The Asian Pacific Region (APAC) is an area of the world that offers a huge opportunity for renewable energy. With a population of 4.3 billion people, which is 60% of the world’s population, the demand for energy is immense. In 2020 alone, the APAC region consumed a total of 72,140 TWh of energy, with coal being the main source of energy accounting for 34,640 TWh. However, there is a growing trend towards low carbon and renewable energy sources, which accounted for 12,020 TWh in 2020.
Although there has been little investment in renewables in the past, offshore wind presents a great opportunity for developers in the region. According to market research by GWEC, there could be an increase of 136.3GW of installed offshore wind in the APAC region between 2022 and 2031, a growth of 400% from the current 27.7GW of installed offshore wind.
Barrington Energy has been involved in Japan’s first commercial-scale offshore wind farm since late 2017 to present day. We have gained valuable knowledge of Japanese regulations and operations in the process. This has given the company a key edge in the emerging market of offshore wind in the APAC region.
The potential for renewable energy in the APAC region is immense, and partnering with local experts such as Barrington Energy can provide valuable insight and opportunities for companies looking to invest in the future of energy in the region. Please get in touch today to find out how we support you from Development, Construction and Operations.
Sources:
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