The new net zero emissions target was at least a decade earlier than the 2070 target, President Joko Widodo said in March.

Historically just one of the major providers of finance to overseas coal power projects, China has more recently looked increasingly isolated as other nations and financial institutions continue to withdraw from coal.

The Solar Energy Corporation of India (SECI) plans to tender a 2,000 MWh standalone energy storage system (ESS).

Filipino households pay on average $0.189 (PHP9.5) per kilowatt-hour—the highest rate in Southeast Asia by far.

"Samsung C&T is delighted to invest in and explore global carbon-free power opportunities together with NuScale Power and Fluor Corporation, leading companies in the SMR nuclear business," Se Chul Oh, Samsung C&T’s Engineering & Construction Group president and CEO, said.

China aims for renewables to account for at least 50% of its installed capacity by 2050, and energy storage would allow the country to ensure stable operation of the electric grid system.

"In our oils-to-chemicals business, we generated strong earnings through our integrated portfolio and superior product placement capabilities," said Mukesh Ambani, chairman and managing director of Reliance Industries.

The Indonesian state-owned oil and gas company PT Pertamina plans to invest US$12bn to add 10 GW of "clean" power capacity by 2026, including 6 GW of gas-fired power plants, 3 GW of renewables such as geothermal and 1 GW from other projects like “blue” and “green” hydrogen.

The Hang Seng index (.HSI) led losses with a 1.9% drop, its eighth consecutive session in the red, with more falls in internet giants Tencent (0700.HK), Meituan (3690.HK) and Alibaba (9988.HK) as the sector reels from sweeping Chinese regulatory scrutinty.

At the close, the Shanghai Composite index was up 0.66% at 3,553.72 and the blue-chip CSI300 index was up 1.13%.

In addition, the Indian power utility NTPC has committed to halve its coal-fired power capacity and to set up 60 GW of renewable projects by 2032. NTPC’s current installed capacity stands at 66 GW, of which 54 GW is coal-fired.

The agreement between IRENA and Chinese Ministry of Ecology and Environment will enhance cooperation on the energy transition between the two to ensure China moves closer to its 2030 carbon emissions reductions and 2060 carbo-neutrality targets.

"China's domestic coal supply capacity continues to run low while power generation activities resume," energy and mineral resources ministry spokesman Agung Pribad said in a statement, adding demand also increased from Japan and South Korea.

Japan's Nikkei (.N225) was 0.3% lower while MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell 0.2% in thin trade as Hong Kong markets were shut for a holiday.

Rosatom Director General Alexey Likhachov said the Kudankulam construction project has for many years been a symbol of close cooperation between Russia and India.