r

ARacetotheTop

SOUTHEASTASIA

ARACETOTHETOP:SOUTHEASTASIA2024

GLOBALENERGYMONITORREPORT|JANUARY2024|

2

Global

Energy

Monitor

ABOUTGLOBALENERGYMONITOR

GlobalEnergyMonitor(GEM)developsandanalyzesdataonenergyinfrastructure,resources,anduses.Weprovideopenaccesstoinformationthatisessen-tialtobuildingasustainableenergyfuture.Followusat

andonTwitter

@GlobalEnergyMon

.

ABOUTTHEGLOBALSOLARANDWINDPOWER

TRACKERS

TheGlobalSolarPowerTrackerisaworldwidedatasetofutility-scalesolarphotovoltaicandsolarthermalfacilities.Itincludessolarfarmphaseswithcapacitiesof20mega-

watts(MW)ormore(10MWormoreinArabic-speaking

countries)andmediumutility-scaleprojectsdownto1MWglobally.TheGlobalWindPowerTrackerisaworldwide

datasetofutility-scale,onandoffshorewindfacilities.It

includeswindfarmphaseswithcapacitiesof10megawatts(MW)ormore.

AUTHORS

JannaSmithisaresearcheratGlobalEnergyMonitor.

KasandraO’MaliaistheprojectmanagerfortheGlobal

SolarPowerTracker.ShradheyPrasadistheprojectman-agerfortheGlobalWindPowerTracker.NassosStylionouisthedatavisualizationanalystatGlobalEnergyMonitor.IngridBehrsinisthedirectoroftheRenewables&OtherPowerprogramatGlobalEnergyMonitor.

EDITINGANDPRODUCTION

DesignandpagelayoutbyDavidVanNess.FiguresandmapsbyNassosStylianou.EditingcontributionswereprovidedbyStefaniCoxandDavidHoffman.CopyeditsbyAmandaDeBord.

PERMISSIONS/COPYRIGHT

Copyright?GlobalEnergyMonitor.DistributedunderaCreativeCommonsAttribution4.0InternationalLicense.

FURTHERRESOURCES

Foradditionaldataonproposedandexistingsolarprojects,see

SummaryData

oftheGlobalSolarPowerTracker.ForlinkstoreportsbasedontheGlobalSolarPowerTracker

data,see

Reports&Briefings

.ToobtainprimarydatafromtheGlobalSolarPowerTracker,see

DownloadData

.

Foradditionaldataonproposedandexistingwindprojects,see

SummaryData

oftheGlobalWindPowerTracker.ForlinkstoreportsbasedontheGlobalWindPowerTracker

data,see

Reports&Briefings

.ToobtainprimarydatafromtheGlobalWindPowerTracker,see

DownloadData

.

Supplementaryinformationonthemethodologyusedforthisreportcanbefoundonour

methodologywikipage

.

ACKNOWLEDGEMENTS

Thisreportwasmadepossiblewithsupportfromthe

QuadratureClimateFoundation.GEMgratefullyacknowl-edgesthepeerreviewandhelpfulfeedbackfromDr.

ChalieCharoenlarpnopparut(

SDGMove

),DeonArinaldo

(InstituteforEssentialServicesReform

),andDimitri

Pescia(

AgoraEnergiewende

).

MEDIACONTACT

JannaSmith

Researcher,GlobalEnergyMonitor

janna.smith@

ABOUTTHECOVER

Photocopyright?2022benjawanasawalapsakul/

Shutterstock.

Global

Energy

Monitor

ARacetotheTop2024:SoutheastAsia

OperatingsolarandwindcapacityinSoutheastAsiagrowsbyafifthsincelastyear,butonly3%ofprospectiveprojectsareinconstruction

INTRODUCTION

ASEANcountries1collectivelyhaveoneofthe

fastest-growingeconomies

intheworld,withanincreasingenergydemandtomatch.Astheaverageglobalenergydemand

grewby16%

between2015and2021,ASEANdemandgrewby22%inthesametimeperiod.AccordingtotheInternationalEnergyAgency(IEA),energy

demandacrossASEANcountriesisexpectedto

growby3%

annuallyuntil2030.

