Day 5 Wrap-Up: Ending SIEW 2024 on a High

On the final day of SIEW 2024, academics and industry leaders engaged in a series of exciting discussions on Asia’s energy transformation and the ASEAN Power Grid at the third and final SIEW Thinktank Roundtables.

With that, we have come to the end of SIEW 2024! As this year’s edition draws to a close, we would like to thank our partners, sponsors, supporting organisations, and delegates for making this event truly exceptional.

This is not the end! Keep an eye out for more insights and key takeaways from SIEW 2024 in the weeks ahead.

Also, follow us on X (formerly Twitter) and Telegram for the latest updates. We look forward to hosting you once more at SIEW 2025, taking place from 21-25 October!

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Stay connected with live updates throughout the day. Follow @SIEW_sg on Telegram and Twitter for key takeaways from Day 5's discussions!

SIEW Thinktank Roundtables: A Call for Meaningful Collaborations and Partnerships

Contributed by Lim Letasha, National University of Singapore

In their closing remarks, the speakers revisited key outcomes and insights from today’s impactful and substantive roundtable discussions.

Beni Suryadi, Acting Executive Director, ASEAN Centre for Energy (ACE), and Dr Zhong Sheng, Senior Research Fellow,  Energy Studies Institute - National University of Singapore, gave their closing remarks for this year’s SIEW Thinktank Roundtables.

• Driving decarbonisation through cooperation Addressing the challenges of the energy transition necessitates collaboration and cooperation across sectors and borders. This aligns with SIEW 2024’s theme of “A Connected and Sustainable Energy World,” underscoring the critical role of unified efforts in driving decarbonisation.
• Public-private partnerships are vital: Effective collaboration between governmental bodies and the private sector is vital. The speakers highlighted key insights from the SIEW Thinktank Roundtables discussions, emphasising that a successful energy transformation relies on private-sector institutions and investors' active participation, as well as financial backing through public-private partnerships.
• To SIEW 2025 and beyond: There is a strong commitment to ongoing dialogue and progress, focusing on introducing new insights at SIEW 2025. The conclusion of this year’s event marked the beginning of new discussions, reinforcing the importance of sustained collaboration and the sharing of ideas as we move forward.

Stay connected with live updates throughout the day. Follow @SIEW_sg on Telegram and Twitter for key takeaways from Day 5's discussions!

SIEW Thinktank Roundtables: Strategies to Bridge the Financing Gap in Asia’s Energy Transition

Contributed by Lee Mian Rong, EMA

Financing Asia's energy transition and decarbonisation efforts requires strong collaboration between countries and whole-of-economy planning to ensure a just transition to a green economy.

The panellists were Kelvin Wong, Global Head of Energy, Renewables and Infrastructure at DBS Bank’s Institutional Banking Group; Jennifer Tay, Asia Pacific Infrastructure Leader at PwC; Jie Tang, Practice Manager for Energy and Extractive Global Practice at the World Bank Group; and Jacqueline Lam, Regional Director for Asia at SE4ALL.

• Falling short on renewable investments: According to Bloomberg, an annual investment of US$2.4 trillion in clean, renewable energy between now and 2030 was required to meet the global net zero targets. Yet, countries around the world invested just US$840 million in 2023. To bridge this gap, the panel agreed that strong public-private partnerships and significant public-sector financing were required. To start, countries could focus on achieving energy efficiency and scaling up renewable energy deployment.
• Multilateral development banks and public-private partnerships play key roles: Investments in grid transmission and distribution projects are important to mitigate curtailment risks for high-risk renewable energy projects. The panellists underscored the need for adequate regulatory and market structures that support private-sector investment in grid infrastructure. Particularly, beyond national and regional planning, countries should focus on whole-of-economy planning to de-risk private-sector investments in grid-related projects.
• Achieving just transition and economic participation: As we move towards a green economy, the panel emphasised the importance of inclusivity, interconnectivity, and multilateral support to ensure that no one is left behind.

Stay connected with live updates throughout the day. Follow @SIEW_sg on Telegram and Twitter for key takeaways from Day 5's discussions!

SIEW Thinktank Roundtables: New Opportunities and Pathways in Southeast Asia’s Energy Transition

Experts from the ASEAN Centre for Energy (ACE) and the National University of Singapore's Energy Studies Institute presented the latest insights on the region's energy transition pathways.

• Projected economic boom across ASEAN: Beni Suryadi, Acting Executive Director, ASEAN Centre for Energy (ACE), shared that the ASEAN economy was set to grow at a faster rate compared to the world average. Specifically, he predicted that the growth rate would average around 4 percent between now and 2050.
• Job creation as part of the energy transition: Mr Suryadi also revealed that based on current estimates, over 3.2 million jobs in ASEAN could be eliminated as a result of the decommissioning of fossil fuel plants. However, this would be offset by more than 6 million new jobs created in the renewable energy sector from 2040 to 2050. Mr Suryadi added that this could significantly shape the way the ASEAN region would interact and contribute to the global economy.
• Building up energy resilience through cross-border transmissions: In a follow-up presentation, Dr Zhong Sheng, Senior Research Fellow, Energy Studies Institute - National University of Singapore, emphasised the potential of cross-border electricity transmission to fortify the region’s energy resilience.  Based on Dr Zhong’s projections, cross-border electricity transmission imports could account for up to 28 percent of ASEAN’s 2050 energy generation mix.

