The ASEAN bloc has a total population of nearly 60m, making it the world's third largest market after China and India. The region is projected to record future growth of 4 to 6%, and its energy demand will rise in tandem by as much as 80% by 2040. ASEAN's primary energy mix is predicted to rise on average 4.7% each year to reach 1.685m tons of oil equivalent (mtoe) by 2035, according to the ASEAN Centre for Energy. From established to emerging nations, many ASEAN countries have bold energy ambitions for the future. Indonesia for example, plans to produce an additional 35GW of power by 2019 to lift the national electrification rate to close to 100% from 88% today. In Vietnam, the government targets to raise $148 billion for energy development from 2014 to 2030, to meet demand that is anticipated to grow 10.5% per annually from 2016 to 2020, and 8% annually throughout the next decade. Two billion people in the world do not have enough power to support social and economic development while more than a billion people don't have access to any electricity at all. The International Energy Agency, or IEA, projects global energy demand to increase by as much as one third by 2040.
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