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AEBF25 | Day 1 - Energy Foresight for ASEAN – From Shared Vision to Regional Action | ASEAN Centre for Energy | YouTubeToText
YouTube Transcript: AEBF25 | Day 1 - Energy Foresight for ASEAN – From Shared Vision to Regional Action
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The ASEAN region faces a significant surge in energy demand driven by economic growth, necessitating a collective, coordinated effort towards a secure, affordable, and sustainable energy future through regional cooperation and strategic foresight.
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Announcing the arrival of young Amar
Burhad, D Amar Fadilabin Yusu,
Deputy Prime Minister and Young Burhamad
Dr. Madib Muhammad Khali, Secretary
General of Petra as well as other
Ladies and gentlemen, we now commence
with plenary session seven entitled
energy foresight for ASEAN from shared
vision to regional action. It is my
honor to invite Yamburat
Amar bin Yusf Deputy Prime
Minister and Minister of Energy
Transition and Water Transformation of
Malaysia to the stage to deliver his remarks.
is prophet Jeffy sex will be online
So president of UN sustainable
development network
engineer Jaludin Bugat Hassan CEO of
Taga National Bad
Dr. Lee Changu associate research fellow
center for international knowledge development
development
Mr. Aaman Fis
uh CEO of M Le Traad. Distinguished
delegates, ladies and gentlemen,
it is an honor to address you today on
the topic that is central to our shared
future in Assan. The aid ascent energy
outlook or a AEO8 aid developed by the
ASEAN center for energy and endorsed by
the 42nd ARM last year has shown the
rising demand of energy in ASEAN to
support our shared economic growth.
Indeed, it is an opportunity for ASEAN
to keep growing our our economy for a
common prosperity that provide us with a
challenge to ensure a sustainable energy
transition in the region. The outlook is
a call to action for all of us to work
together toward a secure, affordable,
and sustainable energy future.
AEN is one of the fastest growing
regions in the world. Our population is
expanding. Our economies are thriving.
And with that comes a surge in energy
demand. By 2050,
energy demand is projected to grow 2.6
times compared to 2022 levels. If we
continue on our current path, fossil
fuel will still dominate our energy mix
and emission will rise significantly.
But the AEO8 shows us that alternative
power phase are possible by supporting
the adoption of renewable energy and
energy efficiency through regional cooperation.
cooperation.
The carbon neutrality scenario of the AEO8
AEO8
has shown that reducing the emission in
our energy sector is possible. Malaysia
is committed to achieve net zero by 2050
and other other ASEAN members
have adopted their own pathways but with
a similar vision in mind. It is
projected that
with all national policies implemented
fossil fuel supply requirements are
projected to be reduced by 14% by in
1950 relative to the baseline scenario.
So this is encouraging finding that show
ASEAN is moving towards the direction of sustainable
sustainable
low emission growth. We need to work
more together to strive for more
ambitious ambitious achievements. Solar,
wind, hydro, biomass, and emerging
technologies like green hydrogen must be
scaled up. We must go further. We must
invest and integrate renewables into our
grids and industries.
Not just not just new and renewable
energy. We must also embrace the
opportunity coming from increasing our
energy efficiency with appropriate
policy and coordinated actions.
Increasing our energy efficiency can
reduce pressure to the generation's
demand whilst keeping the economic
growth intact for our prosperity.
This means upgrading buildings,
modernizing transport and improve
industrial processes. It also means
empowering consumers with smart
technologies and incentives that can
benefit their users and market. So
ladies and gentlemen,
no country can do this alone. ASEAN must
double down on our regional energy
cooperation to move forward as a region.
Initiatives such as the Assean power
grid and the Trans Assan gas pipeline
will be the critical enablers of
regional energy security and
sustainability. By connecting our energy
systems, we can share resources and
accelerate the transition.
Multilateral trade and crossborders infrastructure
infrastructure
will be essential in realizing our
dreams. This is why ASEAN is renewing
our commitment for the APG through the
enhanced APG MOU. This new MOU will
allow ASEAN to work closer to strengthen
regulatory frameworks, harmonize
standards and build trust among the
member states. I believe you will hear
more details about the MOU after the
completion of the document facilitated
by the ASEAN center for energy as the
upcoming APG secretary under the
enhanced APG MOU. The ministers
uh the ministers are eager to deliver
more progress and work closer together
to realize the common dream of ASEAN.
Nonetheless, we are also aware that none
of these initiatives will grow through
without a good mechanism to finance it.
The energy transition requires billion
of dollars in investment in generation,
transmission, innovation and human
capital. So, we must unlock public
private partnerships, green financing
and climate funds. ASEAN must become a
destination for clean energy investment.
This means creating stable policies,
reducing risks and showcasing success
stories. Financing this transition will
be about the confidence in our
collective direction.
We also aware that the strong governance
is a backbone of energy transition.
Consistent and coordinated policies
between the member states will bring
more collective actions for the region.
So we need long-term planning,
transparent targets and inclusive
decision making. Hence the role of ASEAN
energy outlook is clear to support the
ASEAN energy ministers in taking
regional cooperation as a part of our
national agenda. It will provide
insights to the ministers informing us
on the potential opportunities arising
from regional cooperation. The ASEAN industry
outlook next year as part of our custom
to update the outlook every other year.
