Energy
0

$4t Energy Potential in China, India

$4t Energy Potential in China, India$4t Energy Potential in China, India

China and India will be the biggest recipients for new investment in power-generating capacity by 2040, representing a $4 trillion opportunity for the energy sector. China will require $2.8 trillion of spending for 2,547 gigawatts of new capacity, while India needs $1.2 trillion, according to a Bloomberg New Energy Finance outlook forecasting how energy markets will evolve by 2040. China’s wind and solar capacity will increase eightfold through to 2040, retaining the nation’s role as a global powerhouse of clean energy. India will build 10 times more solar capacity than net additions of coal to 2040 as it shifts to lower-cost renewables to meet a more than threefold rise in energy demand. Coal generation will increase by 78% as the country becomes the second-biggest power system in the world. The massive deployment of renewables in the two countries will help the region reduce its output of greenhouse gases.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com