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Asia Pacific Renewable Energy Insights

Insights into the key regulatory and commercial challenges, and opportunities, across eleven jurisdictions.

Despite economic and other headwinds resulting from the COVID-19 pandemic, investment in renewable energy in Asia Pacific has been remarkably resilient in the last 12 months. In fact, the pace of development and investment continues to outstrip other parts of the world supported by rising populations, robust economic growth and the greenfield nature of the renewables market in the region underpinned by some relatively attractive government support initiatives.

Many commentators predict that Asia Pacific will continue to outperform other regions as a market for the investment and development in renewable energy over the coming decade with capacity expected to increase by up to 2 terawatts by 20301 and the levelized cost of energy for renewables falling below fossil fuel alternatives within the same time horizon2. This outlook reflects what would be a fundamental shift in the regional energy mix and is likely to lead to profound and inalterable changes in the way energy is generated, transmitted and consumed in Asia Pacific – it is a genuinely exciting time to be a part of this narrative.

Against this backdrop, we are pleased to launch the 2021 edition of our Asia Pacific Renewable Energy Insights report in conjunction with our alliance and other key relationship firms across the region. As you can read further below, we have the longest-standing and most award-winning green energy practice in Asia Pacific which combines our global sector expertise and experience with our regional ‘on the ground’ coverage of all the key jurisdictions which matter in this sector. We are proud to work with leading developers, contractors, financiers, governments and others in this space across all the key markets in the region as covered in our report.

Our experience over the past 12 months reflects what we are seeing in terms of major themes in the sector, including:

  • The continued rise of offshore wind in North Asia, including as Japan, Korea, Vietnam and other new markets look to build on the success of the Taiwan story. We have acted on all closed project financings for offshore wind in these markets and continue to be busy working on a range of ongoing projects in these markets;
  • New investors entering the Asia Pacific, including strategic developers seeking new opportunities away from their existing markets and an upsurge in interests from financial sponsor clients, including specialist energy and infrastructure funds;
  • The development of innovative financing approaches to support renewables projects, including portfolio structures, holdco financings, green bonds and other solutions which are tailored to the specific requirements of the sector;
  • Continued focus on new and emerging technologies such as green hydrogen (including in Japan as an export target for leaders in this space such as Australia) and utility-scale batteries (linked to renewables projects which being explored in Korea among others) in each case which are likely to accelerate the renewables story and attract further international investment; and
  • A well-documented global focus on environmental, social and governance (ESG) issues which has led to a heightened focus on renewables and a likely acceleration of the energy transition in the post-pandemic world.

We hope you find this guide is informative and helpful and we always welcome new discussions about ways we can help support your ambitions in this area.

1. Boston Consulting Group, "Riding the Renewables Wave in Asia-Pacific", January 11 2021
2. Wood Mackenzie, "Renewables in most of Asia Pacific to be cheaper than coal power by 2030", 26 November 2020

Explore our insights on renewable energy across Asia Pacific

This jurisdictional overview highlights key regulatory, and other challenges and opportunities in the key markets in Asia Pacific for renewables.

Select a jurisdiction on the map to explore in more detail.

ESG continues to dominate the agenda

We expect the pace of change on all matters environmental, social and governance (ESG) to continue accelerating in 2021.On the environmental front, climate change will remain high on the investor and regulatory agenda. 2020 saw a spate of high-profile climate pledges – from governments, banks, asset managers, pension schemes and corporates alike. The emphasis in 2021 will be on turning these announcements into credible action plans. The global climate summit, COP26, which is scheduled for November 2021, is acting as a beacon for more ambitious climate strategies and regulatory action from a number of countries. Our ESG team has a robust understanding of the regulatory and policy drivers of the market and experience across a wide range of sectors and contexts. We take a holistic approach, covering a wide range of areas - from climate change and resource efficiency, human rights and community engagement, antibribery and corruption, transparency and disclosure, product governance, and risk management more generally.

Read more about ESG at Linklaters

Download your copy of
Asia Renewable Energy Insights 2021

For the best viewing experience of the PDF version of the report, we recommend using an up to date version of your web browser such as Google Chrome, Microsoft Edge or Safari.

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Our renewable energy contacts across Asia Pacific

If you would like to find out more about how we can help you with your renewables projects across Asia, please get in touch with a member of the team. 

Environment, Social and Governance at Linklaters

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