Kuala Lumpur (VNA) - The 43rd ASEAN Ministers on Energy Meeting (AMEM-43) and related meetings have concluded successfully, yielding significant outcomes that help strengthen regional cooperation in energy security and sustainable finance.
Malaysia’s Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also Energy Transition and Water Transformation Minister said these include the endorsement of an enhanced Memorandum of Understanding on ASEAN Power Grid (APG).
He said others were the endorsement of new ASEAN Plan of Action for Energy Cooperation (APAEC) 2026–2030 that would serve as the region’s roadmap for the next five years and the endorsement of the ASEAN Petroleum Security Agreement (APSA) Successor Agreement.
Fadillah said other Priority Economic Deliverables (PED) and important initiatives achieved during AMEM-43 were the launch of the ASEAN Power Grid (APG) Financing Initiative supported by the Asian Development Bank and the World Bank. Also achieved, he Renewable Energy Long-term Roadmap.
Fadillah said Asean’s renewable energy portfolio has continued to grow, reaching 33.5% of installed capacity and 14% of total primary energy supply in 2023, close to the 2025 goals of 35% and 23% respectively.
In the coming period, ASEAN aims to raise the share of renewable energy to at least 40% by 2030, expand the application of digital technology and Artificial Intelligence (AI) in power grid management, and strengthen financial cooperation with global organisations such as the Asian ADB, the WB, the International Energy Agency (IEA), and the International Renewable Energy Agency (IRENA).
The outcomes of the AMEM-43 once again demonstrated ASEAN member states’ strong determination to enhance regional cooperation in accelerating the energy transition and contributing to the realisation of a green, inclusive, sustainable, and prosperous ASEAN Community./.
