Vietnam is one of the fastest growing economies in Asia, and its continued economic growth has led to a surge in electricity demand in Vietnam. The Vietnamese government released its latest energy strategic development plan, pointing out that by 2030, Vietnam’s total installed power capacity will reach 125-130GW, doubling the current 54GW.
The current utilization rate of India’s coal-fired power units is between 52% and 55%, far below the economically reasonable level at the time of design. Although India still has about 36GW of coal-fired power units under construction, these will be put into operation in the next 10 years, and the new power generation may fall below SGW per year. It is certain that by 2030, coal-fired power generation will still account for about half of India’s power generation.
Wind power will become a price-competitive and sustainable energy source in Africa and the Middle East. According to the Global Wind Energy Council (GWEC), 894MW of new wind power capacity was installed in Africa and the Middle East in 2019. It is expected that the region’s future new installations will grow rapidly. Between 2020 and 2024, the new wind power installed capacity will reach 10.7GW, which is 1.7 times the region’s current total installed capacity. The increase mainly comes from South Africa (3.3GW), Egypt (1.8GW), Morocco (1.2GW) and Saudi Arabia (1.2GW). Currently, South Africa is the largest wind power market in Africa, accounting for nearly 1/3 of the region’s cumulative wind power installed capacity.
In 2019, Latin America’s investment in renewable energy reached US$18.1 billion, a record high, a year-on-year increase of 54%. The growth mainly comes from the increased investment in renewable energy power in the next few years and the corresponding support policies that have attracted investors. Wind power is the most popular renewable energy power generation technology in Latin America. In 2019, it attracted a total investment of US$8.9 billion, a year-on-year increase of 87%. Solar power generation followed closely, absorbing a total investment of US$8.1 billion, a year-on-year increase of 31%. Brazil, Mexico, Chile and Argentina are the four major renewable energy markets in the region, and their investment accounts for 98% of the total renewable energy investment in the region.