From pv magazine International
Plans to develop around 150 GW of PV and wind capacity are under threat due to the economic impact of the Covid-19 pandemic, particularly if the pain extends beyond 2020, Wood Mackenzie said in a newly released report.
About three-quarters of global power demand growth over the past five years has originated in the Asia-Pacific region, which leads the world in terms of annual PV and wind capacity additions. However, the regional solar and wind pipeline could now be pushed back by roughly two years due to economic fallout from the pandemic, the consultancy said.
“The extent of the coronavirus impact on Asia Pacific markets is key to the future growth of the renewables sector,” said Alex Whitworth, research director for Wood Mackenzie. “The coming months will be crucial to determine if the region is moving towards a rapid recovery or extended recession future.”
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