Monday, June 5 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Jun 05
Week of May 29
Week of May 22
Week of May 15
Week of May 08
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Massive scale up of clean energy investments in Southeast Asia is essential to meet climate targets

    March 27, 2023 - M2 PressWIRE


      Greater transparency around the financial performance of renewables projects, stronger regulatory frameworks and risk management tools are needed to boost clean energy investment in the ASEAN region, according to a new report by Imperial College Business School and the International Energy Agency (IEA).

      The impact of climate change is particularly acute in Southeast Asia, both from an energy security and a climate change perspective. A growing population and rapid urbanisation is increasing energy demand - the region's increasing import bill for gas and oil could reach over 5% of region's GDP by 2030.

      The report calls for a rapid scale-up of investment across the entire spectrum of clean energy solutions and technologies, especially in renewables, where the gap is particularly acute. And, according to the report, both public and private sector involvement is needed for this.

      According to the IEA's Sustainable Development Scenario, an annual investment of about USD 180 Billion in clean energy is required in Southeast Asia by 2030 to maintain a trajectory compatible with the region's climate goals. Current levels of clean energy investment stood at an average of USD 30 Billion per year between 2016-2020.

      With this investment gap in mind, the report authors outline a number of priorities for policymakers and market regulators that would significantly improve the investment climate at a time when clean energy investing has never been so important.

      Led by Mili Fomicov, a Researcher at Imperial College Business School's Centre for Climate Finance & Investment, the report explores the risks and returns, as well as the cost of capital for clean energy investment in the ASEAN region, identifying opportunities and barriers for private sector investors.

      According to Fomicov:

      "To accelerate the transition to a lower carbon economy in the region, international and domestic policy support, as well as better regulatory frameworks, will be critical. While there are things that individual countries in the region must do - which this paper outlines -there are also clear reginal priorities that could help mobilise private capital, globally"

      The report recommends the following actions that could boost investment in clean energy in the region. They include

      * Greater transparency and the wider availability of data around the financial performance and cost of capital for clean energy projects

      * Stronger regulatory frameworks concerning remuneration for renewables projects

      * More robust financial market frameworks for renewables and transition investments

      * An enhanced role for development finance institutions (DFIs) and blended finance

      * Greater access to risk hedging tools to address credit and currency risks for private investors

      * Improved power system connectivity across the region.

      You can download the report via this link:

      Report authors: Mili Fomicov, Mike Waldron, Matt Jenkins, Tanguy de Bienassis

      This report was supported by the Singapore Green Finance Centre.


      Association of Southeast Asian (ASEAN) Member States include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam




    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.