Asia’s yawning renewables lead may onl
Live MintBy Gavin Maguire LITTLETON, Colorado, Jan 15 - Asia has widened its renewable energy capacity lead over all other regions, adding a record 450,000 megawatts of new renewable capacity in 2024, according to data compiled by LSEG. That capacity addition dwarfs the roughly 109,000 MW added in Europe and the 93,000 MW added in North America last year, and cements Asia's position as the main global hub for renewable energy generation. Trade spats between China - the world's top producer of renewable power production components - and Europe and the United States may also accelerate Asia's renewables build-out, by forcing China to focus more on local markets for growth. POWER PRICE IMPACT Sustained renewables capacity growth in Asia just as capacity expansions slow in Europe and North America could spark a divergence in power price trends between those regions. CHINA'S SKEW China accounts for roughly two-thirds of Asia's renewables capacity footprint and looks set to remain the world's fastest developer of renewable power generation.