With the recent renewable energy (RE) pushes done by China and India, worldwide RE investors are now seeking more opportunities in Asia. This includes even smaller countries in the region, signifying a burst of interest in the RE industry.
As one of the the largest countries in Asia – and in the world – China currently has the the largest wind resource in the globe. It has been reported that by the year 2030, China can potentially source out all of its energy needs from wind alone. China is also one of the world’s top manufacturers of solar photovoltaic (PV) panels, reinforcing its strength and importance in the RE scene. And in terms of RE investments, China leads the world, even surpassing the United States’ plans.
On the other hand, India has recently won accolades for its solar energy program. Primarily because of the country’s location and topography, India’s investment on solar energy has definitely paid off, making the country as the best place for solar energy.
RE investors hope to both reap profit and spread the use of clean energy in other countries, such as Thailand, Malaysia and the Philippines. The Philippines’ RE capability is well sought after, with private firms in the country leading the way in trying to close as much contracts as possible. Government assistance is also offered, with feed-in tariff (FIT) rates currently being finalized to entice more investors.