So I call partners attending today to
>> Thank you so much. Deputy Prime
Minister, kindly remain on stage as we
will now proceed with one more group
photo op. And I'd like to invite all our
distinguished VIPs seated in front to
join Yang Amab Bahama, the deputy prime
minister and minister of Petra on stage
as well as all our panelists and
moderator for plenary session 7 energy
foresight for ASEAN from shared vision
to regional action to also join our
distinguished VIPs on stage for one
group photo op before we commence with
our online presentation as well as the panel.
panel.
session that will conclude day one of
Thank you so much young Amma Burma,
Deputy Prime Minister and Minister of
Petraj Makasi. to each and every one of
Ladies and gentlemen, before we begin
with our panel discussion, let's hear
from someone who will be joining us
online to set the context for today's
final panel discussion today.
Please welcome Professor Jeffrey Saxs,
president from UN Sustainable
Development Solutions Network.
Professor, are you can you hear me loud
and clear?
>> I I hear you. Can you hear me?
>> Yes, we can. All right, Prof. over to you.
you.
>> Wonderful. Assalamu aalaykum. Greetings
to everybody. uh very distinguished uh
uh participants and especially the
deputy prime minister and
congratulations deputy prime minister
not only on your outstanding remarks but
of course on your government's
leadership which is exemplary and uh
Malaysia has held the presidency of
ACSEAN in this very very important year
the leadership is spectacular
And I'm sure that the upcoming ASEAN
summit will be a tremendous success for
ASEAN and ASEAN success is a success for
the world. I want to emphasize the basic
point that the energy transition to
zerocarbon energy is proceeding at an
accelerating rate worldwide
and that those countries and regions
that are in the forefront are taking and
gaining special benefit by being frontr
runners. They are developing new
industries. They are attracting new
foreign investment. They are pioneering
in innovation
and they will become the leading
exporting regions of the world. I want
ASEAN to be in the forefront of this
transformation and I believe that that's
the path that ASEAN is choosing now
because ASEAN in this year with this
presidency is indeed saying that there
will be a clean green integrated ASEAN
wide energy system that is put in place rapidly.
rapidly.
with foresight and to produce a
net zero system by midentury that will
be a world leader in this area.
I want to emphasize that this is not
only the right goal because it will put
ASEAN just where it wants to be as the
center of dynamism of the world economy
on the direction that the whole world is
translating but that this is within very
practical reach. Uh ASEAN is already of
course a very dynamic region but with
the proper integrated strategy it will
achieve this very very bold goal. As the
deputy prime minister said,
energy demand, energy consumption, if I
could put it that way, will grow
tremendously in ASEAN by midentury and
especially power demand. Electricity,
energy in the form of electricity will
grow tremendously.
And this is the opportunity to build a
green system, a system based on
zerocarbon energy that is robust,
lowcost, resilient, and globally competitive.
competitive.
In order to do that, of course, market
forces and the businesses at the AEBF
uh will be extremely important, but the
role of government is indispensable.
Government has to have the lead in
formulating the framework and the
pathway. When that's not the case, by
the way, what happens is that a lot of
investment gets made, but it doesn't
lead to a grid. There is a lot of
stranded investment in Europe right now
of renewable energy that has been
invested, but is not connected because
there's no grid. The same is happening
in the United States right now. That is
a failure of planning
and a failure of implementation.
Without the planning and the government leadership,
leadership,
the independent power producers
will not be able to achieve what they
want to achieve, which is a a profitable
forwardlooking investment in green
energy upstream and downstream. So for
foresight my main recommendation is
planning and I want to thank the ASEAN
center for energy for being at the
center of this foresight and this
planning. We need in the upcoming energy
outlook a bold scenario that shows how
ASEAN together all of the countries as
the deputy prime minister emphasized
will together benefit from this uh
unified and integrated vision.
China is probably the most successful
country in the world right now in making
the energy transformation because not
only is it investing at astounding scale
in clean energy but it is also at the
forefront of the cutting edge
technologies and I just want to
emphasize that China describes its own
foresight model as the 1 +N model. The 1
plus n model signifies that there is one
overarching framework and then n a
number of individual initiatives but
under that one overarching framework.
And that is my strong recommendation for
ASEAN. have a clear vision of how to
reach 2050 with a net zero
bold resilient lowcost energy system and
then plan for the different components
the end components to bring that into
fruition. Now an energy system is really
a system. Of course it has many
different components but at the core of
the energy system will be the power
system the electricity because at the
core of moving to a zerocarbon system is electrification.
electrification.
It is not only to produce the electricity
electricity
with wind, solar, hydro, ocean, nuclear,
geothermal and all the other vast
resources that ASEAN possesses of
zerocarbon primary energy. But it is a
system that includes the downstream uses
of that electricity including to produce
hydrogen for parts of the energy system
that cannot easily be electrified.
We are moving to a world in which almost
all transport is either electric in the
form of electric vehicles or
hydrogen-based in the form of large
ocean tankers and other ocean shipping
for example for uh long distance uh long
distance shipping. So when we think of
an energy system, we need a power system
and we need of course the downstream
system of using that power through the
electrification of buildings of cooking,
heating and cooling, of course of the
electrification of transport of the
electrification of a lot of industry for
instance metallurgy which will be
substantially electrified and for the
parts of industry and transport that
cannot be electrified of a
hydrogen-based economy where the
hydrogen itself is green hydrogen
produced by clean electricity. We know
that the ASEAN power grid stands at the
very center of this vision. The idea of
the ASEAN power grid has been with us
for more than 20 years. It's time for a
thorough implementation.
