ASEAN Energy Storage Photovoltaic Power Generation Company

Where is solar power available in ASEAN?

The current key markets for solar power are Vietnam, Malaysia, Thailand, the Philippines, and Indonesia, which also account for more than 87% of ASEAN’s population. The solar M&A scene is most active in Thailand and Vietnam – the countries with the highest installed capacities in the ASEAN region.

Does ASEAN need energy storage?

The ASEAN energy storage landscape is undergoing a significant transformation driven by the region's ambitious renewable energy goals and growing energy demands. The ASEAN Centre for Energy (ACE) projects the region's total final energy consumption to increase by 146% by 2040, highlighting the urgent need for robust energy storage systems.

How much solar power does the ASEAN region have in 2022?

The ASEAN region has 27 GW of solar and 6.8 GW of wind installed capacity in 2022, representing less than 1% of the approximately 30,523 GW of solar and 1,383 GW of wind theoretical potential estimated by the National Renewable Energy Laboratory (NREL).

Will solar and wind help ASEAN develop a charging infrastructure?

Solar and wind may lead to new opportunities to further equip ASEAN for the development of such charging infrastructure. In addition to being a cleaner option, solar and wind are getting cheaper worldwide.

How is ASEAN transforming its energy landscape?

The ASEAN region is witnessing a significant transformation in its energy landscape, driven by ambitious renewable energy storage targets and the need for grid modernization.

Are solar and wind the future of ASEAN?

Solar and wind are among the most promising technologies capable of creating new markets, fostering job creations, enabling a just energy transition and ensuring a resilient, energy-secure ASEAN. Strong policy support and government commitments are critical to driving robust action and progress in renewable deployment.