Photo 1. Group photos from the Roundtable Policy Discussion on Day 1 (left) and the Capacity Building Session on Day 2 (right).
Singapore, 8 -9 July 2026 – ASEAN Centre for Energy (ACE) held a hybrid Roundtable Policy Discussion and Capacity Building, focusing on the topic of “Bridging Policy and Finance to Mobilise Public-Private Capital for ASEAN Energy Investment”. The event brings together ASEAN Member States (AMS), financial institutions, energy researchers, and private-sector leaders. The event focuses on deepening understanding of current landscape of AMS, including how to increase bankability of energy projects bankability and address its challenges.
Photo 2. Dato’ Ir. Ts. Razib Dawood, Executive Director of ACE, delivering opening remarks to welcome the participants (left), and Rhea Oktaqiara (ACE) presenting scene-setting (right).
The Roundtable Policy Discussion was held on the first day and officially opened with opening remarks from Dato’ Ir. Ts. Razib Dawood, Executive Director of ACE, who highlighted the need to develop a more resilient, diversified, and sustainable regional energy system capable of withstanding external shocks. It was continued with a scene-setting presentation by Rhea Oktaqiara, Junior Analyst of Energy Modeling and Policy Planning (MPP) at ACE, who provided context of the current ASEAN energy investment landscape with a focus on derisking mechanisms.
Photo 3. (From top-left to bottom-right) Dr. Dina Azhgaliyeva (ADB), Zhen-Hui Eng (Baringa Partners), Raysieo Duakin (ACE), Ferry Kurniawan (BI), and Dr. Ambiyah Abdullah (ACE) in Panel Session 1 on Day 1.
The Roundtable Policy Discussion covered four main topics across four panel sessions. The first session focused on Macroeconomic Dynamics and Its Implications on ASEAN Energy Investment, moderated by Dr. Ambiyah Abdullah, Senior Economist of MPP, ACE. This session particularly aims to address how the energy sector is impacted by the recent geopolitical tensions. As the first presenter, Dr. Dina Azhgaliyeva, Senior Economist at the Asian Development Bank (ADB), centered her materials on green bonds in the midst of recent global oil shocks. Then, Zhen-Hui Eng, Director at Baringa Partners, discussed how recent energy shocks show that demand for more affordable and sustainable energy solutions, including renewable energy, will persist over the next decade. In a country-specific context, Ferry Kurniawan, Deputy Director for Projection and Model Development at Bank Indonesia (BI), shared Indonesia’s efforts to coordinate monetary and fiscal policy in response to energy price shocks. Meanwhile, Raysieo Duakin, Senior Research Analyst for Fossil Fuel, Hydrocarbon, and Minerals (FOM) at ACE, gave an overview of how ASEAN countries are responding to the global energy shocks, including a call to expand investment in renewable energy and energy-efficiency measures.
The discussion moved to the second panel session, Designing Effective Policy Instruments and Derisking Mechanisms, moderated by Naing Naing Linn, Manager of Energy Efficiency and Conservancy (EE&C) at ACE. Ellen Yong, Chief Financial Officer/Chief Risk Officer at SEADRIF, explained the importance of integrating insurance early in project design, seeing it not as a cost but as an investment. Prof. Farhad Taghizadeh-Hesary of Tokai University emphasized the advantages of partial and risk-based credit guarantees. Dr. Rosmahani Binti Mohd Shah, Senior Researcher in the Strategic Planning Department at SEDA Malaysia, discussed Malaysia’s practice in the Feed-in Tariff, which addresses perceived risk and therefore improves project bankability. Chansophea Oum, Vice Chief of Office in the Department of Cooperation at Cambodia’s Ministry of Mines and Energy, presented Cambodia’s long-term energy planning through its Power Development Master Plan.
Photo 4. (From top-left to bottom-right) Ellen Yong (ADB), Prof. Farhad Taghizadeh-Hesary (Tokai University), Dr. Rosmahani Binti Modh Shah (SEDA Malaysia), Chansophea Oum (Ministry of Mines and Energy Cambodia), and Naing Naing Linn (ACE) in in Panel Session 2 on Day 1.
The third panel session, Managing Investment Risks and Strengthening Project Bankability, was moderated by Dr. Zulfikar Yurnaidi, Manager of MPP Department, ACE. It featured Nadhilah Shani, Manager of the PIN Department at ACE, highlighting initiatives such as the ASEAN Power Grid Financing Initiative and the Partnership for ASEAN Connectivity on Energy as important platforms for connecting project developers with financiers. Hannah Cao, General Counsel of the Silk Road Fund, discussed the conditions required to make renewable-energy projects bankable in emerging markets. Monika Merdekawati, Senior Research Analyst for Sustainable and Renewable Energy at ACE, explained how Renewable Energy Certificates (RECs) can complement the physical ASEAN Power Grid by verifying that traded electricity comes from renewable sources; and Kavin Sayavong, Director of Division at the Department of Policy, Planning and Evaluation, Ministry of Industry and Commerce of Lao PDR, described how Laos manages currency risk by linking major project revenues to stable foreign currencies.
