Off-grid solar specialist Sun King has raised US$260 million in a Series D funding round aimed to expand global access to affordable solar energy across Africa and Asia.
French energy major TotalEnergies and Japanese oil company Eneos have formed a joint venture (JV) to develop 2GW of decentralised solar capacity across Asia over the next five years.
Major capacity additions in Asia’s non-hydropower renewables sector will facilitate the region's ability to supply electricity amid rising power consumption needs, which look set to outpace all other regions as economies continue to expand after the easing of COVID-19 restrictions, according to a Fitch Solutions’ report.
acity must reach 5.2TW by the end of the decade in order to meet the 1.5°C Paris climate goal, according the International Renewable Energy Agency (IRENA) latest World Energy Transition Outlook.
Renewable integration, sufficient energy storage and market uncertainty are three of the top five challenges facing Asia’s power sector today, according to Black & Veatch’s Asia Electric report that also overwhelmingly named hydrogen as a key decarbonisation method beyond the next decade
Construction risks may have escalated post-COVID and challenges around power purchase agreements (PPAs) remain, however banks in Asia remain committed to lending to solar projects.
Asia boasts a growing number of markets with solar development pipelines in excess of 1GW, a new report by Fitch has found, with the region dominating the consultancy’s project database analysis this year.