I want to emphasize that uh while it was
said in the previous session in closing
that ASEAN should produce should proceed
step by step. I don't quite agree with
that. ASEAN should proceed with a bold
integrated vision. Of course, within
that bold integrated vision, there will
be steps. But this is no longer the age
of mere experimentation or trying out
things. This is the age of bold implementation
implementation
and scale. And that means a massive
transformation in the next 25 years. And
that means knowing what are the
components, where will the power grid
go, which connections to have the high
voltage, direct current, long-d
distanceance transmission to bring Lao
uh hydro power to Singapore, of course,
and with all of the countries in
between. And that means planning and it
means all of the other N components of
that planning. Now what are the other N
components that are crucial? First I've
just mentioned is grid interconnection
that's no longer at the scale of a
couple of countries trying an
interconnection. This needs to be an
ASEAN integrated system and quite
possibly an ARP integrated system
meaning not only the 10 ASEAN countries
but also bringing in Australia with
submarine cable long discussed not
implemented connecting to Indonesia and
then from Indonesia throughout ASEAN and
I believe connecting on to China which
already has interconnections but should
be a bold interconnection and from China
to Korea and Japan, the 15 ARP countries
I believe would have a huge mutual
advantage and benefit by being on an integrated
integrated
system. Second of course is tech is uh
financing. Uh this all needs a financing
strategy with a clear roadmap. the
financing will be easier, but we know
that this will be blended finance, both
public and private financing. Both
equity financing of independent power
producers, public financing of the uh of
the uh transmission grid uh and official
financing coming from the development
banks. and ASEAN uh may well consider
developing additional ACSEANwide
development banking but also the Asian
Development Bank, the Asian
Infrastructure Investment Bank, the New
Development Bank of the BRICS, uh the
new SEO, the Shanghai Cooperation
Organization Bank, they can all play a
role in the financing. And of course the
planning includes as another component
the market structure for trade in power
and in hydrogen because as uh all of the
shipping uh that takes place in ASEAN a
great deal of this will be
hydrogen-based. The shorter shipping
inter island shipping for example uh in
Indonesia will be uh electricity or
battery based but the longdistance
shipping will be hydrogen and therefore
ACSEAN or ARP more generally needs a hydrogen
hydrogen
infrastructure along with this but the
other point that I want to emphasize is
that it's not only uh the energy system
investments ments that should be
considered in a comprehensive plan. But
the very industrialization of ASEAN
itself that should be considered.
Malaysia, for example, is a major
internationally competitive automobile
producer, but it needs to be a major
competitive electric vehicle producer in
the coming years. This is no doubt
feasible. My
uh best uh judgment is that a lot of the
Chinese uh worldleading
uh competitors in electric vehicles
right now would like very much to
partner in joint ventures with the
Malaysian companies and that this is an
area that would be again a huge winwin.
Malaysia is a leading producer of photovoltaics
photovoltaics
and this is an area that will be
the single most important
green uh electricity
generator in the years ahead according
to every global scenario. So Malaysia
should be exporting photovoltaics.
Again, joint ventures with leading
Chinese companies would make a great
deal of sense. Uh, ASEAN is a very
important mining economy. Of course,
that mining has to be done sustainably,
but ASEAN is a crucial source of many of
the minerals that are core to the green
economy of the future. Malaysia is a
producer of important rare earth
minerals. Uh Indonesia is a world leader
in nickel production and the list is
indeed long. And so planning the mining
sector in a sustainable manner and in a
profitable manner alongside the uh
energy system transformation is crucial
and ASEAN also is becoming a world
center for data. Malaysia is considered
the Asia-Pacific's fastest growing
center for new data centers. Those are
voraciously hungry in power. They are
voraciously demanding green energy and
so they are both part of the planning
process and part of the benefit of this
major transformation.
Let me make one final geopolitical
point. Little bit sensitive but
absolutely true.
Sad to say the United States uh while
proceeding with its own internal
energy transformation
at the government level has absented
itself from this great transformation
for the coming years. Uh the current uh
administration of the United States
sadly, mistakenly is not interested in
the green transformation.
President Trump called it a hoax when he
spoke at the UN a couple of weeks ago.
This really isn't about the science.
This is about the lobbying. Uh this is
about the politics uh inside the United
States. It's sad. It's a mistake. It
means that the United States will fall
further and further behind this transformation.
transformation.
Today is reported in the newspaper the
CEO of Ford Motor Company saying that
they are scaling back their production
of electric vehicles. uh that they
expect that the electrical the EV market
in the United States will drop from its
current 10% of new automobile sales to
just 5% in the coming years.
I regret all of this. Of course, I'll
spend much of my career trying to urge
the United States to do it differently.
On the other hand, China, as I said, is
the world leader and the United States
is handing over much of that leadership
to China. From ASEAN's point of view,
this is uh a little complicated. But
from the point of view of industrial
development, energy sector development,
building the actual clean grid and
making a booming industrial economy,
China will be a major partner uh and a
very uh dynamic one and one that will
bring in my
considered view great prosperity to
ASEAN as well.
