Global gas-fired power capacity is set to grow 20% by 2030, reaching 2,300 gigawatts, driven by demand in Asia, especially China and India, Nikkei reported Thursday.
Mitsubishi Heavy Industries (TYO:7011) is investing 50 billion yen to expand gas turbine production, aiming for a 30% capacity increase by 2027, according to the report.
The rise in gas demand is fueled by AI growth and energy security concerns, while interest in green hydrogen has waned due to high costs and slow market expansion, the report said.
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