BANGKOK – Energy Ministers of ASEAN are in Bangkok for discussion on how to better utilize the region’s energy. As well as make ways to greater promote renewable and clean energy production.
Thai Prime Minister Gen. Prayut Chan-o-cha this morning presided over the opening ceremony of the 37th ASEAN Ministers on Energy Meeting. He stressed the need for all countries in the region to greater investment in clean and renewable energy.
As energy demand have been sky rocketing in parallel with the economic development of the region.
Thailand’s premier reiterated that all ASEAN countries must work to increase the utilization of clean and renewable energy.
The agenda of the meetings include topics in regard to enhancing electricity networks connectivity; infrastructural development for natural gas transport; the promotion of clean coal technology; nuclear power; and alternative energy.
Prior to the meeting, ASEAN countries have expressed their ambition to increase the region’s clean and renewable energy production from 17% to least 23% by 2025.
Fossil fuels, led by oil and natural gas, currently account for more than half of the region’s energy supply.
Technological innovations and favorable government policies are among the four trends expected to drive ASEAN’s transition to renewable energy.
While there are still 70 million ASEAN citizens without access to reliable electricity. The potential for renewable energy is huge in those markets.
ASEAN governments are increasingly turning to solar and wind energy to address the issue.
Each of ASEAN’s 10 members have set targets for renewable energy, and technological innovations. Such as better solar power efficiency and floating solar panels means that renewable energy is now more accessible.
ASEAN Energy Demand to Surge
With ASEAN’s strong economic growth exceeding four percent annually, the region’s energy consumption has doubled since 1995. Demand is expected to continue growing at 4.7 percent per year through 2034.
According to the a ‘Renewable Energy Market Analysis: Southeast Asia’ report published last year.
With that in mind, ASEAN has set a target of 23 percent renewables in the region’s energy mix by 2025 – a 250% increase from 2014.
To do that, though, Southeast Asian countries will have to substantially scale-up their deployment of renewables in the power sector, as well as in heating, cooling and transport.