Fossil fuels still dominate the region's energy mix, making up about 83% in 2020 compared to renewables' share of 14.2% in the same period, according to the ASEAN Center for Energy.
Energy demand in Southeast Asia has increased by an average of 3% each year over the past two decades — a trend that will continue to 2030 under current policy settings, according to the If Southeast Asian nations do not make significant discoveries or add to existing production infrastructure, the region will become a net importer of natural gas by 2025 and coal by 2039, the ASEAN Center for Energy estimated. That's going to raise fossil fuel prices and exert further strain on consumers.
The roadmap identified 10 flagship projects, including plans to build a one-gigawatt solar photovoltaic plant — Southeast Asia's largest — that can directly covert sunlight into energy, the ministry said. Under the plan, all coal plants must be converted to alternative fuels or cease operations by 2050, said the release. Although coal will remain an important energy source in the near term, accounting for an estimated 20% of the country's total energy mix in 2030, it would be a decrease from nearly 31% in 2020, said Reuters.similarly emphasizes an uptake in renewable energy.
Last year, Singapore's Keppel Electric signed a two-year agreement with Laos to import up to 100MW of renewable hydropower through Thailand and Malaysia. This marked Singapore's first renewable energy import, as well as the first multilateral cross-border electricity trade involving four ASEAN members, reported
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