, APAC

Asia to account for 63% of renewable capacity additions until 2031

Around 66% will be coming from the non-hydropower sector.

Around two terawatts (TW) of new renewables capacity over the decade until 2031, with Asia leading the growth and accounting for 63% of the capacity growth, according to Fitch Solutions.

In a report, Fitch revised its global outlook from 1.8TW.

“This is driven by new efforts to ensure regional energy security amid volatile energy markets and more aggressive renewable targets,” it said.

“Surging renewable growth in the near term will stabilise slightly over the coming decades as the effects of COVID-19 delays and stimulated growth are eased,” it added.

READ MORE: Solar to dominate non-hydropower capacity in MENA

Asia, meanwhile, is expected to see non-hydropower renewables account for around 66% of its capacity growth, with upside risks due to increasing support for renewables amidst the energy transition.

Wind power generation will surpass solar as further technology developments in the sector will support its growth.

Mainland China will still be the main contributor to the region’s Asia’s non-hydropower renewables growth with its robust solar and wind equipment manufacturing industry along with strong governmental commitments.

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!