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New research from global natural resources consultancy Wood Mackenzie indicates Asia-Pacific's offshore wind capacity will rise 20-fold to 43 GW in 2027.
Wood Mackenzie’s latest report shows most markets in Asia Pacific can expect to see cheaper levelised cost of electricity (LCOE) for renewables compared to coal by 2030.
Following PM Scott Morrison's win in the recent 2019 Australia election, Wood Mackenzie and Verisk Maplecroft analysts share their thoughts.
Wood Mackenzie analysts Yu Zhai and Robbin Griffin comment on the recent restriction of seaborne coal imports by China.
Asia Pacific renewables (wind and solar) generation investments could double to US$1.3 trillion over the current decade to 2030 compared to the previous decade (2011 – 2020), says Wood Mackenzie, a Verisk business (Nasdaq:VRSK).
Rumours of a ban on Australian thermal coal to China have surfaced in the thermal coal market this week.
Adani gets environmental approval for Carmichael project
After a decade of stellar growth, Wood Mackenzie forecasts that solar demand in the Asia-Pacific will decline for the first time this year. Compared to 2017, the region's solar demand will dip 18% to 59 GW in 2018 due to declining installations in China, India and Japan.
Wood Mackenzie believes that Chinese authorities could allow customs clearance of stranded Australian thermal coal. In addition, the local governments in Yulin region of Shaanxi province and Inner Mongolia have announced yesterday that they will be increasing coal supply to meet demand.
China’s state planner the National Development and Reform Commission (NDRC) announced today an “indefinite suspension of all activities under China-Australia Strategic Economic Dialogue”. Wood Mackenzie experts weigh in on the event.
South Korea's hot metal production will decline by 4.2 Mt or almost 10% in 2020. There is of course a risk that production decline would be greater, if containment of the virus is unsuccessful.
Australia's general election is around the corner and Labor looks set for victory. Labor has announced its commitment to reduce Australia’s carbon emissions by 45% between 2005 and 2030, and to reach net-zero pollution by 2050. It has also proposed changes to existing mechanisms to lower energy and gas prices.
Home to half of the world’s population and contributing a third to the global GDP, the Asia Pacific region is expected to maintain a 50% share of global primary energy demand and a 60% share of global carbon emissions until 2050. This trend is unlikely to change without strong policy action and investment. However, the region still has the potential to turn these challenges into opportunities and become a global leader in the energy transition.
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