FADILLAH URGES ASEAN TO BOOST CLEAN ENERGY INVESTMENT THROUGH PARTNERSHIPS, GREEN FINANCING

KUALA LUMPUR, Oct 15 (Bernama) -- ASEAN should aim to become a destination for clean energy investment by unlocking public-private partnerships, green financing and climate funds, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

He said the region’s energy transition requires billions of dollars in investments in generation, transmission, innovation and human capital, underscoring the need for effective financing mechanisms to ensure successful implementation.

“ASEAN should aim to 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,” he said at the Energy Foresight for ASEAN – From Shared Vision to Regional Action session, held in conjunction with the ASEAN Energy Business Forum (AEBF) 2025, here today.

Fadillah, who is also Minister of Energy Transition and Water Transformation, emphasised that accelerating the clean energy transition will require close collaboration between governments, businesses, and financial institutions to mobilise capital and drive sustainable regional growth.

He said ASEAN should also double down on regional energy cooperation to move forward as a region.

Initiatives such as the ASEAN Power Grid (APG) and the Trans-ASEAN Gas Pipeline (TAGP) will be critical enablers of regional energy security and sustainability.

“By connecting our energy systems, we can share resources and accelerate the transition. Multilateral trade and cross-border infrastructure will be essential in realising our dreams. 

“This is why ASEAN is renewing our commitment to the APG through the Enhanced APG Memorandum of Understanding (MoU),” said Fadillah.

The MoU would enable ASEAN to work more closely to strengthen regulatory frameworks, harmonise standards, and build trust among member states.

He said the energy ministers are eager to deliver more progress and work together to realise ASEAN’s common vision, but are also aware that none of these initiatives can move forward without an effective financing mechanism.

Fadillah said that the ministers recognise strong governance as the backbone of the energy transition, and that consistent, coordinated policies among member states supported by long-term planning, transparent targets, and inclusive decision-making will drive greater collective action for the region.

-- BERNAMA