Jakarta (ANTARA) - The ASEAN Energy Business Forum (AEBF) will strengthen the region's position in the global energy landscape, executive director of the ASEAN Center for Energy (ACE), Nuki Agya Utama, said here on Thursday.

Utama informed that the AEBF will be held by the Energy and Mineral Resources (ESDM) Ministry and ACE from August 24–26, 2023, in Bali.

It will be themed "Acceleration of Energy Connectivity to Achieve ASEAN Sustainable Growth," which aligns with the vision of the Indonesian ASEAN chairmanship of making ASEAN the center of economic growth regionally and globally.

The forum's implementation will coincide with the 41st ASEAN Ministers on Energy Meeting (AMEM) and the 3rd ASEAN International Conference on Energy and Environment (AICEE).

According to him, the conferences will be held at the same time as part of an effort to strengthen their impact and significance, especially in building relations and cooperation to strengthen ASEAN's position.

He expressed the hope that the conferences will support ASEAN's goal of becoming a dynamic and influential region in the global energy landscape.

"The region is also rich in raw materials that support clean energy: bauxite, nickel, and rare earth metals can be found in Indonesia, Myanmar, the Philippines, and Thailand. Vietnam and Malaysia are the largest producers of solar modules in the world," Utama noted.

According to him, the region requires large funding to realize a sustainable energy transition.

He then listed some challenges to the energy transition, such as mobilizing huge investments in energy systems, ensuring successful transitions, maximizing economic opportunities, and minimizing social disruptions.

Therefore, the forum needs to discuss innovative and large-scale financing, such as public and private financing, he said.

Dialogues and further actions between institutional investors, multilateral development banks, other financing institutions, and the industry are necessary to support a sustainable energy transition, Utama added.

Related news: ASEAN has potential to become solar panel manufacturing hub: IESR
Related news: Indonesia pushes ASEAN collaboration on energy transition
Related news: ASEAN owns abundance of renewable energy potential: Minister Tasrif

Translator: M Heriyanto, Kenzu
Editor: Azis Kurmala
Copyright © ANTARA 2023