Southeast Asia¡¯s sputtering green transition is prompting European utilities to rethink their investments in the fast-growing region, a shift that underscores investor frustration with what was until recently a promising renewable-energy market.
Large green-power groups including Portugal¡¯s EDP Renewables and Denmark¡¯s Orsted have paused projects or withdrawn from certain countries in the past two years, blaming a lack of long-term policy clarity, and have pushed instead into more advanced Asia-Pacific markets.
The retreat is a direct result of red tape, disconnected grids and vacillating governments ¡ª and it will likely prolong the region¡¯s struggle to move away from coal, which still accounts for the lion¡¯s share of its power generation.
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