The nice thing about economics is that
it's not a zero- sum game despite the
fact that some people think so. It is a
win-win proposition. And so I'm hoping
that ACSEAN will not only interconnect
among itself in a very bold and dynamic
and thoughtful way guided by uh the the
wonderful scenario building of ACE, but
will also view the larger region
especially ARP uh the 15 countries of uh
the regional comprehensive economic
partnership as the real partners in this
venture bringing in Australia, bringing
in Japan and Korea, bringing in China
and the Belt and Road Initiative as a
very broad partnership because the truth
is that the ARP region is the world's
leader in this transformation. It is the
most dynamic region of the world. It is
a great benefit for all of the countries
of ARS to be part of it. I do have a
hope that ARS becomes 16 not 15. It's
time for India to join ARS which was on
the table a few years ago and I think
should be on the table again. Boy, that
would really make uh the ARP region the
REP 16 uh as absolutely uh the center of
global transformation in the years
ahead. Something that would benefit the
entire world. So, thank you very much
for the chance to be with you again,
Deputy Prime Minister. All my admiration
for your government and its leadership
and what I know will be an enormously
successful ASEAN summit in just a few
days. Thank you so much for letting me
share these thoughts with you. Thank you
so much, Professor Jeffrey, who's always
been very vocal in ASEAN energy
dialogues and he boldly reminds us ASEAN
countries to choose between major
powers. Thank you once again, professor,
ladies and gentlemen. And now we will
continue with our final session today,
energy foresight for ASEAN from shared
vision to regional action. And with
that, I would like to call upon our
moderator for our final session, Dr.
Zulfikar Yunidi, the head of modeling
and policy planning department for ASEAN
center for energy to moderate our final
Uh good evening uh ladies and gentlemen.
So this is the last session and please
allow me to call directly to the stage
our panelists. First we have uh Dat
Insor Meat Taludin the CEO of TNB. We
have uh Suantan the head of IA regional
cooperation center. Dr. Lee Changu the
associate research fellow uh CID
and last but not we have Dr. Tarin
Subasa head of SR department Asan center
for energy and Harmon Fishab Muhammad
the CEO of M Lera Bhad. Please have a seat.
Okay. Uh thank you. Thank you very much.
And of course this is the last uh panel
of uh today's discussion. Very long day.
Um and uh I think we also already heard
from the DPM about the intentions of uh
Assean uh as a region to move forward
using uh Asan energy outlook as the
center. So we try to make this datab
based uh policy making uh moving forward
and also from professor Jeffrey we also
heard about what his uh vision about
asen in the future in which we need to
take a bold actions towards our energy
transition. So hopefully we can have a
discussion further to enhance the
discussion and first maybe I would like
to move to my colleague from the ACE uh
Dr. Tarinia. So uh as well we know and
also mentioned by the uh his excellenc
has led various foresight initiative uh
centered in the asen energy outlook but
of course this year we are developing
the re long-term road map and um what do
you see from our interaction with the
asen member states on the challenges in
ensuring that when we have a data based
robust uh modeling uh policy planning
can effectively translate into a action
a concrete
and sustainable implementation across
the member states.
>> Yes. Uh thank you Dr. Sika. I think for
modeling work basically is the
scientific based study right which is
show a very transparency in term of the
methodology and also the data that has
been applied and also the policy that we
test in the outlook itself. However,
outlook it not just about forecasting
right. So it's actually the outlook that
uh in ASEAN we implemented is for
provide the insightful of the strategic
pathway you know on how ASEAN can act as
the you know like how is the strategic
pathway that ASEAN shall consider and
also it's been used for the conceptual
framework for the cooper uh
collaboration in regions and also with
the DPIOS. So I think in Assean
especially we are quite dynamics and in
the crossway of the multi options when
we are speaking about the let's say
energy transition for example in power
system we also consider let's say the um
ramp up for the VR that we discussed
heavily today and also in parallel we we
also consider the option for the CCS
right and also hydrogen and of course
all of these policy which we have on the
table is not equally um you know
implement at the same time it has their
order and priority over time. So I think
the function of the outlook here is kind
of try to test the interactions between
uh different policy on the different
sector and also try to see kind of the
um the most efficient pathway the
cheapest pathway that can be achieved
but also the most e um effective that's
mean if would like to move as a whole
regions to you know progressively
advance the whole economics prog. So how
what is this look like? Because for
example in Asan we are kind of the
bracing region we not only have uh wind
and power but we also have uh a lot of
bio energy. So does mean when we are
consider now uh let's say what should be
the most uh efficient let's say energy
in next five year next 10 year 20 years
I think this kind of the interaction and
also the border um policy that we have
to take into account for which way is
the most uh efficient which way is the
best for our people because we also have
um 700 people that you know we have to
kind of taking into account when we
consider for the pathway and lastly also
when we are talking about let's say
another example for the transport decarbonizations
decarbonizations
when we are now uh consider let's move
ASEAN into the uh economic outlook for
being you know extract more supply chain
of the electric vehicle battery and at
the same time in some country um in
parallel they consider for the mandate
of the bofuel
So which way is the most kind of um
let's say appropriate way in which
timeline. So I think that's the function
of the outlook. But get back to your
question on challenge. Yes, when we are
doing modeling, we just activate, you
know, activate the um 18 line of the APG
in the model, we activate the bio energy
trade. But in reality, that's require a
lot of more process in regulatory rework
um market design and also a long
discussion. But that's bring into you
know the the pathway into the reality.
