Capital: Accelerating Investment in Renewables: Challenges and Opportunities
Wednesday 22 September 2021
This was the last event of a 3-part series of RENdez-vous for Southeast Asia. Participants and regional experts discussed investment challenges and opportunities.
Is the uptake of renewable energy in Southeast Asia a bit too little and a little too late?
To mobilise the uptake of renewable energy, ASEAN governments have laid out a five-year sustainability plan under the second phase of ASEAN Plan of Action for Energy Cooperation (APAEC) 2021-2025. This plan has set a 2025 target of 23% share of renewable energy in total primary energy supply and 35% in installed power capacity. This translates to approximately 40GW of renewable energy capacity to be added by 2025, which would require some tens or even hundreds of billions of dollars in capital.
Where would such enormous capital come from? How would we accelerate such an investment? What are the challenges and opportunities that lie ahead of us?
- Wandee Khunchornyakong Juljarern, Solar Power Company Group (SPCG PLC.) (Download Wandee’s slides)
- Tri Mumpuni, People Centered Business and Economic Institute (IBEKA)
- Simon Rolland, Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH
- Pariphan Uawithya, Climate and Energy Initiative, Rockefeller Foundation
- Krid Wongsa, REN21 (Download Krid’s slides)
Strategic Discussions for the Energy Transition in Southeast Asia
Many of Southeast Asia’s economies are still heavily dependent on fossil fuels and have yet to accelerate their uptake of renewables. According to WEF’s Energy Transition Index 2021 (which measures system performance and transition readiness), Singapore is indexed 21st among 115 countries, followed by Malaysia (39th), Thailand (55th), Vietnam (65th), the Philippines (67th), Indonesia (71st), Brunei (82nd) and Cambodia (93rd). The remaining countries excluded from the index are the least-developed economies: Lao PDR, Myanmar and Timor-Leste.
However, renewable-focused players in Southeast Asia are numerous and dynamic. In discussions with these players and building on their strengths, this new event series aims to create open discussions, asking: what are the barriers, the challenges and opportunities for Southeast Asia to move away from fossil fuels toward renewable energy? The RENdez-vous series brings together key players from governments, industry, civil society, and research.
The three events in the series are as follows:
- Policy and Governance: From Fossil Fuels to Renewables – Strategising the Energy Transition in Southeast Asia – 22 July (Click for details, slides and the video recording.)
- Technology: Re-imagining Renewable Energy Technology Futures for Southeast Asia – 19 August (Click for details, slides and the video recording.)
- Capital: Accelerating Investment in Renewables: Challenges and Opportunities – 22 September
What is a RENdez-vous?
REN21 hosts these events to inspire and to offer opportunities to learn and share across sectors. While each event is unique, one thing remains consistent: at every RENdez-vous there is time to meet and network with people from the greater renewables community, inclusive of many different sectors. Learn more and join the next event…