Southeast Asia has abundant energy resources but is generally slow to diversify its energy mix to include renewable energy (RE) sources, according to the ‘Renewable Energy Market Analysis – Southeast Asia’ report by the International Renewable Energy Ag
Renewable energy is set to change the landscape of Southeast Asia. The goal is to ensure 23 percent of the Association of Southeast Asian Nations’ (ASEAN) primary energy mix is made up of renewable energy by 2025.
The Philippines was recently ranked number one for environmental sustainability by the World Energy Council (WEC), in January 2018.
The oil and gas economy has been very turbulent in the last 10 years or so. The 2008 financial crisis marks the moment when the industry was turned upside-down.
With an economy that’s rapidly growing, Vietnam is facing an increase in energy demand. According to Vietnamese power company, Electricity of Vietnam, energy demand in the country is forecasted to grow 10% annually.
According to a report released by the International Energy Agency (IEA) in October last year, Southeast Asia’s energy demands are forecasted to grow as much as 60% by 2040.
As of 2015, out of the total population of 630 million people living in Association of Southeast Asian Nations (ASEAN) member states, 107 million do not have access to electricity.