Asia-Pacific wind and solar generation is on track to see $1.3 trillion of investments in the current decade, double that seen in the 10 years to 2020 and more than half of the total spend on new power plants in the region, said Wood Mackenzie.

The steep growth contrasts with a 25% decline in fossil power spending over the same period, an event organised by the research group was told – although coal will still see significant investments into the 2030s.