USAID Clean Power Asia
Harnessing the power of renewable energy for a sustainable ASEAN
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The coming years could be a watershed moment for renewable energy in the Asean region. Although South-East Asia is considered a laggard in terms of RE deployment, the region is, arguably, where the most significant potential for sustainably-sourced energy lie. The conditions for the development of RE here, particularly solar energy, could not be better.
India currently has renewable energy projects of 46,500 MW capacity in the pipeline for capacity addition. This includes projects which are currently under construction and those likely to be offered for bidding soon. India has made a commitment to the world that by 2030, 40 per cent of its electric power generation capacity would come from non-fossil fuels.
According to the Ministry of Industry and Trade in Vietnam, as of August this year, 121 solar power projects with a combined designed capacity of 6,100 MW had been added to the national and provincial power development plans. Of these, EVN agreed to purchase the output from 25 projects.
The Asian Development Bank will invest THB5 billion (US$155 million) in Thai firm B.Grimm Power's maiden 5-year and 7-year green bonds – the first certified climate bonds to be issued in Thailand – in order to finance renewable energy projects in the Southeast Asian country.