Achieving 100% RE in Asia: Market Realities and Strategic Pathways

Written by: Jonathan PHILLIP

Verified by: George KIONGSON

Translated by: Una WU

Article available in English and Chinese

Source: Mt. Stonegate Green Asset Management, Ltd.

Over the past six weeks, Mt. Stonegate proudly hosted our first-ever online webinar series, “Achieving 100% RE in Asia: Market Realities and Strategic Pathways.” The series brought together over 300 global registrants, including sustainability leaders, energy experts, and policymakers, to explore Asia’s pathways to achieving 100% renewable electricity, in alignment with RE100 goals. 

The sessions focused on multiple Asian markets – Indonesia, Philippines & Laos, Singapore & Malaysia, India-Pakistan-Bangladesh, Thailand & Myanmar, and Vietnam & Cambodia – providing valuable insights into local energy landscapes and strategies for achieving a sustainable energy transition. 

Key highlights of the series include: 

1. Market Insights 

   
   

Policy frameworks and regulatory developments were identified as critical drivers for renewable energy adoption. Mature markets like Singapore are leading with advanced systems, while emerging markets such as Indonesia and Vietnam are making significant progress despite infrastructure challenges. 

2. Actionable Solution and Tools 

   
   

The series emphasized procurement tools such as Power Purchase Agreements (PPAs) and Environmental Attribute Certificates (EACs) as scalable solutions for businesses seeking renewable energy sources. Some local initiatives include:   

• Singapore: Consumers can choose Green Tariffs by paying a premium to electricity retailers such as SP Group, Geneco, and Sembcorp. This premium contributes to the generation or procurement of renewable energy, that is typically backed by Renewable Energy Certificates (RECs).   

  
  

• The Philippines: The Green Energy Option Program (GEOP) empowers end-users with a demand of more than 100 kW to choose renewable energy as their primary source, purchasing directly from licensed renewable energy suppliers. This initiative stems from the Retail Competition and Open Access (RCOA) framework, which also enables larger end-users (500 kW or more) to access competitive renewable energy options. 

3. Success Stories from Companies in designated countries 

   
   

We showcased success stories from companies in Singapore, Indonesia, and Malaysia that have successfully implemented renewable energy strategies, demonstrating how businesses can overcome infrastructure and policy challenges to achieve sustainability milestones.  

For instance, a company in the real estate sector in Singapore has adopted renewable energy procurement strategies, including solar power and PPAs, to meet ambitious climate targets. In Malaysia, a leading company in the agricultural sector has integrated self-generated solar and biomass energy into its operations, significantly reducing reliance on fossil fuels while advancing sustainable production practices. Similarly, a major player in the consumer goods sector in Indonesia has utilized unbundled Renewable Energy Certificates (RECs) and implemented on-site solar PV systems to decarbonize its operations. These examples illustrate how individual companies are taking bold steps to navigate country-specific challenges, set benchmarks for renewable energy adoption, and achieve sustainability goals in the region. 

What’s next? 

Asia’s booming economy is driving significant growth in renewable energy, positioning the region as a critical player in the global energy transition. However, despite this momentum, Asia’s renewable energy markets still face challenges in matching the maturity of regions like the EU or the US. To bridge this gap, increased investment in infrastructure and technology is essential, alongside progressive policy reforms that support long-term renewable energy adoption. Governments must prioritize clear and consistent regulatory frameworks, while businesses and stakeholders collaborate to accelerate change. With the right mix of investments and policy shifts, Asia can unlock its full potential and lead a sustainable energy future. 

This series marks a major milestone in Mt. Stonegate’s mission to drive sustainability across Asia. Building on this momentum, we are excited to announce more in-person training events in 2025, with the first taking place in South Korea. Stay tuned for more details as we continue working toward a 100% renewable future. 

