Asia Pacific Energy Review, October 28-November 3
This column focuses on the previous week's main energy events in Asia and the Pacific.
Australia / Renewable energy
Research group Cornwall Insight forecasts that the National Electricity Market (NEM) will add 150 GW of solar PV, wind and energy storage capacity by 2043. Total installed capacity for those clean energy technologies is expected to rise from 52 GW in 2025 to 208 GW by 2043, a 300% increase.
China / ElectricityÂ
The government reported that in the first three quarters of 2024 total national electricity consumption was 7.41 trillion kWh, up 7.9%; but GDP grew 4.8% over the same period. Cloud computing, AI, and EVs have driven the growth rate of electricity consumption to be higher than the GDP growth rate.
China / Renewable energy
Three Gorges Renewables Group plans to build a massive power base that mixes wind, solar, coal and batteries in the Taklamakan Desert, investing as much as 71.8 billion yuan ($10 billion), and which will include 8.5 GW of solar panels, 4 GW of wind turbines, six 660-MW coal power generators and 5 GWh-hours of battery storage.
China / Oil refining
In mid-2025, PetroChina is set to shut the Dalian Petrochemical plant, which has a total capacity of 410,000 bpd. It is the largest domestic oil refinery, and the first major closure at a state-run plant.Â
India / Renewable energy
Adani Enterprises reported a more than seven-fold surge in Q2 profit, on higher demand in its renewable energy division. Adani Group's flagship firm posted a net profit of 17.42 billion rupees ($207 million) for Q2, up from 2.28 billion rupees a year earlier.
Malaysia / Renewable energy
Sarawak state aims to become a renewable-energy leader and wants its skilled workforce to return home. Starting 2026, the state government will offer to make clean energy technology courses, such as hydrogen production and carbon storage, free for locals.
Philippines / Renewable energy
Reuters reported that Singapore's GIC and Australia's Macquarie are looking to sell their stake of roughly 30% in Philippine renewable energy firm Energy Development Corp (EDC), a deal that could fetch $2 billion.Â
South Korea / Offshore wind
The government announced a much-anticipated tender for 2.8 GW of renewable energy, including 1.5 GW of offshore wind capacity. About 1 GW is for bottom-fixed offshore wind, with a further 500 MW allocated to floating wind capacity.
Taiwan / Power demand
The government said power generation will be able to meet demand for semiconductor production and AI. If future nuclear technologies can meet safety prerequisites, then the government is open to discussions. Besides solar and wind energy, the government is also promoting other renewables including geothermal.
Vietnam / Oil refinery
Saudi Aramco wants to invest in Vietnam’s oil refinery sector and petroleum distribution. This was agreed after a meeting between PM Pham Minh Chinh and Saudi Aramco's CEO Amin Al-Nasser in Riyadh during the PM’s visit to the Middle East.