Similar to many other growing Southeast Asian countries, Thailand is facing an increase in energy demand. According to the ASEAN Centre for Energy (ACE), energy demand in Southeast Asia in 2040 is expected to increase between 110- to 130 percent.
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable sources by 2025 as energy demand in the region is expected to grow by 50 percent.
In the past decade Asia has emerged as a booming market for nuclear energy. According to the World Nuclear Association, over half of the world’s nuclear plants under construction are in Asia.
As Southeast Asia becomes one of the fastest developing regions in the world, concerns over its energy security is fast growing. Southeast Asia has a combined population of over 600 million people and an economy worth nearly US$3 trillion.
An impressive period of sustained economic success has seen energy demand in Southeast Asia increase beyond twofold. These trends emerge against the backdrop of evolving global energy dynamics, in light of rapid urbanisation among ASEAN member states.
According to a World Bank report on Lao in 2017, the country pleasantly surprised many by becoming one of the fastest growing in the region. The World Bank even ranked Lao as the 13th fastest growing economy of 2016.