ASEAN’S renewable capacity is expected to nearly double by 2025, driven by better regulation and lower equipment costs, with Vietnam currently leading the way, according to a HSBC Global Research report.
Focused on industry trends in Asean, the report looked at the key drivers and risks for growth in energy transition to renewables.
Six key countries in Asean – Vietnam, the Philippines, Thailand, Singapore, Malaysia and Indonesia – added around 24 gigawatts in renewable capacity between 2016 and 2020, according to the report.
