1. ASEAN's Energy Transition: Renewable Energy, Hydrogen, and Energy Efficiency for Future Growth (IRENA)

In the context of ASEAN's energy transition, IRENA's 1.5 - S highlights a significant push towards electrification, renewables, and energy efficiency. By implementing these measures, energy demand could be reduced by 22% compared to the Planned Energy Scenario. This approach will see electricity comprise 45% of the total final consumption, a marked increase from the current figure of below 20%. Additionally, renewable direct use, particularly bioenergy, will see growth. While fossil fuels will still be consumed, investments in energy efficiency will make up around one-third of investment, and the energy investment rate will increase from 1.1%/yr to 2.5%. Notably, hydrogen will play a crucial role in the industry sector and international bunkering.

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2. Solar Dominants Country’s Renewable Play: Insights from Malaysia, Thailand, and the Philippines (SEDA, EGAT, DOE)

Solar energy has been and will continue to be a crucial player in the ASEAN region's energy transition due to its cost-effectiveness compared to other renewable sources. However, each country has a distinct approach to utilizing solar energy. Solar in Malaysia, for instance, sees a CAGR of more than 9% during the forecast period of 2022 – 2027, in particular featured by the government supports for both Large-scale Solar Tender and Rooftop Solar Tender Program. In Thailand and the Philippines, Floating Solar Projects that utilize dams and natural lakes have become a top priority. Thailand’s EGAT in its Power Development Plan 2018-2030 has planed 16 projects with a capacity of 2725MW, employing floating solar technology combined with multipurpose dams. Laguna Lake in the Philippines also holds tremendous potential and is looking to install a. 1.3 GW FPV project on Laguna de Bay. The project is announced by Singapore developer Blueleaf Energy and Philippine local development Sun Asia.

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3. Accelerating ASEAN’s Energy Transformation through Energy and Battery Storage (Wärtsilä)

As IEA predicts that Southeast Asia collectively needs to install 1,100GW of renewable capacity to reach 85% of RE by 2050, Around 4,040 GW (1,200 GWh) of new energy storage capacity, including battery & non-battery are expected to be brought online over the next 8 years. The energy storage industry is amid of a period of very strong growth with annual additions climbing rapidly year on year in the near term. Amongst all applications, solar+storage, island grids, and stationary storage stand out with both environmental and economic benefits.

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4. Unleashing the Power of Offshore Wind – All Eyes on the Philippines

The Philippines is at the forefront of the offshore wind energy industry, having awarded 63 Offshore Wind Energy Service Contracts with a potential capacity of 45.774 GW. The Department of Energy has also taken steps to streamline the regulatory framework for offshore wind by issuing a Circular outlining the procedures and requirements for awarding service contracts, as well as an Executive Order to rationalize the regulatory process. This proactive approach by the Philippines government signals a strong commitment to leveraging the potential of offshore wind to meet the country's energy needs while also promoting sustainable development.

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5. Hydrogen and CCUS Gain Traction in ASEAN, Indonesia Takes the Lead (National Energy Council Indonesia)

Hydrogen and Carbon Capture, Utilization, and Storage (CCUS) are gaining increasing interest in the ASEAN region, with the Indonesian government taking a leading role in their development. As the largest and the most populous economy in Southeast Asia, Indonesia is focusing on developing reliable and affordable fossil fuel replacements to meet its energy needs. With limited energy storage facilities hindering the deployment of renewable energy and heavy emissions from the industry and transport sectors, the Indonesian government is prioritizing hydrogen and CCUS as possible decarbonization options. The government has set ambitious targets for the use of these technologies to reduce carbon emissions and promote sustainable development. Ammonia co-firing is also being explored as a means to further reduce carbon emissions from the power sector.

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6. Foreign Investment Interest Rise Higher than Ever (KPMG, IFC, Black & Veatch)

Foreign investment in renewable energy in the ASEAN region has been on the rise, with countries like the Philippines making updates to attract more foreign investors. The Philippines recently lifted its restrictions on foreign ownership in geothermal and ocean energy projects, allowing 100% foreign ownership. This move is expected to attract more foreign investment and increase the development of renewable energy projects in the country. Other countries in the ASEAN region have also been taking steps to attract foreign investment, including offering incentives and creating favorable policies to promote renewable energy development.

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7. [Spotlight] Philippines Prepares for the Second Round RE Auction: Open on May 3rd (DivinaLaw)

The Philippines is set to hold its second round of renewable energy auctions on 19 June, with a goal of adding 11,600 MW of renewable energy to the country's energy mix. The auctions will have a 20-year initial term for the Power Supply Agreement (PSA), renewable for another 20 years, with delivery date options of 2024, 2025 or 2026. The Department of Energy aims to add a total of 11,600 MW of renewable energy by 2026. The Green Energy Auction -3 opens on May 3rd.

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Editor’s Note: The webinar highlighted the need for accelerating the ASEAN energy transition towards renewables, energy storage, hydrogen, and CCUS. It also provided insights into the potential of various renewable energy sources and storage technologies, as well as the increasing foreign investment interest in the region. The Philippines' upcoming renewable energy auctions demonstrate the government's commitment to the transition, and it will be interesting to see the developments in the ASEAN region in the years to come.