1、A Joint Report by the International Energy Agency and Imperial College LondonASEAN Renewables:Opportunities and ChallengesMarch 20232Table of ContentsExecutive SummaryIntroductionInvestment Opportunities and ChallengesASEAN Renewable Power InvestmentsThe role of blended finance Cost of capital metri

2、cs for ASEAN infrastructure and renewablesOnshore Wind Utility-Scale Solar PVCommercial-and Industrial-Scale Solar PVFinancial performance of ASEAN infrastructure and renewablesHistorical risk and returnPriorities and Potential SolutionsBox 1:Better data and transparency The Cost of Capital Observat

3、oryBox 2:Stronger remuneration frameworks the case of auctions in CambodiaBox 3:More robust market for sustainable finance ASEAN taxonomyBox 4:Enhanced role for DFIs and blended financeBox 5:Risk Management Exchange Rate Coverage FacilityBox 6:Improved power system connectivity the ASEAN gridConclus

4、ion and ImplicationsAnnex A:Country SheetsAnnex B:IEA ScenariosAnnex C:SE Asia Unlisted Infrastructure Index Breakdown(EDHEC)Annex D:Index Return and Volatility Calculation Methodology3468111214161719192222232425262728304243443Executive SummaryThis report aims to improve financial transparency and p

5、rovide more data pertaining to clean energy investments in Association of Southeast Asian(ASEAN)Member States1.Our research has conceptualized renewable energy risk and return qualitatively and quantitatively.The report further clarifies the opportunities and barriers for private sector investors,as

6、 well as priorities and potential solutions for scaling up renewables investment.Individual ASEAN countries have been analysed separately,and as constituent parts of the regional dynamic.ASEAN countries such as Vietnam,Thailand,Malaysia,Indonesia and Singapore have all committed to either net-zero e