Despitetheireconomicresources,ASEANcountriesfaceadualchallengein

seekingtofulfillenergytransitiontargetsamidstrapidgrowth,giventheeffectsofclimatechange.

Amongthemostvulnerable

,thesecountriesarealready

experiencing

flooding

,

drought

,

risingsealevels

and

heatwaves

,allofwhichare

strainingelectricitysupplies

inthecontextofgrowingenergydemand.

ASEANmemberstateshavesetacollectiverenewableenergycapacitytargetof

35%

by2025.Includingalltypesofrenewablepower,theregionisalreadyclose

tomeetingitsgoalbycurrentlyhaving

32%

ofitstotalcapacitysourcedfrom

renewables.Theregioncurrentlyhas28gigawatt(GW)oflargeutility-scale2solarandwindpowerinoperation—accountingfor9%oftotalelectricalcapacityintheregion.ASEANwouldhavetobuild17GWofutility-scalewindandsolarcapacityby2025toreachthisgoal.Withonlya3%renewablecapacityincreasenecessarytomeetthistarget,ASEANcountriesareexpectedtonotonly

meetthisgoal

,but

surpassit

.

1.TheAssociationofSoutheastAsianNations(ASEAN)memberstatesincludeBrunei,Cambodia,

Indonesia,Laos,Malaysia,Myanmar,thePhilippines,Singapore,Thailand,andVietnam.Although

TimorLesteisnotyetanofficialmemberstateofASEAN,itisconsideredthe

11thmember

inprincipleandwaspresentat

ASEAN’s

43rdSummitinIndonesia.Therefore,forthepurposeofthisreport,

TimorLesteisconsideredapartofASEAN.Pleaserefertothe

methodologypage

forafulllistof

countriesinthereport.

2.GEMcatalogsallsolarinstallations20MWandgreaterandallwindinstallationsgreaterthan10MW.Both“l(fā)argeutility-scalesolar”and“utility-scalesolar”areusedthroughoutthetexttorefertosuch

projects.

GLOBALENERGYMONITORREPORT|JANUARY2024|3

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Atthesametime,however,continuedsupportforgasandcoal,regulatoryhur-

dles,andpoliciesunsupportiveofrenewableenergybuildoutarestymyingthe

rapidtransitionthatisnecessarytobreaktheregion’sdependenceongasandcoalandprogressrenewableenergyinASEANcountries.Whiletheregionhaspoten-tialtoincreaseitsrenewablescapacityseven-fold—thisreportdocumentsover

220GWofdocumentedprospective3utility-scalesolarandwindcapacity—only3%ofASEANcountries’totalprospectivecapacityiscurrentlyinconstruction.Theglobalaverage,barringChina,isovertwicethatofASEANcountries,at7%prospectivecapacityunderconstruction.

Keyfindings

■ASEANcountrieshaveover28GWofoperatingutility-scalesolarandwindcapacityanda20%increaseinoperatingcapacitysinceJanuary2023andmakeup9%ofASEANcountries’totalelectricalcapacity.

■Vietnamhasthelargestshareofoperatingutility-scalesolarandwindcapacityintheregion(19GW).ThailandandthePhilippinesfollow,eachwith3GWofoperatingutility-scalesolarandwindcapacity.

■ThePhilippinesandVietnamareemergingleadersglobally.With99GWand86GWrespectivelyforprospectiveutility-scalesolarandwind,theyhavethe8thand9thlargestprospectivecapacityworldwide.

■TheASEANcountrieshavealmostfivetimesmoreprospectiveoffshorewindpowerthanprospectiveonshorewindintheregion,whileprospectiveoff-

shorecapacityintheregion(124GW)isnearlytwicethatofthecurrentglobaloffshoreoperatingcapacity(69GW).

