Green data centers, boosted by energy efficiency regulations in Malaysia and Singapore, helped drive the largest investment dollars in Southeast Asia, according to a new report.
Last year, Malaysia attracted large-scale green financing of over $500 million for at least two data centers, according to the Monday report. The financing for the projects helped the country make the biggest year-over-year jump in green investments out of all countries in the region, up 326% from 2022.
Renewable energy accounts for less than 10% of the region's energy supply, with fossil fuel subsidies being around five times higher than renewable investments, she added. Green investment towards power in the region fell by 14% year-over-year for the second year in a row.