An easing of Covid-19-related restrictions and shifting supply chains have bolstered growth in Asia, even as inflation and climate change generate significant headwinds.
, hoping to prevent deforestation that could further aggravate the adverse effects of climate change.
Against the backdrop of the COP27 UN Conference on Climate Change in Sharm El Sheikh, Egypt, Indonesia held talks with Brazil and the Democratic Republic of the Congo to form a strategic conservation alliance, nicknamed “OPEC for rainforests”.The International Energy Agency projects that renewable energy capacity in the Asia-Pacific region, excluding China, will expand by 360 GW, or 70%, in the 2022-27 period, with solar accounting for more than two-thirds of new deployment.
Although Indonesia has just 210 MW in installed solar capacity, one of the smallest solar footprints in the world, planning has begun for projects amounting to up to 17,000 MW in capacity. All but 3300 MW is slated for export, signalling significant potential for future renewable projects for the domestic market.
In August India pledged $2.4bn develop the West Seti and Seti River Hydropower Projects in Nepal, which amount to a combined capacity of 1.2 GW that could be exported. Another major hydropower project completed this year, the 720-MW Karot project in Pakistan, was financed by China,
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