But at but uh at least I think the
outlook already provide us in term of
the scale of the collaboration that we
should have in ASEAN and also the uh
speed of the collaborations. Thank you.
>> Uh yeah thank you very much uh Dr.
Tarina for bringing us the uh role of uh
modeling and also few insights that you
mentioned on the CCS on the bio energy
on the hydrogen. I think this is also in
line with what was uh mentioned by uh
professor Sak to some extent and I would
like to move to our second panelist uh dataludin.
dataludin.
So yeah um thank you very much for
joining us dat and I think um yeah of
course we we know the importance of the
four sides but the question probably
like from the utility perspective
because you always face by decision of
uh choosing an investment on which
technology on which infrastructure to
invest. So the question would be from
your experience um how can the uh
foresight tools can support the
utilities and investors in uh their risk
the investment decisions. >> Asalamaikum
>> Asalamaikum
a very good uh evening. Uh thank you
very much. First and foremost
uh thank you for giving Tanaga National
the platform to share some of the perspective
perspective
uh for the industry and for the uh Asan
objective. I think uh from Assean
perspective uh we know Assean is the
fourth largest
uh consumer of electricity uh as a region
region
and uh the region is growing at 3 to 4%
uh uh of consumption on yearly basis.
Secondly uh we also understand that
ASEAN as a region has the objective of
uh sustainability.
uh many countries in ASEAN are declaring
uh 2050 as our target for uh net zero uh
ambition. So looking from that
perspective uh definitely uh the element
of uh the utility roles uh in trying to
gain this objective maintaining the
growth that we have in Assean or
spurring the growth in Assean and second
is actually to ensure the objective or
net zero uh is is achieved. So with
these two pron uh strategy uh definitely
utility uh as a business we look into
the value chain of uh generation uh
transmission as well as the retail and
when we look at this uh perspective of
the value chain uh definitely investment
will have to come in uh especially in
the uh generation
sector uh because the objective of uh
growth and sustainability
require new investment uh especially on
finding the new ways of generation
meaning that we have to introduce a low
carbon emission generation maybe in the
form of uh solar or wind and also the
new technology hydrogen battery storage
uh pumps hydro and so forth. So this is
going to be the biggest uh investment
from uh utility for those two adjective
and second is of course trying to
modernize our grid and making our grid
flexible to accept the various form of
generations but at the same time to
ensure that the grid are smart enough to
be um able to be reliable to ensure the
continuity of supply. So looking at the
risk of the investment that utility has
to take. So we can see there are a
number of uh elements that uh we can
look uh with respect to how do we derisk
the investment. Uh first and foremost uh
we look at the uh how best we do
scenario planning with respect to making
sure that uh the investment will not
only deliver a single objective but the
investment with a different scenario
will be able to actually cater for
multiple objective. So this is very very
very important because we know that
technology change the customer
uh effect um customer empowerment may
change the regulation may change. So it
is important to do a senior planning so
that we have a multiple uh objective and
we can always be agile as we go along on
those investment. So that's the key
synoping with multiple objective so that
it will protect our investment.
Second uh we can also use the uh
so-called the planning tools that we
have. For example, we can use the ISB
climate change environment tools uh that
is now very very um getting traction in
the market. uh we can also use the
system of proles for example how do we
get the planning into uh into uh
multiple objective or the plans. So this
will actually protect our investment uh
with respect to uh ensuring that we
don't have uh a stranded asset. So these
are the key. So first is actually on the
strategy of synoping. Second is on the
tools. So how we actually plan uh plan
plan for it. And the third element that
we can actually look is that uh we can
always monitor what we call the weak
signal. Uh for example, we can start monitoring
monitoring
the signal that is currently weak.
Example, how is the adoptions of the U
EV for transportation?
So the signal may be weak at the moment
but by monitoring this signal we can
actually uh be sure that the timing that
we enter the investment will be good. So
this is to protect uh and this can be u
a competitive advantage where utility
can be the first mover with respect to
that. So it is very critical the market
segment with respect to monitoring the
the the weaker signal. So it may not be
the best uh item to look at and many of
utilities uh or many companies may not
be focusing on the we signal but this is
one of the uh uh element that uh will
actually support respect to de-risisking
uh the the investment that uh that we
are getting in. The first one that we
can see from the uh investors and the
shareholders point of view uh it is best
that uh we have a good uh transparent mechanism
mechanism
uh and we share with the shareholders
and investors alike. So this is to
ensure that the investors and the
shareholders uh understand where we are
going so that the transparency of those
investment will actually provide a good
de-risking mechanism as we move forward.
So this is where the feedback from the
investors as well as others by having a
transparent uh mechanics uh and sharing
will be very beneficial for for utility.
So those are three or four items that we
believe that uh a foresight uh can helps
uh uh utilities uh companies derisk the
investment for the future.
