What are the current energy trends in Asia?
The most significant factor driving the current energy landscape is a substantial uptick in energy demand. Historically, as countries developed, they became more energy efficient, leading to reduced consumption. What we are observing globally, and in particular in Asia, is the rapid increase in energy demand.
We are looking at a 90% increase in energy capacity and a 33% increase in generation just over the next 10 years. This is driven by economic growth, the electrification of various sectors like transportation and industry and the biggest factor at the moment, AI data centres.
What about India? How do you view the opportunity here?
India is an important country. Its actions and policies have a substantial impact on both the regional and global energy landscape. Within India, GE Vernova has a strong presence in terms of generation technologies and the traditional front as well.
To further enhance our energy mix, India must diversify beyond solar power. This includes exploring options like wind, gas, green hydrogen, conventional hydropower and advanced energy storage solutions like pumped-storage hydro (PSH).
This story is from the October 2024 edition of Outlook Business.
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This story is from the October 2024 edition of Outlook Business.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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