New research by Zero Carbon Analytics (ZCA) reveals that whilst China remains a dominant force in Southeast Asia’s clean energy transition, Japan, South Korea, and Australia are poised to expand their influence in the region. The study, focusing on Indonesia, Malaysia, the Philippines, Thailand, and Vietnam, highlights these countries’ commitments to renewable energy and green technology.
Japan has taken a leading role in financing frameworks such as the Just Energy Transition Partnership (JETP) and the Energy Transition Mechanism (ETM). It co-leads Indonesia’s $20 billion JETP and supports Vietnam’s JETP. Additionally, Japan has invested $1.3 billion in solar panels and $142 million in geothermal energy across the five countries from 2013 to 2023. It is also the largest supplier of electric buses and vehicles to the Philippines.
South Korea stands out as the largest exporter of battery components to Malaysia and Indonesia, with exports valued at $143.37 million and $52.99 million, respectively. It is also the second-largest exporter of electric vehicle batteries to Indonesia, following China.
Australia’s unique contribution lies in regional transmission projects, notably the Australia-Asia Power Link, which aims to export solar energy to Singapore via Indonesia.
The study’s release comes ahead of the 46th ASEAN Summit in Malaysia, where regional actions to strengthen clean industry resilience are expected to be discussed. This meeting occurs amidst US tariff shocks on clean energy products, underscoring the importance of regional collaboration in the energy transition.
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