Advancing Towards a Renewable Energy Future in South-east Asia
Key Ideas
  • Global progress in renewable energy with 473GW added in 2023, yet a significant gap remains to reach the goal of tripling renewables by 2030.
  • Asean faces challenges in infrastructure, workforce skills, and financing to accelerate its renewables capacity, with a focus on the Asean Power Grid.
  • Implementing technical training programs and leveraging partnerships can address the mismatch between job seekers' skills and green energy requirements.
  • Intensified international collaboration and innovative financing mechanisms are crucial to mobilize the necessary investment of US$210 billion annually until 2050 for the energy transition in South-east Asia.
The article discusses the progress and challenges faced by South-east Asia, particularly Asean countries, in transitioning towards a renewable energy future. While global renewable power capacity saw unprecedented growth in 2023, the region still needs to triple its renewables by 2030 to meet climate goals set at the United Nations COP28 conference. Asean countries aspire to cover a significant portion of their electricity needs with renewables, but they face barriers like inadequate infrastructure and workforce skills. The Asean Power Grid and regional power interconnection are highlighted as enablers for decarbonization. Moreover, the region requires substantial investments, estimated at US$210 billion annually, to accelerate the energy transition. To address the skills gap, technical training programs and partnerships between governments and the private sector are suggested. The article emphasizes the importance of international collaboration and innovative financing to mobilize the needed funds. Green hydrogen emerges as a crucial element in South-east Asia's energy future, offering opportunities for job creation and technological advancements. South-east Asia could gain a significant share of renewables jobs by 2050 with the right policies and support. The article notes that while progress has been made, current national plans fall short of tripling renewables by 2030. Lastly, a recent high-level forum organized by Irena and the Singapore Government aimed to explore strategies for advancing the region's renewable energy sector. Overall, the article presents a positive outlook on the potential benefits and challenges in South-east Asia's journey towards a renewable energy future.
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