Highlights
CHINA: China targets around 3.5 TW of renewable power capacity by 2030, including more than 2.8 TW of wind and solar, with around 100 GW of offshore wind projects planned to begin construction during 2026-2030.
INDONESIA: Indonesia launched a 100 GWp solar program targeting full deployment within three years, with estimated investment of more than IDR 1,140T ($64.2B) and an initial 5.3 GWp across six provinces.
S. KOREA: The 390 MW Shinan Ui offshore wind project, valued at KRW 3.4T ($2.52B), broke ground as the country’s first large-scale offshore wind development financed entirely with domestic capital.
INDIA: India approved an INR 50.7B ($537M) program to develop 5 GW of floating solar paired with at least 10 GWh of energy storage.
AUSTRALIA: Q2 set records for rooftop solar installations, at 1 GW, and large-scale solar investment decisions, covering 1.8 GW of capacity.
China
China targets 3.5 TW of renewable power capacity by 2030
China is targeting around 3.5 TW of total renewable power capacity by 2030 under its renewable energy development plan for 2026-2030, Xinhua reported July 23. Combined wind and solar capacity is set to exceed 2.8 TW and generate more than 4 trillion kWh a year, while total renewable generation is projected at around 6 trillion kWh. The plan also aims for around 100 GW of offshore wind projects to begin construction during the five-year period.
China tightens energy standards for solar manufacturing
China has finalized stricter mandatory energy-consumption standards for polysilicon, monocrystalline silicon, solar modules and inverters, with the rules taking effect on January 1, 2027, OPIS reported July 24. Existing production facilities must meet at least Grade 3 requirements, while new, expanded or upgraded plants will face the tougher Grade 2 thresholds. Industry participants said the revisions are intended to phase out inefficient capacity and encourage technology upgrades while limiting disruption to the sector’s recovery. One polysilicon producer estimated that the tighter Grade 3 limit for Siemens-process polysilicon could affect at least 10 percent of existing capacity without further upgrades. The near-term market impact may be limited, however, as much of the older capacity is already idle and leading producers operate below the new thresholds. Industry participants said the standards may not have a meaningful impact on capacity rationalization until at least 2028.
China solar additions fall 66 percent in first half
China added 72.07 GW AC of solar capacity in the first half of 2026, down 66 percent year on year, TaiyangNews reported July 24. The sharp decline followed a rush to install projects in May 2025 ahead of the June 1 expiry of the feed-in-tariff regime. Manufacturing output also dropped across the supply chain, with polysilicon production down 9.8 percent, wafers 7.3 percent, cells 21.9 percent and modules 35.1 percent in the first six months.
Envision opens renewable-powered AI campus in Inner Mongolia
China's green technology company Envision Energy has brought its Galaxy Campus, a renewable-powered artificial intelligence campus in Ulanqab, Inner Mongolia, into operation, with capacity planned to exceed 2 GW, the company said August 6. Renewable energy supplies the campus directly, supported by dedicated transmission infrastructure and large-scale energy storage. The campus includes a 120,000-square-meter computing facility. At full build-out, it is designed to deliver one million PFLOPS, a measure of computing performance, and support up to one million AI accelerators. The project is the first flagship development under Envision’s Mission Gobi initiative, which aims to build 5 GW of green AI computing capacity in desert and arid regions worldwide by 2030.
South Korea
South Korea’s three largest battery makers return to profit together
South Korea’s LG Energy Solution, Samsung SDI and SK On reported operating profits in the second quarter of 2026, marking the first time in seven quarters that all three battery makers were profitable in the same quarter, ChosunBiz reported August 3. The outlook for the second half remains positive as electric vehicle markets gradually recover in Europe and Asia, while investment in artificial intelligence drives demand for data center batteries and energy storage systems.
South Korea breaks ground on 390 MW Shinan Ui offshore wind project
South Korea broke ground on the 390 MW Shinan Ui offshore wind project in South Jeolla province, with commercial operation targeted for 2029, the Ministry of Climate, Energy and Environment said July 16. The KRW3.4 trillion ($2.52 billion) project is the country’s first large-scale offshore wind development financed entirely with domestic capital and its first to use 15 MW-class turbines, the ministry said in another statement. Around KRW1.3 trillion ($962 million), or about 40 percent of the project cost, will come from the National Growth Fund and Future Energy Fund. Major equipment other than the turbines will be supplied by Korean companies.
South Korea begins work on its largest solar project
South Korea began work on a 400 MW solar complex in Haenam, South Jeolla province, the country’s largest solar project on a single site, with completion scheduled for 2028, Aju Press reported August 7. All major equipment for the project will be sourced from domestic manufacturers. The electricity generated will be supplied directly to seminconductor company SK Hynix under a power purchase agreement to support the company’s RE100 goals.
India
India approves 5 GW floating solar program with 10 GWh storage
India's cabinet approved a INR 50.7 billion ($537 million) program to develop 5 GW of floating solar projects with co-located energy storage systems, the Press Information Bureau said July 31. The storage component will have a minimum capacity of two hours, equivalent to 10 GWh across the program. Projects will be sanctioned from fiscal 2026-27 through 2030-31, with financial support continuing through fiscal 2032-33. The government said the program would add 5 GW to India's existing floating solar capacity of around 700 MW.