Photo 5. Nadhilah Shani (ACE), Hannah Cao (SLF), Monika Merdekawati (ACE), Kavin Sayavong (Ministry of Industry and Commerce Lao PDR), and Dr. Zulfikar Yurnaidi (ACE) in Panel Session 3 on Day 1.
The final panel session, Mobilising Public–Private Capital and Actionable Plans, was moderated by Dr. Ambiyah Abdullah. First, Albertus Prabu Siagian, Senior Analyst at the Climate Policy Initiative (CPI), presented how energy-transition financing depends on the balance between the demand for and supply of funds. Dan Resky Valeris, Senior Research Analyst for EE&C at ACE, discussed ACE’s efforts to unlock energy-efficiency investment through credit guarantees and energy-savings insurance. Ponciano Armindo Castelhano, Senior Officer at DGREAS Timor-Leste, highlighted Timor-Leste’s energy investment opportunities and challenges, including the development of solar, wind, and battery storage, as well as public–private partnership schemes. Ramnath N. Iyer, Sustainable Finance Lead for Asia at the Institute for Energy Economics and Financial Analysis (IEEFA), then joined the panel discussion and highlighted that ASEAN’s main challenge is not simply a lack of financing, but a shortage of bankable projects, clear revenue structures, credible regulations, and power-grid systems capable of building investor confidence.
Photo 6. Albertus Prabu Siagian (CPI), Dan Resky Valeris (ACE), Ponciano Armindo Castelhano (DGREAS Timor-Leste), and Ramnath N. Iyer (IEEFA) in Panel Session 4 on Day 1.
Day 2 of the event moved to the Capacity Building Workshop on Strengthening Capacity for Bankable Energy Transition Projects in ASEAN. Building on the policy discussions from the previous day, Dr. Ambiyah Abdullah recapped the first session and introduced the workshop agenda, objectives, and expected outcomes.
The first module, Understanding Bankability in Energy Projects, was presented by Benjamin Treves, Senior Manager of Sustainable Finance & Transition at HSBC. The presentation covered the key principles of project bankability, emphasizing how effective risk management can strengthen investor confidence and attract financing for energy projects. It also highlighted the role of comprehensive due diligence in strengthening project bankability, before introducing corporate Power Purchase Agreements (PPAs) as an emerging financing mechanism to enhance revenue certainty and support renewable energy deployment across ASEAN.
Building on this foundation, the second module, on Policy, Regulatory, and Institutional Frameworks for Bankable Energy Projects, was presented by Prof. Farhad Taghizadeh-Hesary of Tokai University. The presentation focused on policy measures to strengthen the bankability of project pipelines and improve access to long-term financing for renewable energy projects. It further emphasized financing innovations, including greater participation of institutional investors and diversified financing mechanisms, to support sustainable energy investment in ASEAN.
Photo 7. Prof. Farhad Taghizadeh-Hesary (Tokai University) delivering presentation on the enabling environment for bankable energy projects in ASEAN.
The workshop next explored Co-Financing Mechanisms for Energy Projects through the third module, presented by Luthfyana Kartika Larasati, Senior Manager at Climate Policy Initiative (CPI). The presentation examined the role of blended finance and other co-financing instruments in mobilising investment for energy projects in ASEAN. She also highlighted the region's significant clean energy investment gap and presented Indonesia's blended finance approach as a practical example of strengthening project bankability and attracting private investment.
Photo 8. Luthfyana Kartika Larasati (CPI) presenting co-financing instruments for energy projects in ASEAN.
The workshop then proceeded to the final module, "Structuring Investment-Ready Energy Projects," presented by Sharon Liew Siu Wei, Senior Consultant and Regional Lead for Sustainable Finance Training at Asian Banking School. The presentation outlined key considerations for developing investment-ready energy projects, focusing on financial viability and suitable financing instruments through an interactive session. The session particularly emphasised how effective environmental, social, and governance (ESG) risk management influence investment decisions and project bankability.
Photo 9. Sharon Liew Siu Wei (ABS) during her presentation on structuring investment-ready energy projects.
In concluding the workshop, Dr. Zulfikar Yurnaidi (ACE) delivered the key takeaways and closing remarks. He highlighted the importance of bridging policy and finance to mobilise public-private capital by strengthening project bankability and fostering collaboration among key stakeholders.
The Roundtable Policy Discussion and Capacity Building were part of ACE’s efforts to enable AMS to bridge ASEAN's energy investment gap, support the implementation of the APAEC 2026–2030, and accelerate the region's low-carbon energy transition. The event complements previous ACE work, including the ASEAN Energy Investment 2025 report.
Read more publications related to ASEAN Energy Investment here.