This online webinar series would not have been possible without the support of our partners and supporting organizations. We extend our heartfelt gratitude to Mt. Stonegate Japan and E-Square for co-organizing the event. Additionally, we thank our supporting organizations—BCSD Taiwan, China Carbon Neutral Action Alliance, The Climate Group RE100, and the Korea Corporate Renewable Energy Foundation—for their invaluable contributions. We also deeply appreciate the outreach support provided by The Frontier Network and the Japan Climate Initiative. Their collective efforts played a pivotal role in making this webinar series a success. 

Together, we can lead you to a better future.  

Chinese Article

探索亞洲100 %再生能源路徑：市場驅動力與實施策略

過去六週，石門山綠資本有限公司(Mt.Stonegate) 舉辦了首屆線上研討會系列——「探索亞洲 100% 再生能源路徑：市場驅動力與實施策略」。活動吸引了來自全球超過300名與會者，包括永續發展高階主管、能源專家及政策制定者，共同探討亞洲如何以符合RE100 目標的策略實現100 %再生能源。

活動聚焦於多個亞洲市場，包括印尼、菲律賓與寮國，新加坡與馬來西亞，印度、巴基斯坦與孟加拉，泰國與緬甸，以及越南與柬埔寨，深入分析當地能源現狀並提供永續能源轉型的寶貴見解。

研討會亮點：

1. 市場洞察

政策框架和監管發展被認為是推動再生能源的重要動力。新加坡等成熟市場依靠先進的系統與政策引領，而印尼與越南等新興市場儘管面臨基礎設施挑戰，亦取得了顯著進展。

2. 可行解決方案與工具

研討會強調了購電協議（PPAs）和環境屬性證書（EACs）等採購工具，為企業提供實現再生能源目標的可行解決方案。

一些當地舉措包括：

•   新加坡：企業可以選擇綠色電費方案，支付額外費用給電力零售商，像是SP Group、Geneco 和Sembcorp等，且通常藉由再生能源憑證（RECs）來追蹤綠電使用。

•   菲律賓：綠色能源選項計劃（GEOP）允許用電量超過100 kW的終端用戶直接向再生能源供應商購買再生能源。此計劃基於零售競爭與開放准入（RCOA）框架，並為更大規模用戶（500 kW或以上）提供具競爭力的能源選擇。

3. 企業成功案例

研討會分享了新加坡、印尼和馬來西亞企業的成功經驗，展現了如何克服基礎設施和政策挑戰以實現永續目標。

例如新加坡一家房地產公司採用太陽能和購電協議等策略，達成其氣候目標；馬來西亞一家農業領域的龍頭企業將太陽能和生質能整合到運營中，大幅減少對化石燃料的依賴，同時推動永續生產實踐；印尼一家消費品龍頭企業利用電證分離的再生能源憑證(RECs)並增設太陽能光伏系統，有效減少運營所產生的碳排。這些案例突顯企業如何應對政策挑戰，為再生能源採用樹立標杆，並推進區域內的永續發展目標。

未來該如何執行呢？

亞洲蓬勃的經濟正推動再生能源市場快速增長，並成為全球能源轉型的重要角色。然而，亞洲市場仍需努力追趕歐美成熟市場。要縮小差距，需增加基礎設施與技術投資，同時推動長期政策改革。政府應制定清晰且一致的監管框架，企業與相關利益者需通力合作。通過適當的投資與政策調整，亞洲有望釋放市場潛力，引領永續能源未來。

這系列研討會是 Mt. Stonegate 推動亞洲永續發展的重要里程碑。我們欣然宣布，2025年將舉辦更多實體培訓活動，首場活動將於韓國舉行。請持續關注更多詳情，與我們共同邁向100 %再生能源的未來。

我們感謝合作夥伴與支持者的貢獻，使此次研討會圓滿舉行。特別感謝Mt. Stonegate Japan和E-Square的協辦，以及BCSD Taiwan、中國碳中和行動聯盟、The Climate Group RE100和韓國企業再生能源基金會（CREF）的支持。我們也感謝The Frontier Network和日本氣候倡議組織（JCI）提供的外聯支持。這些夥伴的努力是此次活動成功的關鍵。

石門山，引領您走向更美好的未來。