The International Renewable Energy Agency has signed an agreement this week with the Association of Southeast Asian Nations to build a partnership intended to help the region scale up its renewable energy deployment and advance its transition to a sustainable energy future.
The International Renewable Energy Agency (IRENA) signed a Memorandum of Understanding with the Association of Southeast Asian Nations (ASEAN) on the sidelines of the 36th ASEAN Ministers on Energy (AMEM) and the Singapore International Energy Week (SIEW) by IRENA’s Director-General Adnan Z. Amin and the Secretary-General of ASEAN, Dato Lim Jock Hoi.
The agreement will see IRENA and ASEAN working closely together in an effort to build and strengthen an environment for renewable energy investment and deployment as the ASEAN region seeks an aspirational target of securing 23% of its primary energy from renewable energy sources by 2025 — a target which IRENA analysis predicts will require an estimated annual investment of $27 billion over the next eight years, equivalent to 1% of regional GDP.
“Southeast Asia is a dynamic and rapidly evolving region with strong economic growth, rising incomes and growing populations, factors that will increase regional demand for power,” said Adnan Z. Amin, Director-General of IRENA. “Renewables will be the key to addressing this growing demand and ensuring energy security, while powering the inclusive and sustainable economic development of the region.
“This partnership brings political will and technical knowledge together to unlock the vast potential that exists in Southeast Asia to harness renewable energy and deliver widespread benefits to communities in all ten member states,” continued Mr. Amin. “IRENA will work closely with ASEAN to implement a joint action plan that ensures Southeast Asia continues its remarkable economic story in a new age of energy.”
The partnership will see IRENA and ASEAN Energy Ministers work closely across a number of key implementation focus areas, including:
- Energy planning in the context of integration of high-shares of renewables to the ASEAN energy mix.
- Assessments and roadmaps for accelerated renewable energy deployment, including updates to the ASEAN Renewable Energy Outlook.
- Promote knowledge sharing among regional policymakers to implement enabling renewable energy policy and regulatory frameworks to capitalise on the social and economic benefits of scaled up RE deployment.
- Support the advancement of various renewable energy resources across ASEAN member states through detailed technology and innovation assessments and cost reduction potential analysis.
- Enable the development of bankable RE projects and support for project facilitation through IRENA’s various project facilitation platforms.
- Build capacity of policymakers, regulators, utilities and other key stakeholders in the region on various renewable energy topics through training and workshops.
“Transitioning our energy systems to renewable energy and supporting sustainable development are top priorities for ASEAN member states and for the people of our nations,” said the Secretary-General of ASEAN, Dato Lim Jock Hoi. “The world is evolving. New technologies and innovative approaches present important social and economic opportunities.
“This agreement represents an extension of the close relationship between ASEAN and IRENA, allowing our member states to not only learn from one another, but benefit from global best practice in the implementation of sound and successful renewable energy policies,” continued Dato Lim Jock Hoi. “This will help ASEAN Member States transition to low carbon growth and contribute to the attainment of sustainable development.”