>> Thank you. Thank you very much uh DU. I
think it's uh very encouraging uh for us
to learn that uh TNB as uh one of the
largest utility in ASEAN actually
implementing this uh four five points
that you mentioned the transparency the
utilization of the tool the
multi-objection objective on the the
deciding your investment and I think
yeah I think it's very true not only for
utility but also for Asan that when we
have a proper planning and also road map
then it will also helps on our decision
because of course our room for fiscal in
countries level and utility level is
actually uh very limited. So thank you
very much that for the insight. Um next
I would like to call Mr. Harmon Fis and
yeah I think we we know that the UEM uh
Lestra is the green investment arm of
the uh broader UEM uh group and uh your
company is driving a large scale
renewables and the carbonization
projects. So from your experience uh how
you translate the strategic foresight
maybe in the national or regional level
into an actual uh bankable and scalable
projects on the ground.
>> Thank you. Um that's that's a great
question. Um
in terms of uh us just a bit of an
introduction I suppose to be fair uh um
Lestra is a fairly new company about 2
years old. uh we were born out of a
strategic vision from Kazana National
Brahhat of um bringing up and and
accelerating uh the sustainability
business and decarbonization.
So it is always very clear that in in
the way that we do uh our investments
all investments must make returns
and returns require that uh proper risk
assessment is done and of course if you
want to enhance your returns you make
sure that it's bankable so that you can
leverage on on the equity that you have.
So in the in the way that we we select
um our investments, our projects, um
one of the actually the the the most
important thing is a stable and certain
and very predictable framework of
investment that is set by the government
whether it's in Malaysia or in ASEAN.
um the certainty of us investing and for
lenders to give money
and for us to be able to construct and
deliver for the next decades uh is very
important. um the fact that um it is it
is uh I think
um good that in the ASEAN region we can
see a lot of uh renewable projects uh
that are rolled out in a large way uh if
you look at it from Malaysia or Thailand
or Indonesia or Vietnam or the
Philippines it's all on the basis of a
very clear framework for investment and
and to to a lot of extent it is uh datadriven.
datadriven.
Uh we in in the renewable space now we
see a lot of um new technologies coming
in. uh we can see the differences in
terms of how uh lenders uh financiers
look at the risk and with data right uh
we can convince them
um not just in terms of how good the the
technology is but how it would go on to
produce the energy that we need to to uh
that we forecast for our our cash flows
will be there in the next 10 20 years
and and so with um a clear framework
we can set uh basically a certain level
of returns and a certain cash flow can
be expected. Um lenders will then come
in uh together with you know data in
terms of what's going to happen next two
years, five years, 10 years. This all
helps to bring certainty to projects and
and and if you look at how um the
renewable space has grown in the region,
it starts off like in the solar industry
for example in the last I think uh two
decades from a very small projects where
you know people were skeptical of you
know how far can solar go to
the first one being done and it's it it
looks prom promising, it brings returns
and it can pay its debts and then you
can more or less replicate it and it has
grown to what what it is now. So I think
the ASEAN region is is a very good place
to see where you can actually see the
the the scale of uh the scaling up of of
this investments.
>> Thank you. Uh thank you very much. Um I
think we do agree that there are many
new uh emerging technologies or
innovation on the business models in the
region and I think the last point that
you mentioned on the needs of having a
success cases will be very important
that can be scaled up in the Assean
level. Uh it's can be coming from
Malaysia can be coming from Thailand
Philippine and then that's the role of
ASEAN to bring it towards into the
region and I think it also bring a nice
segue to the next questions uh to Dr.
Because um the question is like we want
to see your opinion on how can uh
regional cooperation frameworks can help
mobilize financing and knowledge
sharing. But uh maybe additional
question is how about the role of uh
research institutions to play a role in
aligning the governments on the investor
and also the industries on this uh
shared priorities based on the energy
foresight. Thank you.
>> Okay. Uh thank you for the question. Uh
I think regional uh corporation is
really key to mobilizing both financing
and uh knowledge sharing in ASEAN. Let
me break it down to a few points. Uh
first on financing, regional corporation
frameworks can leverage um MDBs and
international financial institutions to
accelerate low carbon investments. Uh
for example, the uh Asian investment uh
investment uh uh invest infrastructure
investment bank uh AIB uh launched in
June 2024 uh climate focused uh policy
based financing tool or CPBF. Uh that
means uh under this mechanism if member
countries adopt policies that s support
low carbon transition they can receive
loans to accelerate green financing
attract uh p uh private capital and make
infrastructure investment more bankable.
Uh just to give a concrete example uh in
February uh 2025 AIB provided a $400
million uh budget loan to uh so uh
through these mechanisms and at the same
time regional corporation uh can also
leverage the uh private capital uh
through uh equity loans and joint
investments. uh for example in 2023 uh
Abdabis Master partnered with Chinese
companies to develop uh solar projects
in Indonesia uh com combining Middle
Eastern cap capital Chinese technology
and the Indonesian market. Uh as for the
knowledge sharing uh regional
cooperation frameworks serve as an
excellent bridge for exchanging
experiences and best practice. Uh take
Indonesia as an example. Uh both China
and Indonesia are large coal consuming
countries. Local governments can
collaborate uh on green transition
strategies learning from each other's
experiences in facing out coal. For
instance, representative uh coal regions
in Indonesia could be pled with coal
provinces in China such as uh Shangi or
Inner Mongolia to share lessons on coal
reduction, workforce retreating and
introducing uh green industries. Uh
through structured corporation
platforms, officials, experts and
companies can regularly exchange
knowledge uh develop a replicable and
scalable transition pathways uh and
support national level co-face
strategies with stronger local policy capacity.
capacity.
