, Australia

Australia is amongst fastest market to move away from coal: report

It is poised to be a regional outperformer for renewables. 

Australia is considered amongst the fastest market to diversify away from coal-fired power generation despite its coal dependence, a report found. 

About half of Australia’s power mix is sourced from coal-fired power as of the end of 2022; but Fitch noted it has observed accelerated commitments by power companies to phase out coal-fired power plants. 

“We believe coal-fired power generation's share of the generation mix will drop to slightly under 30% by 2032,” the report read in part. 

“Whilst this still represents the largest share of the power mix, it represents a significant ramp-down in coal-fired power’s presence in the market.”

Read more: New rules for grid connection needed in Australia: Clean Energy Council

Overall, the report noted that Australia is expected to be a regional outperformer for renewables and has the potential to be a global leader. 

Fitch projected that solar photovoltaics (PV) and onshore wind capacity will grow at an annual average pace of 7.3% and 7.4% respectively over the 10-year forecast period, whilst non-hydropower renewables capacity will reach 75.6GW by the end of 2032.


Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


Asia needs natural gas to balance ‘energy trilemma’
Natural gas is cleaner than coal and would support the intermittency of renewables, ANGEA said.
Cambodia’s 18-year energy plan sets ambitious targets for renewables
To attain energy security, Cambodia will have to overcome investment challenges, cut wasteful consumption, and review pricing policies. 
Why ASEAN should take a regional approach to accelerating RE
The Regional Approach Report outlines how collaboration is key to the aim of 35% renewable energy capacity by 2025 in the region.