China poised to strengthen its leading position in renewable energy in Asia

China is set to increase its dominance in renewable energy markets in developing Asian countries as it moves away from financing coal-fired power projects abroad, according to a report by energy consultancy Wood Mackenzie.

Key Takeaways

• Chinese companies have made significant investments in energy projects across developing Asian countries, with a focus on coal and gas projects, but a recent trend shows the shelving and cancellation of many planned coal projects in Southeast Asia.
• China’s decision to stop funding new coal projects overseas and move away from exporting coal technology has led to a shift towards renewable power markets, with Chinese companies becoming increasingly influential in providing green-power technology and equipment to developing countries.
• Developing countries in the Belt and Road Initiative heavily rely on affordable Chinese equipment and technology for…