As for the role of research uh
institutions at CKD, we have established
the China ASEN development development
knowledge network and collaborate with
many think tanks and institutions
globally. We organize events, facilitate
dialogue and provide evidence-based
insights to help investors. Uh
governments and industries align around
shared priorities. Research institutions
act as both connectors and translators.
We turn complex data into actionable
recommendations, build trust among
stakeholders and help coordinate
policies uh investments and project
planning. Essentially, we help ensure
that everyone is working toward the same
regional goals in a more strategic and
coherent way. Yeah. Thank you.
>> Thank you. Thank you very much. Um I
think one highlight that I can take is
that on the in the terms of regional
cooperations in terms of cooperations
for energy transition it's not only
within ASEAN but also between ASEN and
also partner countries uh like with with
China but also with other colleagues
plus three yes countries and also I
noted the importance of having the uh uh
think tanks and reg uh research
institutions in uh advancing all this
moving forward and um the Last uh
panelist we have uh Surin Tan. Um yeah I
think we we had a lot of discussions
from the financing from the cooperations
and from the outlook itself. So maybe
the question to you is um what type of
institutional framework that you think
would be needed at the regional level so
we can ensure again that the foresight
can be translated into um not only
action but coordinated implementations
rather than fragmented national approaches.
approaches.
>> Yeah. Thank you very much. And I'm the
very very last lucky speaker. So I'm
going to do my best to uh keep you a
little bit motivated on your way out. Uh
so firstly um back in April the IEA and
the UK government uh co-hosted the first
global summit on the future of energy
security summit and we were very very
lucky. So we had the deputy prime
minister from Malaysia attend as well as
several other very uh senior government
officials from Southeast Asia which made
me very proud uh to have their voice on
on the on the uh on the global stage.
And one of the key things that they
discuss, what we're calling a golden
rule of energy security is cooperation.
No country big or small is an energy
island. We're connected whether it's
through price, whether it's through uh
emissions, whether it's through
technological innovation. So that
cooperation is fundamental and key. And
I think what has been fantastic to hear
particularly today under the
chairmanship of Malaysia as the Azan
chair but obviously through the efforts
of all of the member states is a real
effort on the Azan power grid. I think
signing the enhancedou and the financing
facility really focusing on the need for
finance and the need on implementation
is an incredibly incredibly incredibly
important milestone for this region and
we shouldn't underestimate what that
will mean for the regional's energy security.
security.
I'm just going to share three key points
before finishing up. I think the first
thing is there is a lot of value in
putting into action as soon as possible.
Having some of these projects go early
as a kind of pathfinder as kind of
catalyst is really really inspirational.
So the Lao Thailand Malaysia Philippines
line that interconnection project which
has been operating for a while you're
seeing the molecules the electrons
flowing has been a real inspiration. So
you've got now, you know, potentially
the Brunai, Indonesia, Malaysia,
Philippines line, as well as many of the
other projects that are in the uh uh
Ames 3 uh master plan that um AC has
very much uh led and shown incredible
leadership on. So that importance of
putting into practice as soon as you can
and then using that as an inspir
inspiration for other projects. The
second thing is international best
practice. So thank you my colleague to
my left who has shared a little bit of
some of the learnings. I think it's a
really important way. Don't make the
mistakes of others. you know, take the
best of everyone else and then put it
into place here. I think one of the
potential areas that you can look at is
the Central America. It's called the
CEAC SI APC project. So, it is the
interconnection of the six Central
American countries fully integrated
market connected grid wise connected as
a power market. Now, listen, it took
them over 26 years between planning
first talking about it and uh being
operational. uh I hope the AAN power
grid will be slightly faster than that.
Uh but it has that real opportunity in
terms of learnings. How do they set up
the governance structure? Because they
do have a governance structure where all
the countries sit on the framework to
sort of decide the policy politically
and then an actual operator but also the
financing for how they put that in
place. And then the final one and I
think the most important thing is
remember it's all about the people. We
are going to need to think about that
capacity building the sharing between
the uh regulators and the policy makers
not just between Azan which we are at
the IIA very very uh happy to be part of
actively and support along with our
colleagues uh like ACE and UNSCAP and
World Bank and ADB but also from the
global perspective. So things like the
uh REIT the regulator energy transition
accelerator where all the regulators
from around the world talk about the
issues that they're facing really
practical things around the optimization
how do they run the smart grid how they
think about demand forecasting never
underestimate that importance of that
conversation directly by the people so
on that note you know again thank you
very much ACE for the opportunity to be
on this but I really do think that we're
at you know that real cusp at the moment
in Azan that real opportunity to make
that turning point uh with fantastic
people like TNB here uh in Malaysia and
a lot of the other utilities in in the
region. I I think it's it's a real
inspirational moment. Thank you for the opportunity.
opportunity.
