Brunei Darussalam: How to Build an Investment Climate for Renewable Energy?
Brunei Darussalam has yet to make major progress in renewable energy and become an attractive destination for investors. Only 0.05% of Brunei’s electricity came from renewable energy sources, while 99.95% was based on fossil fuels. In 2014, the country set a renewable energy target of 10% in the power generation mix by 2035. To reach the target, it needs to increase the share of renewables by 0.66% every year from 2020 to 2035. The country still needs to adopt a regulatory regime to scale up the development of renewable energy, particularly solar energy, which is more abundant than wind energy. We propose five actions to build the investment climate for renewable energy in Brunei Darussalam: prioritise renewable energy in the governance system; adopt and implement key legislation; mobilise domestic investors; improve market entry for foreign investors.
ASEAN Centre for Energy (ACE)