■InorderforASEANcountriestomeettheirgoalof35%installedrenewable

energycapacityby2025,17GWofadditionalutility-scalesolarandwind

capacityneedstobecomeoperationalamongASEANmembersinthenexttwoyears,yetonly3%(6GW)ofits220GWofprospectiveutility-scalesolarand

windiscurrentlyinconstruction.

3.Prospectiveprojectsareanyprojectsthatareeitherannounced,inpre-construction,orunderconstruction.Additionalterminologyinformationcanbefound

here

.

GLOBALENERGYMONITORREPORT|JANUARY2024|

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I.ASEANCOUNTRIESHAVEINCREASEDOPERATING

UTILITY-SCALESOLARANDWINDBY20%SINCEJANUARY2023

GlobalEnergyMonitor’sGlobalSolarPowerTracker

andGlobalWindPowerTrackercurrentlycatalog

morethan28GWofoperatingutility-scalesolarandwindcapacityacrossASEANcountries,a20%year-

over-yearincreaseinoperatingcapacitysinceJanuary2023.Whileutility-scalesolarcontributesthebulkoftheoverallcapacityincrease(3GWor17%growth),

itwasoperationalwindcapacitythatsawthelargestcomparativerise(2GW,or29%growth)sinceJanuary2023.Offshorewinddevelopmentaccountsfor2GWofatotalof9GWofoperatingutility-scalewindcapac-ity;thisisnoteworthygiventhetechnicalchallengesandassociated

highercosts

ofoffshorewindcom-

paredtoonshorewind.

Table1:OperatingUtility-ScaleSolar&WindPowerinSoutheastAsia

Country-leveloperatingutility-scalesolar&windpowercapacity,inmegawatts(MW)

Country

OperatingSolar

OperatingWind

OperatingSolar&Wind

Vietnam

13,035

6,466

19,501

Thailand

1,041

2,092

3,133

Philippines

2,343

675

3,018

Malaysia

1,577

0

1,577

Cambodia

429

0

429

Myanmar

190

0

190

Singapore

186

0

186

Indonesia

21

157

178

Brunei

0

0

0

Laos

0

0

0

Timor-Leste

0

0

0

Note:Dataincludesonlysolarprojectphaseswithacapacityof20megawatts(MW)ormoreandwindprojectphaseswithacapacityof10MWormore.

Source:GlobalSolarPowerTracker,GlobalWindPowerTracker

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Vietnamhasthelargestoperatingcapacityofutility-scalesolarandwind,followedbyThailandandthePhilippines

Vietnamisthecurrentregionalleaderintermsof

operatingutility-scalesolarandwindcapacity,with

morethandoublethecapacityoftheothermembercountriescombined(over19GWcomparedto9GW).Operationalutility-scalesolarandwindcapacitymakeup25%ofVietnam’stotalenergymix,comparedto

theaverageamongASEANnationsof9%.4Startingin2017,Vietnamdeployedaseriesofcompetitiveandincentivizedinvestmentpoliciestobringutility-scalesolarprojectsintooperation,leadingtoaboomin

solardevelopment.Two

feed-in-tariff(FIT)programs

weredeployedbyVietnam’sstate-ownedutilityfrom

2017to2020

.Upontheexpirationoftheseprograms,Vietnamfailedtoadministerareplacement

pricing

policy

.CoupledwithCOVID-19pandemic-ledsupplychain

disruptions

,manyprojectswerenotoperationalbeforeFITcut-offdates,andwereleftwithoutlong

term

guidance

forfurtherprojectdevelopmentand

gridintegration.ThoughVietnamstilladdedover

12GWofutility-scalesolarcapacityfrom2019–2021,gapsinrenewableenergypolicyhavecurtailedthe

operationalizationofutility-scalesolarandwind,with2022seeingthecommissioningof1GWcomparedtonearly4GWin2021.

Figure1:OperatingSolar&WindPowerinSoutheastAsia

Totaloperatingutility-scalesolar&windpowercapacitybycounty,ingigawatts(GW)

Note:Dataincludesonlysolarprojectphaseswithacapacityof20megawatts(MW)ormoreandwindprojectphaseswithacapacityof10MWormore.

