; the emerging role of natural gas; and sustainable development.
Together, we have made strong strides towards these goals in 2013. In particular, Brunei has shown leadership on solar power and interconnectivity, and Indonesia has shown leadership on emerging opportunities in geothermal energy and natural gas.
As this partnership moves into its second year, the United States recognizes the valuable contributions of founding partners Brunei and Indonesia and will build on the inaugural year’s impressive progress by rotating to new partnerships, including with Singapore, a country strongly committed to the goals and priorities of USACEP.
To achieve the Partnership’s goals, the United States has made available up to $6 billion in financing that will drive U.S. energy investments in the region and support economic growth and jobs at home.
To maximize these financial resources and deepen trade and investment linkages, the Overseas Private Investment Corporation (OPIC) and the U.S. Trade and Development Agency (USTDA), supported by the Department of State, are establishing the Asia-Pacific Clean Energy Program at the U.S. Embassy in Bangkok.
The program will leverage USACEP resources to catalyze private U.S. investment in the Asia-Pacific region by offering a range of tools, such as financing, insurance, project preparation and technical assistance support, while enhancing U.S.-Asia Pacific business partnerships.
Over the past year, USACEP applied a whole-of-government approach to increase energy cooperation in its four key regional priorities.
In the coming year, the United States will continue its USACEP cooperation with its new regional partners to drive investment and open commercial opportunities for U.S. businesses in clean energy, which will help provide affordable, secure, and cleaner energy supplies for the Asia-Pacific.
