Offshore wind rebound and solar expansion propel APAC’s renewable growth

Grid investment rose as hybrid projects and financing structures expand.

Asia-Pacific (APAC) renewable energy growth is accelerating, driven by a rebound in offshore wind, new solar projects and a surge in hybrid developments such as battery storage and wind-solar projects, according to a Fitch Ratings report.

China leads offshore wind additions in the region, whilst Taiwan is seeing more projects reach commercial operations and increased refinancing activity.

Renewable policy development is advancing in South Korea, Japan and India, although projects in these markets continue to face permitting, grid and cost hurdles.

Project sponsors in the region are expected to optimise capital structures through increased use of project bonds and securitisations for operational renewable assets.

Investment in transmission infrastructure is also rising across Asia-Pacific as countries expand power grids to integrate renewable energy, meet rising electricity demand and modernise networks.