Singapore-IRENA High-Level Forum: Building Energy Resilience in Developing Nations' Renewable Energy Ecosystems

The Singapore-International Renewable Energy Agency (IRENA) High-Level Forum offered a platform for key stakeholders from Southeast Asia and beyond to address the region's pressing energy challenges.

The session began with a Keynote Address by Hon. Dr Doto Mashaka Biteko (MP), Deputy Prime Minister and Minister for Energy, United Republic of Tanzania. This was followed by an expert panel discussion, where participants explored how nations can strengthen renewable energy resilience.

Key discussions focused on overcoming natural barriers, addressing infrastructure requirements, and the importance of collaboration in advancing sustainable energy development for emerging economies. The panel was moderated by Paula Conboy, Senior Counsel, Sussex Strategy Group.

Addressing natural obstacles to energy resilience

Hon. Dr Biteko emphasised the importance of energy resilience in mitigating the effects of natural disasters, which can cause severe disruptions.

The panel echoed his sentiment, with Som Shantanu, President – Engineering, Asia, Gas Power, GE Verona, noting that renewable energy storage alone is insufficient. He advocated for gas as a reliable standby option, highlighting its ability to ramp up to 88 megawatts (MW) per minute, providing stable energy supply when renewable energy sources are not operational.

Ms Conboy shared her experience with a South Australian energy retailer that operated entirely on renewables. During a wind drought, the retailer experienced a 90 percent drop in energy production, highlighting the challenges of relying solely on renewable energy.

Diversifying Southeast Asia's renewable energy portfolio

Datuk Sharbini Suhaili, Group Chief Executive Office, Sarawak Energy, emphasised the region's rich renewable energy resources, including hydro, wind, and biomass. These offer "many opportunities for clean energy development. On the demand side, there’s growing appetite for renewable energy", he said.

Sharad Somani, Partner, Head of Infrastructure Advisory, Head of Infrastructure, Asia Pacific and Head of KPMG ESG, KPMG in Singapore, highlighted that Southeast Asia has the potential to become a global manufacturing hub powered by renewable energy. He noted that the region has the capacity to scale up to 40 times its current installed renewable energy capacity. However, navigating the region's diverse perspectives and stages of development presents challenges.

Navigating the complex puzzle of energy transition

Roberto Lorato, Director and Chief Executive Officer, MedcoEnergi, described the energy transition as a complex and big puzzle. "It all sounds very complex because it is very complex. It is like a big puzzle and we’re trying to move different pieces around. In a conventional puzzle, one eventually knows there's a solution. Here in the context of energy, we have different potential solutions. We will only know many years from now," he said.

Ganesh Padmanabhan, Managing Director, Head of Project Finance, Institutional Banking Group, DBS Bank, pointed out that financing for the power sector in Asia has traditionally been localised. For regional energy grids to succeed, infrastructure must be shared across borders. This makes collaboration and trust building between nations critical.

Overall, the session underscored that building a resilient renewable energy ecosystem is an ongoing challenge. A balance between ambitious goals and practical implementation is needed. As MedcoEnergi's Mr Lorato aptly described, solving this "puzzle" will require continued innovation and collaboration in the years to come.

Stay tuned for live updates! Follow @SIEW_sg on Telegram and Twitter for the latest as we dive into the conversations shaping Day 2.