Renewable energy investment in Asia excluding China will overtake spending on upstream oil and gas projects in the region as soon as next year, according to Rystad Energy. Total capital expenditure (capex) in renewables will overtake exploration and production (E&P) spending in 2020, with contributions from Australia and other Asian countries such as Vietnam, Taiwan and South Korea, Rystad Energy’s latest bottom-up analysis of investments shows. “These countries each have strong pipelines for renewable energy developments of all types, including offshore wind,” says Gero Farruggio, Head of Renewables at Rystad Energy. “And, importantly, most have large targets outlining the inclusion of renewable power sources within their respective energy mixes, with corresponding support policies.” As oil and gas professionals descend on Brisbane for the annual APPEA conference, renewable energy continues to rise up the agenda. In his presentation, Farruggio outlines the drivers for this and what we can expect within […]