"The ASEAN nations enjoy vast but as yet largely untapped potential for renewable energy, especially PV solar, and onshore and offshore wind. The IEA puts potential supply at 20 terawatts, roughly 55 times the region's present generation capacity. And this energy would be cheap. But the increase in overall demand is for now far outpacing new supply from renewables. Until that changes, ASEAN nations remain dependent on rising fossil fuel imports that expose them to price risk, potential supply disruptions, and increasing greenhouse gas emissions."
"Asian corporate executives have focused recently on coping with tariffs and trade restrictions, potential supply chain disruptions and geopolitical insecurity-rather than energy and power. In the latest EY-Parthenon Global CEO Outlook survey, Asia-Pacific CEOs expressed greater unease than their peers in Europe and the Americas about geopolitics, macroeconomics and trade. They must not lose sight of how investment in modernizing energy supply and transmission today will provide considerable benefits including, but not limited to, low-cost power."
Energy demand across Southeast Asia surged faster than the global average in 2024 and is projected to double by 2050 as economies shift into higher-value, energy-intensive industries such as data centres. The region holds roughly 20 terawatts of renewable potential—about 55 times current generation capacity—particularly in PV solar and onshore/offshore wind, and that energy would be low-cost. Current renewable additions lag growing demand, forcing reliance on fossil fuel imports and creating price, supply and emissions risks. Public and private finance mobilization and regional grid modernization are necessary to secure low-cost, reliable power.
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