A road less travelled: industrializing emerging markets through hydropower

The state of Sarawak, Malaysia, has a higher credit rating than most other countries in Southeast Asia. Its rapid economic development over the past five years results largely from the State Government’s recognition that harnessing the substantial available hydropower potential could industrialize the state, attract foreign investment, create employment opportunities, and generate additional tax revenue for other public infrastructure. This paper reviews the implementation and success of the SCORE (Sarawak Corridor of Renewable Energy) initiative, which involves a number of major hydro projects, including Bakun (2400 MW), Murum (944 MW) Baram (1200 MW) and Baleh (1300 MW). It is suggested that this could be a precedent for other emerging economies in the region.