Brunei,Laos,andTimor-Lestedonothaveanyoperatingcapacity.

Source:GlobalSolarPowerTracker,GlobalWindPowerTracker

4.Fordetailsondefinitionsandmethodologyseethe

methodologypage

.

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Map1:SoutheastAsia’sOperatingWindFarms

LocationsofoperatingwindpowerinSoutheastAsia,circlessizedby

megawatt(MW)capacity

Note:Dataonlyincludeswindprojectphaseswithacapacityof10MWormore.

Source:GlobalWindPowerTracker

Map2:SoutheastAsia’sOperatingSolarFarms

Locationsofoperatingutility-scalesolarpowerinSoutheastAsia,

circlessizedbymegawatt(MW)capacity

Note:Dataincludesonlysolarprojectphaseswithacapacityof20metawatts(MW)

ormore.

Source:GlobalSolarPowerTracker

GLOBALENERGYMONITORREPORT|JANUARY2024|

8

ThailandandthePhilippineseachhavemorethan

3GWofoperatingutility-scalesolarandwindcapacity.Thailandhasthe

secondlargesteconomyofASEAN

nations

,andisseenasa

low-riskcountry,withfew

barriers

forinvestmentinutility-scalesolarandwindprojects.ThisviewhasfacilitatedthegrowthofThai-land’s3GWofoperationalutility-scalesolarandwindcapacity,nearly67%ofwhichisfromonshorewind

development.ThePhilippineshostsastreamlined

projectbiddingsystem,with

predominantlyprivatized

powergeneration

,allowingforanunencumbered

pipelineforprojectdevelopment.Three-quartersofthePhilippines’operationalutility-scalesolarandwindcapacitycomesfromsolar.

Figure2:Solar&WindPowerCapacityinSoutheastAsia

Proportionofpowercapacitybrokendownbyaggregatepowersource;dashedlineshowsglobalaverageforsolarandwind

Source:EmberClimate

GLOBALENERGYMONITORREPORT|JANUARY2024|

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II.THEPHILIPPINESANDVIETNAMCONTRIBUTE80%OFASEAN’SPROSPECTIVEUTILITY-SCALESOLARANDWINDCAPACITY,BUT

CONSTRUCTIONRATESREMAINLOW

Theleadersforprospectiveutility-scalesolarandwindcapacityamongASEANcountriesarethe

PhilippinesandVietnam,withover185GWin

announced,pre-construction,andconstructionstatus.Collectively,thesecountriescontributeover80%

ofASEAN’sprospectiveutility-scalesolarandwind

capacity.Over60%ofthisprospectivecapacitycomesfromoffshorewinddevelopmentinVietnamandthePhilippines(72GWand52GWrespectively).However,only6.3GW(3%)ofallprospectivecapacityinASEANiscurrentlyunderconstruction.

ThePhilippinesaloneisresponsiblefornearlyhalf(45%)oftheprospectivecapacityofASEANcountries.ThisismorethanfivetimestheprospectivecapacityofanyotherASEANcountry,barringVietnam.The

Philippineshasestablishedits

GreenEnergyAuction

Program(GEAP)

togrowitsrenewableenergysector.ThePhilippines’latestauction,inMarch2023,(GEA-2)encouragedover

300bids

todevelop

3GW

ofsolar,

onshorewind,andbioenergywith2024–2026start

dates.AsGEA-2wasinitiallysetuptofacilitatethe

developmentofover11GW,theauctionwasevidently

largelyundersubscribed

.Onthebrightside,how-

ever,thecapacitywonbybiddersdemonstrateda

75%increase

overthefirstauctionin2022,indicatinggrowinginterestinthePhilippines’renewableenergysector.Offshorewindcomprisesthemajority(52%)ofthePhilippines’prospectiveutility-scalerenewablepowercapacity,withfivetimesmoreoffshorewindthanonshore.InApril2023,thePhilippinesadmin-isteredan

executiveorder

tooutlinecooperation

Table2:ProspectiveUtility-ScaleSolar&WindPowerinSoutheastAsia

Country-levelprospectiveutility-scalesolar&windpowercapacity,inmegawatts(MW)