India extends solar cell exemption for net-metering and open-access projects
India extended a limited exemption from its Approved List of Models and Manufacturers (ALMM) List-II requirements for solar cells to December 31, 2026, for net-metering and open-access renewable power projects, the Press Information Bureau said July 18. The exemption had previously been available only to projects commissioned by May 31. The government ruled out extending the ALMM List-II exemption to solar power projects generally. It said the additional window would help standalone solar PV module manufacturers protect investments already made in inventories and give them more time to increase sourcing from solar cell manufacturers included in ALMM List-II.
Indonesia
Indonesia launches 100 GWp solar program with three-year target
Indonesia launched a 100 GWp solar power program, with President Prabowo Subianto setting a three-year target to reach the planned capacity, InfoPublik reported August 25. The initial phase covers 14 projects across six provinces with combined capacity of 5.3 GWp. Energy and Mineral Resources Minister Bahlil Lahadalia estimated the program would require more than IDR1,140 trillion ($64.2 billion) of investment and could reduce annual energy subsidies by IDR73.9 trillion ($4.19 billion). The program is intended in part to reduce reliance on diesel-fired generation.
CATL-linked 6.9 GWh battery plant begins operations in Karawang
Construction of a 6.9 GWh electric vehicle battery-cell plant in Karawang, West Java, has been completed and the facility has begun operating gradually, ANTARA reported August 21, citing Indonesia's Ministry of Energy and Mineral Resources. The plant is operated by PT Contemporary Amperex Technology Indonesia Battery, a joint venture between Indonesia Battery Corporation and the CATL-Brunp-Lygend consortium. The facility's production capacity is planned to increase from 6.9 GWh to 15 GWh, according to the Ministry of Energy and Mineral Resources.
Indonesia reviews incentives for nickel-based electric vehicles
Indonesia is reviewing incentives for electric vehicles as part of efforts to boost sales and support its domestic EV industry, with nickel-manganese-cobalt batteries expected to receive differentiated treatment, ANTARA reported August 4. Energy and Mineral Resources Minister Bahlil Lahadalia said incentives for NMC-powered vehicles form part of the government's strategy to expand the market for nickel-based EVs. Bahlil said vehicles using lithium iron phosphate batteries are not a government priority because Indonesia lacks the raw materials needed to manufacture them. The government had yet to announce the final incentive structure or implementation timeline.
Malaysia-Singapore
Malaysia sets 2.65 GW solar quota for sixth large-scale solar round
Malaysia announced 2.65 GW of solar capacity under the sixth round of its Large Scale Solar program, including 2.5 GW paired with 1.25 GW of battery energy storage, Bernama reported July 16, citing the Ministry of Energy Transition and Water Transformation. A separate 150 MW solar allocation for Bumiputera companies, referring to businesses owned by ethnic Malays and other Indigenous groups in Malaysia, will not require battery storage. The program is expected to attract RM13 billion-RM15 billion ($3.21 billion-$3.71 billion) in private investment and create 15,000-20,000 jobs during development and construction. Projects will enter commercial operation in phases, with all capacity targeted to be online by December 31, 2029.
Singapore grants conditional approvals for 900 MW of solar-plus-storage imports from Malaysia
Singapore's Energy Market Authority granted conditional approvals to Sembcorp Utilities and Southern Solar Alliance for electricity import projects totaling 900 MW from Peninsular Malaysia, the Energy Market Authority said August 7. Sembcorp's proposed capacity is 300 MW, while Southern Solar Alliance, a wholly-owned subsidiary of Malaysian developer Ditrolic Energy Holdings, has a proposed capacity of 600 MW. The projects will supply electricity generated from solar and battery energy storage facilities in Johor. The developers are working towards commercial operations around 2029, subject to obtaining the required regulatory approvals, concluding power purchase agreements, securing financing and completing project development milestones. The latest approvals bring Singapore's pipeline of conditionally cleared or licensed electricity import projects to 13, spanning Australia, Cambodia, Indonesia, Malaysia and Vietnam.
Temasek deploys S$5 billion into sustainability investments
Singapore state investor Temasek deployed S$5 billion ($3.93 billion) into sustainability-focused investments during the financial year ended March 31, 2026, compared with S$4 billion ($3.14 billion) a year earlier, The Business Times reported July 8. Part of the capital was directed to companies with distributed clean-energy portfolios. Of the S$49 billion ($38.5 billion) sustainability-aligned portfolio, S$42 billion ($33.0 billion) was invested in businesses that Temasek considers capable of addressing climate change, supporting nature-positive outcomes and contributing to inclusive growth. The remaining S$7 billion ($5.50 billion) was in climate-transition investments.
Thailand
Thailand approves expansion of direct renewable PPAs beyond data centres
Thailand's National Energy Policy Council approved an expansion of direct power purchase agreements beyond data centres to other industries seeking clean electricity, The Nation reported July 24. The July 15 decision opened the mechanism to any industry seeking clean electricity through third-party access to the power grid, without a cap on the volume of electricity traded.
