00:00In Southeast Asia, estimates indicate that US$200 billion per annum in investments for renewable energy and energy-efficient measures are needed by 2030.
00:11Without urgent policy intervention to drive significant investments, the region is at risk of missing its energy transition goals.
00:19Pana Sheh joins the discussion from Singapore International Energy Week.
00:23I'm reporting from Singapore International Energy Week's EU 2025, where global energy leaders are gathering to shape the future of energy.
00:33At the Singapore Arena High-Level Forum, discussions focused on how to finance the energy transition,
00:39from building investor confidence through stable, transparent policies, to de-risking projects with innovative and blended financing models.
00:47IRENA's Director General, Francesco Lacamera, says strong partnerships between governments, the private sector and international bodies will also be key to driving renewable investments across the region.
01:00The most important thing is to build an environment that is conducive for receiving foreign investment.
01:07And we also need action from the government and the internal intergovernmental entities, also like ARENA, to try to facilitate the matching between projects and funding.
01:23But this is what we have been talking about together.
01:25And we also hope that this initiative for South East Asia will facilitate building plans that are consistent with the reduction of the emission requested.
01:41And plans that also contain elements for building a good pipeline of projects.
01:49And then bringing this pipeline of projects to the bankability.
01:52These are the steps that are needed to make things happen and upflow in the shortest possible time.
02:02Lacamera also highlighted the formula needed to transform ASEAN's energy landscape, from improving grid infrastructure to building human capacity.
02:11One is the infrastructure.
02:14It means that we need the grid that is interconnected, flexible and balanced.
02:19Among countries and domestically, we need a market that is designed for renewables.
02:32What do I mean?
02:34For example, short-term contracts are not the best option for renewables.
02:39We need long-term contracts.
02:42And long-term contracts ensure a very low cost, if you compare with other technologies.
02:48And as I told you today, renewables in more than 90% of the cases, are more convenient than the cheapest coal plant.
03:01The third area is the best option for renewables.
03:02The third area is, we mentioned, the human institutional capacity.
03:12Human, that means reskilling all the workers that will transition from the fossil fuel sector to renewables.
03:24And also for, how to say, build curriculum for professionals that serve the new system that is coming.
03:36With the right policies, investments and collaboration, ASEAN's clean energy shift could not only reduce emissions, but also enhance the region's energy security and economic resilience.
03:47I'm Faina Sheehy reporting from Singapore.
03:50Stay tuned for more only on Awani International.
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