Country

ProspectiveSolar

ProspectiveWind

ProspectiveSolar&Wind

Philippines

36,587

62,809

99,396

Vietnam

10,195

76,023

86,218

Indonesia

16,530

2,486

19,016

Myanmar

340

4,732

5,072

Laos

304

3,680

3,984

Thailand

2,702

435

3,137

Cambodia

2,470

0

2,470

Malaysia

2,372

0

2,372

Singapore

624

50

674

Brunei

30

0

30

Timor-Leste

0

0

0

Note:Dataincludesonlysolarprojectphaseswithacapacityof20megawatts(MW)ormoreandwindprojectphaseswithacapacityof10MWormore.

Source:GlobalSolarPowerTracker,GlobalWindPowerTracker

GLOBALENERGYMONITORREPORT|JANUARY2024|

10

betweenprivateinvestorsandthegovernmentintheadministrationofoffshorewindpower.Sincethe

order’senactment,offshorewind

contracts

morethan

doubledtonearly80

,fora

totalcapacity

of61GW.

WhileVietnamhasover86GWofprospectivecapac-ity,including72GWofprospectiveoffshorewind

capacity,only2%isintheconstructionphase.The

discrepancybetweenprospectiveandin-constructioncapacityisdueinparttoVietnam’slackofconciseandreliablerenewableenergy

policies

thatcouldserveasacrucialroadmapforprojectimplementation.This

hasleftmanyfinancierswithoutincentiveto

move

forward

withdevelopment.GlobalEnergyMonitorhascatalogednearly40GWofutility-scalesolarandwindprojectsinVietnamthathaveseennoprogression

orannouncementsinthepasttwoyears—atwhichpointtheseprojectsareconsideredshelved—further

demonstratingalackofincentivetoprioritizesolarandwindconstructionandgridconnectioninthecountry.

AnadditionalchallengethatVietnam’srenewable

energyeffortsarefacingistheenablingofa

Just

EnergyTransitionPartnership(JETP),

withthe

supportofG7countries,inordertoestablishmech-

anismstoaccelerateVietnam’senergytransition

andreducethefinancialhurdlestodeveloparobustrenewableenergyeconomy,asitbacksawayfrom

fossilfueldependence.InMay2023,Vietnamreleaseditsdelayed

NationalElectricityDevelopmentPlanfor

2021–2030

,alsoknownasthePowerDevelopment

Plan8(PDP8).AlongwithmappingoutVietnam’s

futureenergymix,thisdocumentoutlinesthetra-

jectoryofVietnam’spowerdevelopmentstrategyonimprovingthetransmissionofelectricityfordomestic

Figure3:ProspectiveSolar&WindPowerinSoutheastAsia

Totalprospectiveutility-scalesolar&windpowercapacitybycountry,ingigawatts(GW)

Note:Dataincludesonlysolarprojectphaseswithacapacityof20megawatts(MW)ormoreandwindprojectphaseswithacapacityof10MWormore.

Timor-Lestedoesnothaveanyprospectivecapacity.

Source:GlobalSolarPowerTracker,GlobalWindPowerTracker

GLOBALENERGYMONITORREPORT|JANUARY2024|

11

use.Forinstance,PDP8statesVietnam’sgoalof

achievingover27GWofoperationalwindcapacityby2030,afourfoldincreaseonitscurrentoperational

capacityof6.5GW.ThetrueimpactofVietnam’sJETPandPDP8onthedevelopmentofutility-scalesolarandwindpowerinVietnamare

yettobedetermined

,as

thealignmentofthesepoliciesandfundingschemesarestillindevelopment.

Indonesiahas19GWofprospectiveutility-scalesolarandwindcapacity,16.5GWofwhichissolar.Thir-

teenGW(70%)ofthis19GWofprospectivecapacityisinannouncedphases.Noprojectsarecurrentlyunderconstruction.

