Southeast Asia emerges as key clean energy investment hub, report finds

Hydropower is a key clean energy source attracting foreign investment in ASEAN. (Photo: iStock)

Southeast Asian countries are increasingly seen as promising markets for clean energy, attracting substantial public investments from China, Japan, South Korea, and Australia.

According to a new report released on May 20 by international research organization Zero Carbon Analytics, the number of cross-border renewable energy projects in five ASEAN nations is growing at a rate of 15% annually. However, the report notes that investments in solar power and grid infrastructure remain relatively limited.

Indonesia received the most cross-border investment

The report analyzes clean energy collaborations from 2013 to 2023 between foreign investors and five major ASEAN countries: Indonesia, the Philippines, Thailand, Malaysia, and Vietnam. Among them, Indonesia received the highest investment, totaling USD 3.536 billion, followed by Thailand with USD 1.3 billion and Vietnam with USD 694 million.