CCS in Southeast Asia | McKinsey
The viability of CCS in Southeast Asia depends not only on technical measures that could reduce costs by 10 to 20 percent by 2030 and beyond but also on a range of
Leading the way for the region, Singapore launched the largest energy storage project in Southeast Asia in 2024. Coordinated by the Singapore Energy Board and invested and constructed by Singapore Sembcorp Group, the project is located on Jurong Island, Singapore's energy and chemical center.
By offering a reliable, scalable, and sustainable solution for energy storage, BESS presents an opportunity to meet both current and future energy needs while supporting the transition to a green economy. Conclusion Battery Energy Storage Systems (BESS) are quickly becoming a key part of Southeast Asia's energy future.
Southeast Asia's exponential growth in electricity demand, averaging over 6% annually over the past two decades, has created an urgent need for reliable and flexible energy storage solutions. This surge in demand is primarily driven by increasing ownership of household appliances and rising consumption of goods and services across the region.
The Philippines has become the most policy driven battery storage market in Southeast Asia. Through Green Energy Auction Program (GEA) 4, the Department of Energy has integrated storage as a mandatory element of large-scale renewable tenders. This decision has created a multi gigawatt pipeline of projects that have a clear commercial path.
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