What’s next for renewable energy market in Southeast Asia in 2024?

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Southeast Asia stands at a critical juncture in its energy transition journey. As a region with diverse energy landscapes, it is grappling with the challenge of decarbonizing its power sector amid growing environmental and economic imperatives. This synopsis draws from the annual report to provide an overview of the developments, policies, and market mechanisms affecting the green energy landscape in Indonesia, Malaysia, Thailand, the Philippines, Vietnam, and Singapore.

Indonesia's renewable aspirations and policy paradoxes

Indonesia's participation in the Just Energy Transition Partnership (JETP) has yielded a revised renewable energy target of 44% by 2030. However, the progress has been slower than anticipated, with renewable energy reaching only 15% in 2023, trailing the national goal. Policy support has been in