Fitch Solutions
Fitch Solutions provides crucial intelligence to help its clients understand and interpret markets, so they can protect their organisations’ interests and help to grow profitability.
Asia to account for 63% of renewable capacity additions until 2031
Around 66% will be coming from the non-hydropower sector.
Asia to account for 63% of renewable capacity additions until 2031
Around 66% will be coming from the non-hydropower sector.
Solar to dominate non-hydropower capacity in MENA
It will reach 42GW in 2031.
Australia, India amongst key emerging offshore wind markets
This is due to the government policies supporting the growth of offshore wind.
Asia’s offshore wind to reach over 100GW in 2031: report
This is up from only 27.3GW in end-2021.
India may not reach 175GW RE capacity target by 2022: Fitch
The passage of the Energy Conservation (Amendment) Bill will support its growth.
Japan should consider alternative power sources to avoid supply shortage: Fitch
Natural gas holds the largest share in the country’s power mix.
Indonesia has the highest geothermal capacity under development: Fitch
Of the 41 projects under development in Asia, 26 were from Indonesia.
Philippines is 3rd largest geothermal market globally: Fitch
Its installed capacity is estimated at 1,928MW in 2021.
Nuclear restart calls rise in Japan amidst surge in oil, gas prices
LNG on-arrival prices rose 62% YoY in January, according to Fitch.
Why cost of geothermal power plants will remain high
This leads to an increase in the LCOE to $0.071 per kWh from $0.049.
Asia to lead global geothermal capacity growth
Key markets in the region are Indonesia, the Philippines, and New Zealand.
Asia leads in biomass capacity additions
The region is more cost attractive compared to North America and Western Europe.
Asia to account for over 60% of global solar growth
Solar capacity in the region will grow by about 760GW from now to 2031.
‘Strongest’ growth potential in gas-to-power sector seen in APAC: report
This includes Southeast Asian markets, such as Vietnam, and the Philippines amongst others.
APAC is ‘outperformer’ in gas generation: Fitch
Its gas generation volume will rise by 898TWh from 2022 to 2031.
Non-hydropower to grow 230GW annually from 2020 to 2024
Asia will be the key growth driver, accounting for 55% global generation growth.
RE adoption to accelerate due to gas market volatility
Asia is expected to generate 831TWh of gas-fired power over the decade.
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