Photo 1. Group Photo of FGD INSPACE in (from left to right) the Philippines, Malaysia, and Thailand. 

The ASEAN Centre for Energy (ACE), supported by the Energy Foundation China, held the Focus Group Discussion on Investment Pathways for ASEAN Low-Carbon Energy (FGD INSPACE) series. The FGD INSPACE was held in person in three ASEAN Member States (AMS)—the Philippines, Malaysia and Thailand, with an additional virtual discussion at the regional level. Attended by participants from diverse energy stakeholders, this activity served as a platform to discuss the region’s opportunities and challenges in scaling energy and low-carbon energy investment. The insights gained from the discussion will contribute to the development of the ASEAN Capacity Building Roadmap on Energy Investment and the ASEAN Energy Investment 2025 report. 

Photo 2. (From top-left to bottom-right) Dr Andy Tirta (ACE) delivering welcoming remarks; handover picture of AEO8 with H.E. Felix William B. Fuentebella (DOE), Asdirhyme Abdul Rasib (PETRA), and Watcharin Boonyarit (MOEN) after welcoming remarks. 

As a kickstart, the first FGD INSPACE in Bonifacio Global City, the Philippines, was conducted on 15 April 2025, and co-hosted by the Philippines’ Department of Energy (DOE). The event had the honour of receiving a welcoming remark from His Excellency, Felix William B. Fuentebella, Senior Official on Energy (SOE) Leader, Undersecretary at the DOE of the Philippines. It was followed by FGD INSPACE in Putrajaya, Malaysia, on 17 April 2025, with the Ministry of Energy Transition and Water Transformation (PETRA) as the event’s co-host. Asdirhyme Abdul Rasib, Undersecretary of the Sustainable Energy Division of PETRA, was present to deliver his welcoming remarks. The third and last series of the event was held in Bangkok, Thailand, on 15 May 2025, supported by Thailand’s Ministry of Energy (MOEN), with opening remarks from Watcharin Boonyarit, Deputy Director General of the Energy Policy and Planning Office (EPPO). To complement their warm greetings, Dr Andy Tirta, Manager of Corporate Affairs Department in ACE, also delivered his remarks, reaffirming the urgency for ASEAN to optimise its energy investment opportunity for a sustainable and resilient energy transition. 

Photo 3. Country presentation of the Philippines by H.E. Felix William B. Fuentebella (left) and Thailand by Patcharaporn Phasukavanich (right) 

To provide more background on the topic, each discussion was accompanied by scene-setting presentations from the host countries and ACE. From the Philippines, H.E. Felix B. Fuentebella delivered a presentation on the country’s energy investment landscape based on the Philippine Energy Plan 2023-2050 scenario, including the USD 80.7 billion of total required energy investment by 2028, which would involve projects in the upstream, downstream, and power sector. In Thailand, the presentation was delivered by Patcharaporn Phasukavanich, Director of the Strategy and Planning Division, EPPO. She highlighted Thailand’s current status of national energy policies and implementation, including the National Energy Plan (NEP) Framework, which has up to THB 2.8 trillion investment opportunities. 

Photo 4. Rika Safrina, Senior Analyst in ACE, at the session ‘8th ASEAN Energy Outlook: Projecting ASEAN Energy Landscape and Financing’ in FGD INSPACE Malaysia. 

Rika Safrina, Senior Analyst in ACE, presented key findings from the 8th ASEAN Energy Outlook (AEO8) on the regional and country levels. She highlighted the region’s power investment cost, ranging from USD 28 billion to USD 371 billion in 2041-2050. She also highlighted the annual power investment cost in 2041-2050 at the national level under the implementation of national policies scenario—about USD 8.8 billion in the Philippines, USD 20.83 billion in Malaysia, and USD 6.75 billion in Thailand. Despite the high capital cost, it will also lead to lower externality costs in the long term. The agenda continued to dive deeper into energy investment in ASEAN and respective countries. Dr Ambiyah Abdullah, Senior Researcher in ACE, presented the key insights from the ASEAN Energy Investment 2024 report and the ASEAN Capacity Building Roadmap on Energy Investment.  

Photo 5. Dr Ambiyah Abdullah, Senior Researcher in ACE, leading the discussion session with participants at the FGD INSPACE Thailand. 

Entering the main agenda, Dr. Ambiyah then led an interactive discussion to gain insights from participants on their respective countries’ energy investments. The questions were categorised into three sections: progress, key challenges, and enabling policies and financial instruments for energy investment in their country. 

Photo 6. Ms Syahira Narizta Syahputri, Business Development Officer in ACE, presenting the AEBF-25 at FGD INSPACE Malaysia. 

The FGD INSPACE in ASEAN Member States (AMS) concluded with a presentation by Syahira Narizta Syahputri, Business Development Officer in ACE, on the introduction of the 25th ASEAN Energy Business Forum (AEBF-25), ACE’s flagship conference held annually that brings high-level policymakers and business players in the energy sector together. As a closing, Dr Andy Tirta gave Closing Remarks, summarising the key takeaways from the event and encouraging more collaborations to advance ASEAN’s investment in supporting low-carbon energy transition. 

 Photo 7. Group picture of FGD INSPACE Online. 

In addition to the in-person discussion series, FGD INSPACE held a virtual event on 24 June 2025 to accommodate all AMS. It was officially opened by Dr Zulfikar Yurnaidi, Manager of Energy Modelling and Policy Planning in ACE, who underlined ASEAN’s energy transition targets and the importance of energy investment in facilitating low-carbon technology adoption. The virtual discussion, which was attended by representatives from various AMS, also featured an additional session to gain insights on energy investment at the regional level in addition to the national level. To wrap up the event, Dr Zulfikar delivered his gratitude for the active participation and the hope that the insights will shape ASEAN’s sustainable financing in the future. 

To read more on ASEAN’s energy investment, access our ASEAN Energy Investment 2024 report.