WithinASEANcountries,Laosstandsoutforits

substantialprospectiveutility-scalesolarandwind

capacityrelativetothesizeofitseconomy.Notably,

Laos’prospectiveutility-scalesolarandwindcapacityrivalsthatofThailand(bothexceed3GW),despite

Laos’economybeingonly

2%

ofthesize.Further-

more,withaneconomyjust3%ofthatofMalaysia’s,Laos’prospectiveutility-scalesolarandwindbuildupsurpassesMalaysia’sbymorethan150%,highlightingLaos’ambitiontopunchaboveitseconomicweight.Laos’developmentofutility-scalesolarandwindis

fueledbyfinancial

collaboration

withASEANpart-

ners.Impressively,LaosissettohouseASEAN’slarg-estonshorewindfarm,

Monsoonwindfarm

,whichis

currentlyinconstruction

withanexpectedcapacityof600MW.

Figure4:HowDoesProspectiveSolar&WindCapacityRelatetoEconomicWealthin

SoutheastAsia?

Totalprospectiveutility-scalesolar&windpowercapacitybycountryinmegawatts

(MW)inlogscalealignedwithwealthinGDP

Note:Dataincludesonlysolarprojectphaseswithacapacityof20megawatts(MW)ormoreandwindprojectphaseswithacapacityof10MWormore.

Source:GlobalSolarPowerTracker,GlobalWindPowerTracker,IMF

GLOBALENERGYMONITORREPORT|JANUARY2024|

12

Map3:SoutheastAsia’sProspectiveWindFarms

LocationsofprospectivewindpowerinSoutheastAsia,circlessizedby

megawatt(MW)capacity

Note:Dataincludesonlywindprojectphaseswithacapacityof10MWormore.

Source:GlobalWindPowerTracker

Map4:SoutheastAsia’sProspectiveSolarFarms

Locationsofprospectiveutility-scalesolarpowerinSoutheastAsia,

circlessizedbymegawatt(MW)capacity

Note:Dataincludesonlysolarprojectphaseswithacapacityof20megawatts

(MW)ormore.

Source:GlobalSolarPowerTracker

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13

III.ASEANABILITYTOREACHREGIONAL2025RENEWABLEENERGYTARGETSHINGESONREDUCINGGASANDCOALUSE

WhileASEANmemberstatesareworkingtowards

ttu2aoral0flarrt23iengm52aes%ftdparyoat,oerfhimlen3yanc5vrutl%eeunandanaoeinmdfnwtogbsaopuibottepalpireolpeauooprtpsaironttefwiigorvnearergtreAiehninnSsygeEeedwAerargnaosNybiepllrypoAegwoaySelteEintccraAea,yipr,NnggAaeayccobSoitcElthueyaAenpabNrtanymr’csdiieatsyl,

bioenergy,solar,andwind

.

Indeed,thegapbetweenoperationalcapacityandthetargeted35%canbe

easilymet

withutility-scalesolarandwindalreadyinASEANcountries’prospective

pipelines.EveninthecontextofASEANcountries’

rapidgrowthinenergydemand—anestimated3%

annualrise

until2030—ASEANcountriesonlyneed

tocommissiontheir6.3GWofutility-scalesolarandwindcurrentlyinconstruction,plusanadditional

10.7GWby2025,inordertomeetthisgoal.5Withover220GWofprospectiveutility-scalesolarandwindinprospectivephasesofdevelopment,and23GWofthissettobecomeoperationalby2025,ASEANcountrieshavethepotentialtosurpassthisgoal.

