Market reform, Decarbonization, DigitalizationAsia-Pacific’s power sector is weathering three powerful forces: market liberalization, environmental directives, and digital transformation. Managed strategically, each can be turned to the sector’s advantage; a combined approach will increase the gains exponentially. The region’s power plant owners and operators are determined to invest for the future. Modifications and upgrades and – crucially – new digital technologies, will help them to satisfy a population growing ever-hungrier for energy – without compromising its environmental responsibilities.
Power sector views on where to invest in a changing environment in Asia Pacific
Energy consumption has grown more quickly in Asia Pacific than in any other region over the past 35 years, thanks to a rapidly rising population and increasing industrialization. It is a trend that is set to continue: Asia will consume almost 50% of the world’s energy by 2040, up from 41% in 2018. How can the region’s sector and authorities make sure they are building up enough capacity for that energy-intensive future? And how do they achieve that against a backdrop of unprecedented climate change pressures, new technologies, and market changes? Based on interviews with 100 power sector executives across Asia-Pacific, it charts the investments they have made so far and their strategies for the future.