Stay connected with live updates throughout the day. Follow @SIEW_sg on Telegram and Twitter for key takeaways from Day 5's discussions!

SIEW Thinktank Roundtables: Accelerating Innovations to Unlock ASEAN's Renewable Energy Potential

Contributed by K A Habib Noor, EMA

The panel discussion explored the challenges and opportunities for accelerating energy transitions in ASEAN, with a focus on grid infrastructure, emerging technologies, and the role of regional cooperation.

The first of two panel discussions for Roundtable C was moderated by Nadhilah Shani, Senior Research Analyst, ASEAN Centre for Energy (ACE).

The panellists were: Francisco Gafaro, Team Lead Power Sector Transformation, Innovation and Technology Centre,  International Renewable Energy Agency (IRENA); Matthew Wittenstein, Section Chief, Energy Connectivity, Energy Division, United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP); Dr Zhong Sheng, Senior Research Fellow, National University of Singapore; Jen Tan, Head of Renewables for Singapore and Indonesia, Sembcorp Industries; and Tolga Bayav, Commercial Director for Asia Pacific, Karpowership.

Key takeaways and insights shared during the panel included:

• Collaborative strategies to drive ASEAN’s energy transition: While ASEAN's energy demand is projected to double by 2050, the region is only halfway towards its renewable energy targets. The panel noted that the diversity of ASEAN countries posed unique challenges and highlighted the importance of collaboration and mutual benefits to accelerate the region’s energy transition.
• Emphasising the benefits of renewable energy for greater buy-in: The panel emphasised the importance of communicating the benefits of renewable energy deployment to local communities and investors. Panellists also shared learnings from current efforts to decarbonise the maritime sector, and how these initiatives contribute to decarbonisation.
• ASEAN Power Grid as a keystone to regional energy integration: The panel also highlighted the need for innovative planning approaches, regulatory policies, and grid enhancements to enable the integration of renewable energy and ensure system flexibility. Panellists noted that the ASEAN Power Grid is a potential way to unlock the benefits of energy trading and achieve regional integration within ASEAN.

Stay connected with live updates throughout the day. Follow @SIEW_sg on Telegram and Twitter for key takeaways from Day 5's discussions!

SIEW Thinktank Roundtables: Accelerating the Clean Energy Transition in ASEAN

Energy leaders across ASEAN discussed the urgency in decarbonising economies across Asia:

• The value of collaboration and blended financing models for a decarbonised Asia: Jonathan Goh, Director of External Relations, Energy Market Authority (EMA), Singapore, opened the third SIEW Thinktank Roundtables by underscoring the urgency of decarbonising Asia. Noting that “there is no transition without transmission” - echoing the message highlighted earlier this week by Dr Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, Singapore – Mr Goh emphasised the value of collaboration and blended financing models in driving the region’s decarbonisation efforts.
• Striking a balance between economic growth and sustainable energy use: Beni Suryadi, Acting Executive Director , ASEAN Centre for Energy (ACE), acknowledged the unique economic needs of each nation. He then referenced the Carbon Neutrality Scenario, a scenario modelled by ACE that balances economic growth with sustainable energy use while adhering to international climate commitments, including the Paris Agreement.
• Southeast Asia as the centre of the world’s climate challenges: Professor Poh Seng Lee, Executive Director, Energy Studies Institute - National University of Singapore, explained that Southeast Asia accounted for approximately half of the world’s global carbon emissions. This fact placed the region squarely at the heart of the world’s climate challenges.
• Benefits that go beyond climate change: In further elaboration, Prof Poh said that, more than just addressing climate change, decarbonising Asia would also ensure economic security and improve public health for citizens. As a whole, energy transformation had the potential to reshape the socio-economic livelihoods of entire regions.

Stay connected with live updates throughout the day. Follow @SIEW_sg on Telegram and Twitter for key takeaways from Day 5's discussions!

SIEW 2024 Day 5: A Sustainable Energy Future

On the final day of the Singapore International Energy Week (SIEW) 2024, attention turns to decarbonising Asia.

At Roundtable C happening at 9am, energy leaders will gather to discuss energy pathways for the region's sustainable future. These include exploring scenarios for energy transformations in Southeast Asia and the ASEAN Power Grid.

As SIEW 2024 draws to a close, stay engaged with live updates throughout the day. Follow @SIEW_sg on Telegram and Twitter as we wrap up a week of impactful conversations and insights!