In a report, Fitch Solutions said that with the project pipeline strengthening in the region, pumped hydropower capacity will reach 82GW in 2023 from 70GW in end-2021, and will eventually grow to 134GW in 2031.
It noted that Mainland China will be “chiefly responsible” for the growth to meet the National Energy Administration’s target to reach 62GW by 2025.
For 2030, it aims to reach 120GW which will be achieved through the plan of construction of 200 pumped hydropower projects in 2025 with a total capacity of 270GW.
Other markets in the region with existing pumped hydropower capacity include Australia, Japan, Thailand, and Indonesia, which also have projects that are set for commissioning within the next 10 years.
