usually because they are, or will become, the asset owner. For special purpose vehicles and joint ventures, investment is split between SOEs and private enterprises based on their respective equity shares. So far, all interconnectors have been financed as two All interconnectors in ASEAN, including both generation-to-grid and grid-to-grid projects, have been developed using a split project model. In this arrangement, the transmission line is divided at the border, with each party responsible for financing and operating the portion within its jurisdiction. While the split model is arbitrarily by geography rather than by the distribution of benefits or risks, and the investment. Cost allocation under this model can be particularly complex in cases where the line passes through third-party or international waters. Alternative models can help address these limitations. A joint bilateral project purpose vehicle spanning multiple jurisdictions, with shared ownership between the participating SOEs and/or private enterprises. This model, which has been (Denmark-Netherlands), Viking Link (Denmark-United Kingdom) and NordBalt (Sweden-Lithuania) can provide benefits for project co-ordination, end-to-end risk management, and to reduce the risk of unilateral actions by aligning the financial interests of governments and utilities. Implementation can be complex as these projects may require regulatory changes, particularly in jurisdictions that restrict private or foreign ownership of transmission infrastructure. ASEAN has no