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Southeast Asia is one of the fastest-growing regions in the world for electricity demand due to the growing ownership of household appliances and increasing consumption of goods and services. According to S&P Global, regional power demand growth will reach 4.5%  from 2022-2031, nearly 1.5 times higher than the global average of about 3.1%. Of the region’s 10 countries, the four largest markets for electricity consumption are Indonesia (26 percent), Vietnam (22 percent), Thailand (19 percent), and Malaysia (15 percent), which make up more than 80 percent of the total demand in the region.

Thailand aims to be electricity hub for Southeast Asia.  The country is gearing for a sustainable energy transition and anticipates the following developments will lead to disruption in the energy sector: digitalization, decarbonization, decentralization, deregulation, and electrification.  The country needs to adopt new technologies in the energy sector and focus on energy efficiency.  The National Energy Plan 2023 plays a significant part in Thailand's move towards green and clean energy with aggressive measures to reach carbon neutrality between 2065 and 2070.  Reaching carbon neutrality requires deploying new technologies in the energy sector (e.g., advanced energy storage and electric vehicles) and increasing the penetration of existing low-carbon technologies (e.g., solar power) to uncharted levels. 

Join us for the informational webinar on January 11, 2024 to learn how U.S. companies can play a major role in providing know-how and technology in the region.