The Asia Clean Energy Coalition was launched to speed up corporate clean energy procurement in the region.
In a statement, the Global Wind Energy Council (GWEC) said the coalition “seeks to align the world’s leading clean energy buyers, project developers and financiers, to help policymakers, utilities and energy regulators innovate and deploy cost-effective clean technologies across the Asia-Pacific region.”
The coalition also envisions that clean energy is accessible, affordable, and accountable at scale to Asia’s markets by 2030, with effective procurement frameworks, regulation and investments.
ACEC is founded by the Climate Group, GWED, and the World Resources Institute.
Other founder members include Amazon (AWS), Apple, Cisco, Enel Green Power, Google, Iberdrola, Ingka Group (Largest IKEA franchisee), Mainstream Renewable Power, Meta, MUFG, Nike, Ørsted, Samsung Electronics and Sembcorp.
GWEC noted that clean energy investment in the Asia Pacific is expected to reach $1.3t by 2030, doubling from the previous decade.
It added that the region’s power system relies heavily on coal, gas, and other fossil fuels, with Southeast Asia’s solar and wind power share in the energy mix, only scaling up to 11% by 2030 under the current ASEAN policy settings. This is far below the region’s potential and insufficient to reach global and national decarbonisation goals.