Southeast Asia's Energy Grids Struggle to Keep Up with Renewable Revolution
The energy crisis caused by the War in Iran has hit Southeast Asia particularly hard, leaving many nations scrambling to shore up their localized energy supply chains.
The Strait of Hormuz closure in February this year cut off around 20 percent of the world's oil and gas flows, with about 80 percent of oil and 90 percent of natural gas destined for Asian markets.
Southeast Asia's high dependence on energy imports and low economic capacity to absorb market shocks made it especially vulnerable to price volatility.
The crisis has kickstarted a renewable revolution in the region, but Southeast Asian nations' ageing and overburdened grids are ill-prepared for a quick build-out of indigenous renewable energy capacity.