>> Thank you. Thank you very much. Um I
think there are a lot of uh insights
that we can gather from that. Again you
always mentioned the importance of
regional cooperations and uh expanding
further that I mentioned between ASEAN
partner countries and also partner
institutions such as IA will be very
important uh especially on the insights
that we can gathered from the global
perspective how it can be applied into
the regional level including on how we can uh set up the institutional
can uh set up the institutional framework in here of course with the
framework in here of course with the ASEAN as the centrality and how it can
ASEAN as the centrality and how it can you know uh again turning this uh
you know uh again turning this uh foresight into a action in the ASEAN. So
foresight into a action in the ASEAN. So we have a very short time I think two
we have a very short time I think two minutes being left over there. So I just
minutes being left over there. So I just want to have a closing uh remarks from
want to have a closing uh remarks from everyone. So um the next five years what
everyone. So um the next five years what do you think the one single action that
do you think the one single action that will be very important to do by ASEAN so
will be very important to do by ASEAN so that we can achieve our targets in say
that we can achieve our targets in say uh 2030 especially since we have the new
uh 2030 especially since we have the new API 2026 2030 coming. So maybe from data
API 2026 2030 coming. So maybe from data first and then moving here. Thank you.
first and then moving here. Thank you. >> Thank you very much. I think uh if
>> Thank you very much. I think uh if you're talking about the one thing that
you're talking about the one thing that uh Assean
uh Assean probably can look forward to is uh I
probably can look forward to is uh I think the key word is uh calibrations.
think the key word is uh calibrations. So at all uh front that we can have uh
So at all uh front that we can have uh inclusive of uh regulations um
inclusive of uh regulations um infrastructure
infrastructure the uh commercial arrangement and also
the uh commercial arrangement and also the capability building among the uh the
the capability building among the uh the uh utilities u in Asia in Asia. So I
uh utilities u in Asia in Asia. So I think that that will be the key word
think that that will be the key word collaboration and it manifests uh along
collaboration and it manifests uh along the whole uh so-called value chain that
the whole uh so-called value chain that we are we are in. Thank you.
we are we are in. Thank you. >> Thank you. Sorry,
>> Thank you. Sorry, >> uh, keep the political momentum up. I
>> uh, keep the political momentum up. I think that that's going to be very, very
think that that's going to be very, very key. Making sure that you have the
key. Making sure that you have the political will. It is going to be hard
political will. It is going to be hard by the way. Let's not underestimate, you
by the way. Let's not underestimate, you know, the need to have those agreements
know, the need to have those agreements are not going to be easy. Uh, so I think
are not going to be easy. Uh, so I think keeping that political momentum that has
keeping that political momentum that has been secured this year are continuing
been secured this year are continuing into the next two and three year AAN
into the next two and three year AAN chairmanships.
chairmanships. >> Thank you. Uh, Dr. Lee,
>> Thank you. Uh, Dr. Lee, >> um, invite me. Uh I think the single
>> um, invite me. Uh I think the single most important action in the next five
most important action in the next five year is to build a truly integrated
year is to build a truly integrated regional framework that links data
regional framework that links data policies and investment decisions and so
policies and investment decisions and so that all member states can act together
that all member states can act together uh with uh clarity, confidence and the
uh with uh clarity, confidence and the short priorities.
short priorities. >> Thank you Dr. Tai.
>> Thank you Dr. Tai. >> Yes, I think for the next five year
>> Yes, I think for the next five year particularly we know that power sector
particularly we know that power sector transformation will be the front liner.
transformation will be the front liner. Then we prepare for the more structure
Then we prepare for the more structure kind of in term of the regulation
kind of in term of the regulation reform, market reform and operation
reform, market reform and operation reform. Meanwhile doing for the
reform. Meanwhile doing for the preparation for the other sector
preparation for the other sector transformation as well because for more
transformation as well because for more sector is take longer time for bring
sector is take longer time for bring into more you know asan discussion about
into more you know asan discussion about how we should prepare for the next 10
how we should prepare for the next 10 years.
years. >> Thank you. And um yeah please.
>> Thank you. And um yeah please. >> Um for me it's uh it will be the assean
>> Um for me it's uh it will be the assean power grid. Oh okay.
power grid. Oh okay. >> Because uh if if uh the ASEAN countries
>> Because uh if if uh the ASEAN countries can get to the point where there is a
can get to the point where there is a very clear road map to actually
very clear road map to actually executing the grid, it means all those
executing the grid, it means all those things of collaboration
things of collaboration um you know would have happened. So
um you know would have happened. So that's what I'd like to see.
that's what I'd like to see. >> Thank you very much. Um and I will not
>> Thank you very much. Um and I will not add any more and I think I would like
add any more and I think I would like just to thank all our five panelists for
just to thank all our five panelists for a very insightful discussions. Of
a very insightful discussions. Of course, we do have a limited time, but I
course, we do have a limited time, but I do hope that the audiences can catch up
do hope that the audiences can catch up to the speakers and have a follow-up
to the speakers and have a follow-up discussion right after this. And with
discussion right after this. And with that, again, thank you very much and big
that, again, thank you very much and big round of applause for our panelists.
round of applause for our panelists. And thank you very much. And with that,
And thank you very much. And with that, I would like to return back to our MC.
I would like to return back to our MC. Thank you.
Thank you. >> Thank you so much, Dr. Zulfikar, as well
>> Thank you so much, Dr. Zulfikar, as well as to all our panelists. We'll just take
as to all our panelists. We'll just take one group photo op with all of you.
one group photo op with all of you. Thank you once again.
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