The Clean Energy Transition is Unstoppable
Did you know that Southeast Asia’s solar capacity has grown significantly in just over a decade? In 2024, Indonesia had an operational solar capacity of 566 MW, Malaysia of 2,079 MW, Philippines 3,188 MW, Thailand 3,133 MW, and Vietnam of 12,902 MW. These figures, tracked through SIPET’s partnership with the Global Energy Monitor (GEM) paint a remarkable picture of the region’s clean energy transformation. Back in 2007, most of these countries had virtually no solar capacity!
But why do these numbers matter?
At a time when US leadership and foreign assistance on climate and clean energy appears uncertain, Southeast Asia can take pride in the strong renewable energy foundation it has built—proof that the region is shaping its own path toward sustainable development and energy security.
In keeping with our commitment to document the region’s clean energy transition, this issue of SIPET Connect continues our Transition Finance series. This month, Sarinee Achavanuntakul, Managing Director of Climate Finance Network Thailand (CFNT), shares how financial institutions can unlock capital flows from fossil fuel investments and redirect them toward clean energy, and reveals the critical role that banks play in leading this transition.
Also in this issue:
🔹 Trends in industrial decarbonization in Indonesia
🔹 Lastest research on Malaysia’s Renewable Energy Certificates (REC) market
🔹 A view from the Philippines as it positions itself as Asia’s next RE hotspot
🔹 Plus, job postings and upcoming events in the energy transition space
Stay informed, stay inspired, and let’s keep driving the clean energy transition forward!
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