A study by the International Renewable Energy Agency estimated that ASEAN will need around 29.4 trillion USD by 2050 to fully transition to renewables and most of which remains unfunded.

A regional power grid for Southeast Asia has been proposed, with first trials set for 2022, as regional countries are speeding up their renewable energy transmission plans in efforts to meet climate change targets.

Vietnam has shown the world its capability to accelerate clean energy solutions, with the highest installed capacity of solar power in Southeast Asia and the government’s commitment to boosting energy supply and strong public demand for improved air quality, the Malaysia-based Techwire Asia news website said in an article on August 19.

ASEAN countries will step up cooperation and share resources to ensure energy security through expanding power grid connectivity and developing renewable energies.