The Energy Policy Administration Committee approved the implementation principles on August 3, after which the Energy Regulatory Commission moved the revised framework into public consultation. The revised policy also removed the earlier 2,000 MW ceiling, The Nation reported August 14.
World Bank approves $200 million for Thailand low-carbon cities project
The World Bank Group approved a $200 million Low Carbon Cities and Carbon Market Development Project for Thailand, the World Bank said July 13. The project will support rooftop solar installations and energy-efficiency upgrades in public buildings and industrial estates, including schools, healthcare facilities, district offices and street lighting. It is expected to add up to 180 MW of renewable-energy capacity and generate around 448 GWh of electricity savings annually.
Philippines
Philippines plans 2027 renewable auction for off-grid islands
The Philippine Department of Energy plans a dedicated 2027 Green Energy Auction for renewable energy projects on off-grid islands served by the National Power Corporation, with solar photovoltaic facilities paired with battery energy storage systems expected to play a major role, Power Philippines reported August 4. The initial round targets 20 of the larger islands served by the utility. The auction is intended to reduce dependence on costly diesel generation and improve the reliability of electricity supply in island communities. Lower generation costs could also reduce the Universal Charge for Missionary Electrification, which is collected from electricity consumers nationwide to cover the gap between regulated off-grid tariffs and the higher cost of power generation in those areas.
Philippines tentatively targets December 1 for recalibrated offshore wind auction
The Philippine Department of Energy tentatively targeted December 1, 2026, for the fifth round of its Green Energy Auction Program for offshore wind after suspending the process on July 4, the Department of Energy said July 29. The review covers port and grid readiness, permitting, environmental and port-related costs and potential supply-chain disruptions. Post-auction bid validation, award notices and other evaluation procedures are scheduled to run from December 2, 2026, through June 30, 2027.
Philippines establishes $957 million incentive programme for electric and hybrid vehicle manufacturing
The Philippines established an Electric Vehicle Incentive Strategy with up to PHP60 billion ($957 million) in fiscal support for domestic manufacturing of battery-electric and hybrid vehicles and their parts and components, the Presidential Communications Office said July 30. President Ferdinand Marcos Jr. signed the executive order establishing the programme on July 29. Qualified manufacturers may register up to two vehicle models and receive Fixed Investment Support and Production Volume Incentives. Fiscal support is capped at PHP15 billion ($239 million) for each enrolled model. Applicants seeking Fixed Investment Support must commit at least PHP5 billion ($79.7 million) in new investment and introduce locally manufactured vehicles within three years of registration.
Philippines inaugurates first phase of 3.5 GWp solar-plus-storage project
Meralco PowerGen inaugurated the first phase of the MTerra Solar project on July 14, with 1,373 MWac of solar PV capacity and an 825 MW battery energy storage system equivalent to 3,300 MWh already energised, Meralco PowerGen said on September 3. The full project is planned to deliver 3.5 GWp of solar PV capacity paired with 4.5 GWh of battery storage. Phase 1 began commercial operations on August 26, initially supplying 600 MWac of mid-merit capacity under a power supply agreement with Meralco.
Vietnam
Vietnam sets new financial requirements for offshore wind development
Vietnam issued Decree 272/2026/ND-CP in July setting out financial requirements for offshore wind surveys and project investment, Vietnam Government News reported July 7. Entities seeking marine-area allocation for offshore wind surveys must have equity of at least VND1 billion ($38,400) for each MW of proposed capacity. For offshore wind projects supplying electricity to the national power system, developers seeking investment policy approval together with investor approval must contribute equity equivalent to at least 20 percent of total investment and secure lending commitments for the remaining capital.
Vietnam raises rooftop solar sales cap to 50 percent
Vietnam increased the amount of surplus electricity that self-produced and self-consumed rooftop solar systems can sell from 20 percent to 50 percent of output measured at the inverter under solar irradiance, Vietnam News reported July 16. Through December 31, 2030, sellers and buyers may agree on a higher surplus sales ratio where the grid at the connection point has sufficient capacity and system safety requirements are met.
Australia
Australia commits $70 million to mid-scale renewable energy projects
Australia’s Clean Energy Finance Corporation committed A$100 million ($70 million) to a new financing program with infrastructure debt manager Infradebt to support up to 16 hybrid solar, battery storage and battery retrofit projects, the Australian government reported August 3. The Distribution Connected Accelerator Program will provide concessional senior debt, mainly targeting distribution-connected projects of up to 5 MW while allowing larger projects where appropriate. The project pipeline is expected to be ready to begin construction in 2027.
Australia sets records for rooftop solar installations and large-scale solar investment
Australia installed 1 GW of rooftop solar in the second quarter, surpassing the previous quarterly record of 942 MW set in Q4 2023, the Clean Energy Regulator reported August 28. Large-scale solar investment also reached a quarterly record, with developers committing to proceed with projects totaling 1.8 GW during the period. The regulator said it had also received more than 500,000 battery applications since the Cheaper Home Batteries Program began.
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