ASEAN solar, wind capacity up 20% in 2023 | Asian Business Review
, Southeast Asia
Photo by Amol Mande: https://www.pexels.com/photo/wind-turbines-during-golden-hour-2673471/

ASEAN solar, wind capacity up 20% in 2023

Around 23 GW of renewable energy projects are expected to come online by 2025.

The operating utility-scale solar and wind capacity of countries part of the Association of Southeast Asian Nations (ASEAN) rose by 20% year-on-year (YoY) in 2023 to reach over 28 gigawatts (GW), led by Vietnam.

In a statement, Global Energy Monitor (GEM) said has the largest operating utility-scale solar and wind capacity with 19 GW, followed by the Philippines and Thailand, with 3 GW each.

With the addition, GEM said the country is on track to meet its 35% installed renewable energy capacity goals by 2025 in advance, as it only needs 10.7 GW of utility-scale projects to reach the target.

The region is expected to exceed the goal as 23 GW will be operational by 2025, it said.

 However, GEM noted that it would still be an “uphill path” due to the lack of progress breaking ground on new projects, challenging regulatory environment, and reliance on fossil fuels.

“The growth of renewables across the region is impressive, but so much more can be achieved. With the world now aiming to triple renewables capacity by 2030, governments need to make it easier to bring wind and solar power online,” said Janna Smith, researcher at GEM and report lead author.

“Switching to renewables now from coal and gas will save countries time and money on the path to a clean energy future,” she added.

GEM said the region has almost five times more prospective offshore wind power than onshore at 124 GW, but only 6 GW are currently under construction.

Follow the link for more news on

Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Alfamart’s rapid expansion never overtakes quality service
With 19,087 across Indonesia and 1,680 more in the Philippines, the minimarket operator marks 25 years as a top choice for shopping.
Budget 2024: 3 tax strategies to offset BEPS 2.0 effects
Should the directive be implemented, selected MNEs will be subject to a global minimum tax of 15%.
HK scraps MPF Offsetting Scheme to enhance employee protection
Starting 2025, employers are no longer allowed to offset long service and severance payments from its Mandatory Provident Fund contributions.
HR & Education
Singapore’s health data bill mandates regulated information sharing
To ensure data disclosure and sharing, the Ministry of Health can impose up to $1m in fines for non-compliance.