Representatives of Vietnam Institute of Energy, ADB and GEAPP at the event. (Source: GEAPP)

The grant to be administered by the ADB consists of 0.5 million USD financing from the Smart Energy Innovation Fund (SEIF) under the Clean energy financing partnership facility and 0.25 million USD financing from GEAPP.

At the event, ADB's Director, Emerging Areas, Energy Sector Office Cindy Cisneros-Tiangco emphasized: "ENABLE addresses key barriers by providing technical expertise, project development support, and innovative financing solutions that will help countries integrate more renewable energy into their grids".

"With energy demand growing rapidly across the region, battery storage represents a critical technology for ensuring stable, reliable, and clean power systems”. she added.

The need is urgent in Asia-Pacific, where renewable energy is expanding rapidly. The renewables capacity in Asia-Pacific is expected to grow by nearly 430 gigawatts (GW) from 2023 to 2028. Solar installations will account for two-thirds of the growth, the majority of which will be from utility-scale deployments. With this significant expansion of renewable energy, BESS solutions are essential for grid stability and renewable energy optimization.

Vietnam’s latest power development plan, approved in May 2023, aims to more than double the maximum power generated to 150GW by 2030, up from 69GW in 2020. The plan pivots away from coal and expects to achieve nearly half of total generating capacity from renewable sources. Vietnam is already a regional leader in this, with an installed capacity of 21GW in renewable energy, but faces power shortages due to a lack of transmission infrastructure and renewable energy integration.

Representative from Institute of Energy (Vietnam) Nguyen Manh Cuong shared during the event: “By 2030, Vietnam is aiming for 49% of its energy capacity to be from solar and wind power. But to get there, we’ll need battery energy storage systems. GEAPP has had our backs these past two years, supporting crucial studies on frequency control, replacing coal-fired power plants with renewables and BESS in North Vietnam, and provide blueprints for how BESS and solar power can strengthen our energy system. And now, with the newly launched ENABLE platform, we’re pushing even further to close the policy gap and bring BESS into Vietnam’s electricity market”.

In her part, Vice President, Southeast Asia at GEAPP Kitty Bu said: "The rapid growth of renewables in the region represents both .an achievement and a challenge. Through ENABLE, GEAPP is helping address the critical battery storage gap that could constrain the region's clean energy potential. Our approach is distinctive–we use philanthropic capital to reduce risk and mobilize greater investment from the private sector. Our collaboration with ADB enables us to address market barriers systematically and create conditions where BESS becomes an attractive, mainstream investment opportunity throughout the region".

The ENABLE platform will focus on accelerating BESS deployment through a comprehensive approach that includes technical assistance, pilot project preparation, and capacity-building initiatives for key stakeholders across the energy sector. It will help address key barriers to BESS adoption, including lack of technical understanding, high capital costs, concerns about cost impacts on consumers, and limited access to concessional financing–all critical for the region to achieve its green transition goals.

Over an initial three-year period, ENABLE will prioritize Vietnam, Mongolia, and Cambodia, with a customized approach based on each country’s stage of BESS development. With plans to scale up, the platform aims to expand its reach to additional countries in the region over time. Initial focus areas include private-led grid-scale BESS integration studies, policy frameworks, procurement guidelines, technical standards, application of digital tools like artificial intelligence, and innovative business models for storage deployment. Countries will receive targeted support for integrating BESS with their growing renewable capacity.

By creating fast-track bankable projects and enabling conditions for private investment, this landmark partnership between ADB and GEAPP aims to make BESS a cornerstone of the region’s sustainable energy future. ENABLE brings together diverse stakeholders, including the other development partners, and innovative financing approaches to establish a replicable project development model that will support the region's long-term clean energy transition while creating economic benefits across Asia-Pacific.