Furthermore,thisrelativelyunambitiousregional

targetallowscountrieswithsignificantexistinghydro-powerandrenewableenergy,likeLaos,Cambodia,

Malaysia,andVietnam,wheretheaveragerenewableenergymixstandsat58%,tocompensateforcoun-triesthatcontinuetorelyheavilyonfossilfuels,suchasIndonesiawithlessthan15%renewableenergy.Althoughnationalpoliciesdesignedtoattractrenew-ablepowerinvestmentsareaclearsignthatASEANcountriesaregearinguptoincreasetheirsolarandwindcapacity,thismobilizationisunderminedby

entrenchedfossilfuelinfrastructurewhichrestrictsnewinvestmentinutility-scalesolarandwind.

ytttudhoooteuieupctioneettynnngh-tdeescirenconayslcleeeet,fnrlsoeeaoftennl7gdattrischrdmr%aireihbsiiotLspmenaiiupnsilanoasngkaioiaec’nsglndertteriSsanteErhld,lgAeendNgaPethvndeioeiaml“l(fā)niospiaatoppnelnmipednspnseeenasrtrggVtyniotepAuoetortnn3pelaEe0ifac”mA%ciireNnenslgmfocGciuoorfkaorouaAelstwdlnlhS-ayaftteEntirhtrreAidoeeretNbdscahn,oteectpeaaroonnleouawndeaefIsnwcenndAsc;cotioodSaetcuuEa,ia2tnslAp0toioiNan1nfffyc7ossggcittrtaoaaeFyaslusaol-phndebfiredpostpadtrysilbrscieeo2safix0esnup2iemgei5annlc,mweretauioafttoseneyshaes,tlycsaawplaiicnsSnloinltfdmikhnuuoteaeia,slll,

yg

Malaysia

and

Thailand

representASEANcountries

withthehighestconsumptionandproductionoffossilfuels,aconcerningstatusascontinued

fossilfuelus

estifleseffortstoreachnetzerogoals.

Insufficientinvestmentinreinforcingthegridinfra-structureisanotherpersistenthurdleforintegratingutility-scalesolarandwindpowerintocountries’

electricalgrids.Forexample,Vietnam’slatestsolar

fleethasexperiencedan

onslaughtof

obstacles

related

togridintegration

,whichmayserveasabellwethertoinvestorsofthechallengestheycouldfaceinASEANcountriesopeningsolarandwindmarkets.

However,itisevidentfromprogressinnationalenergypoliciesthatASEANcountriesaremakinganefforttoattractprivateinvestmentinsolarand

5.Fordetailsondefinitionsandmethodologyseethe

methodologypage

.

ARACETOTHETOP:SOUTHEASTASIA2024

GLOBALENERGYMONITORREPORT|JANUARY2024|

14

winddevelopmenttohelpalleviatethishurdle.Theseinvestmentsarebeingcourtednotonlyfromout-

sidetheregion,butalsoamongASEANcountries.

Multilateralpowerpurchasing

and

transmission

infrastructure

betweenASEANcountriesisseeing

rapiddevelopment,suchas

Singapore’spartnerships

withIndonesiaandCambodia

toimport3GWof

renewableenergyby2028.Intentionalandtranspar-entpolicycanguideASEANcountriesandsendclearsignalstoinvestorsthattheyarecommittedtothe

energytransition.

Figure5:OnlyaFractionofProspectiveSolar&WindPowerinSoutheastAsiaIs

CurrentlyInConstruction

Statusofprospectiveutility-scalesolar&windpowercapacity,ingigawatts(GW)

Howtoreadthischart:

widthofbars=%ofprospectivecapacitybystatus

heightofbars=totalprospectivecapacity,ingigawatts(GW)

ConstructionPre-ConstructionAnnounced

200GW

150GW

100GW

50GW

0GW

Philippines

Vietnam

Indonesia

combined

Othercountries

Myanmar

Laos

0

80

60

40

20

100

Percentageofprospectivecapacity(%)

Note:Dataincludesonlysolarprojectphaseswithacapacityof20megawatts(MW)ormoreandwindprojectphaseswithacapacityof10MWormore.

OthercountriescombinedincludesThailand,Cambodia,Malaysia,Singapore,andBrunei.Timor-Lestedoesnothaveanyprospectivecapacity.

Source:GlobalSolarPowerTracker,GlobalWindPowerTracker

GLOBALENERGYMONITORREPORT|JANUARY2024