From pv magazine ESS news place
Southeast Asia is focusing on pumped-storage hydropower plants to help the country become a clean energy powerhouse in the coming years. According to data from energy research specialist Rystad, the region is currently hugely dependent on fossil fuels: 64% of total energy generation comes from fossil fuels.
The company’s latest Southeast Asia data shows the region is targeting a major clean energy shift 2.3 GW of pumped hydropower today to 18 GW in 2033. This is an almost eightfold increase in capacity in just under ten years.
According to Rystad’s figures, 2.7 GW of pumped hydroelectric power stations are currently under construction, while the remaining 13.3 GW are in various stages of development. This activity is expected to attract an estimated total investment of between $12 and $70 billion.
Thailand and the Philippines are currently the main renewable energy hotspots in Southeast Asia. Thailand is expected to add 1.6 GW of capacity by 2033. However, Rystad’s data predicts that the Philippines will soon overtake Thailand as the country with the most pumped hydropower capacity. The Philippines has about 5.7 GW of capacity in the pipeline.
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