APAC
APAC markets adjust energy transition plans
APAC markets adjust energy transition plans
Countries may miss 2030 energy targets due to higher demand, slow renewable growth, and renewable power intermittency, a credit analyst warns.
First Gen continues development of 1.2 GW natural gas project
It aims to reach 13 GW of total capacity in the next six years.
Global coal power plant capacity sees highest net growth since 2016
China accounted for two-thirds of the 69.5 GW of new coal plants.
Power sector to drive 40% to 50% of natural gas demand by 2050
Electrification needs will propel demand growth.
China to lead CCUS investments by 2050
China, North America, ASEAN and India account for 70% of the investments.
ENR private equity deals in APAC grow amidst energy transition focus
This is despite the overall private equity decline in the region.
Energy demand transformation could lead to $2t in annual savings
This will also reduce energy intensity by 31%.
Majority of energy companies to invest in employee capabilities
Talents should also be prioritised amidst technology investments.
Digital transformation boosts profits for 72% of energy sector businesses
They employ low code/no code or cybersecurity systems.
Stonepeak invests in APAC onshore energy wind platform
It will hold 80% in TerraWind Renewables.
Gentrack gains ground on SAP and other legacy solutions
High demand for Gentrack: Utility-specific software is leading the digital revolution towards Net Zero.
Offshore wind capacity in South Korea and Japan to surpass onshore installations
However, their offshore capacity is expected to only exceed 200 MW in 2025.
Disproportionate investments in energy transition favour developed countries
The 120 developing nations only secured 15% of the total investments in renewables.
Global energy transition still off track as renewable investment lags
The world needs to install 1,100 GW of renewables yearly by 2030.
Nearly 7 in 10 ENR executives believe AI will transform their operations by 2030
They see it beneficial in improving maintenance and production, amongst others.
ENR executives concerned about energy transition projects’ economic viability
The majority of APAC executives, however, are optimistic about the projects’ contribution.
China leads global wind turbine orders to a record high in 2023
Global wind turbine orders rose by 16 GW year-on-year to reach 155 GW.
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