With its diverse landscapes, economies, cultures, and development, ASEAN possesses ample renewable energy (RE) resources that can contribute to sustainable development. However, despite setting a target of achieving a 23% RE share of the total primary energy supply (TPES) by 2025 in the ASEAN Plan of Action for Energy Cooperation (APAEC) Phase II, the actual growth of RE only reached 14.4% by 2021, leaving a significant gap that needs to be closed within a short timeframe.
To accelerate the deployment of RE beyond 2025, ASEAN is developing the ASEAN Renewable Energy Long-Term Roadmap that will serve as a reference for the countries to adopt near-, medium-, and long-term strategies that facilitate robust energy transition and help ASEAN harness the full potential of renewable energy sources for a sustainable future.
Recognising the importance of attracting energy investments and sustainable financing, ASEAN prioritises key areas to strengthen regional energy investments and financing capabilities.
The roundtable will discuss the current and future energy investment landscape and finding the solution to bridge the gap between the current trajectory and the targets, identifying innovative financial sources, setting budget allocation, and building strong collaboration between public with the private sector and international fundings.