Sao Mai solar power plant in An Giang province (Photo: VNA) Hanoi (VNA) - Vietnam is among top threenations leading the shift to renewable energy in Asia Pacific, according to thelatest research from IHS Markit.
Reporting on the IHS Markit’s Renewable Additions Index, thesite energyvoice.com said the renewable power development pipeline has soaredacross the region.
According to the index, Australia leads the index with 89percent of capacity under construction being either wind, solar or biomasspower, followed by Japan. The third place in the region is taken by Vietnam,which leads emerging markets, as the country promoted feed-in tariffs toattract investment in solar and wind power.
The index showed that around a third of the power projectsbeing built — or about 80 gigawatts (GW) — are set to generate wind, solar,hydro and other types of renewable power across 16 key regional markets.
“Our ranking shows that income level is not the sole determinantin a country’s willingness to pursue clean energy. Renewable energy is nolonger a rich nation luxury as its cost continues to decline,” said XizhouZhou, vice president global power and renewables at IHS Markit as quoted by thesite./.
VNA
