Govts cannot shoulder energy transition alone, says Anwar

Prime Minister Anwar Ibrahim speaking at the GBA-Asean Conference on Energy Transition and Integration in Petaling Jaya, Selangor, today. (Bernama pic)PETALING JAYA: Prime Minister Anwar Ibrahim said governments cannot shoulder the energy transition alone, stressing that closer collaboration with private investors and project developers will be essential to achieving clean energy ambitions in the Asean region.Anwar said the scale of investment required meant governments could not finance the transition on their own.He said the need to accelerate the transition to renewable energy had become more pressing amid ongoing conflicts in the Middle East."National governments cannot bear this burden alone. Achieving the energy transition at scale will require unprecedented collaboration among the public sector, private investors and project developers," he said in his keynote address at the GBA-Asean Conference on Energy Transition and Integration here today."Global uncertainty and instability is becoming increasingly inadequate to describe the magnitude and degree of volatility, and the severity of the challenges confronting us today."Anwar said the Middle East conflict had not only claimed thousands of civilian lives but had also disrupted economies and energy supply chains, a situation worsened by the recent blockade of the Bab Al-Mandeb Strait.He warned that reliance on finite energy sources carried "inherent risks".Significant and sustained investment would be needed to build solar farms, upgrade power grids, install battery storage systems, and upskill workers, he said.Anwar also called on governments to deepen regional cooperation to accelerate the energy transition, urging Asean member states to strengthen engagement with China and other partner countries through Asean-led mechanisms such as the Asean Power Grid.He said incorporating the technological and structural innovations of China’s Greater Bay Area would help accelerate renewable energy deployment and build robust, modern power systems across borders.He said the energy transition must remain people-centred, warning that technological progress would be meaningless if it came at the expense of vulnerable communities.The International Energy Agency (IEA) estimates that Southeast Asia needs to reach close to US$190 billion in annual clean energy investments by 2035, requiring a fivefold increase from curr…