The 38th ASEAN Ministers of Energy Meeting (AMEM) held virtually on November 19, 2020, and hosted by Vietnam, endorsed the APAEC Phase II: 2021-2025, retaining the same theme of “Enhancing Energy Connectivity and Market Integration in ASEAN to Achieve Energy Security, Accessibility, Affordability and Sustainability for All”. A sub-theme was added: “Accelerating Energy Transition and Strengthening Energy Resilience through Greater Innovation and Cooperation.”
The APAEC Phase II: 2021-2025 builds on the success of APAEC Phase I: 2016- 2020 and sets out ambitious targets and initiatives to enhance energy security and sustainability. It also supports the United Nations Sustainable Development Goal 7 (UN SDG7).
Under the APAEC Phase II, ASEAN will enhance its efforts towards building an ASEAN Power Grid by expanding multilateral electricity trading to provide affordable and resilient electricity, while accommodating higher shares of renewable energy towards the energy transition and a sustainable energy future.
On energy efficiency and conservation, market transformation initiatives in favour of energy-efficient technologies will be implemented in buildings, transport, and industry sectors to achieve the 32% Energy Intensity reduction aspirational target by 2025 based on 2005 levels
ASEAN will aim to achieve its aspirational targets of 23% share of RE in Total Primary Energy Supply and 35% share of RE in ASEAN installed power capacity by 2025 through deploying large-scale renewable energy systems, accommodating higher shares of RE in the APG, increasing RE investments, and exploring new and emerging energy technologies such as hydrogen and fuel cells.
ASEAN will promote regional initiatives to enhance human resource capability on nuclear science and technology for power generation.