Yinson Annual Report 2021

56 YINSON HOLDINGS BERHAD SECTION 02 : BUSINESS REVIEW RENEWABLES RENEWABLES HIGHLIGHTS FYE 2021 190MW Solar plant under construction 3 to 5GW Global development pipeline USD735 million Contracted revenues from PPAs 9 countries Active development locations or management offices 1 out of 1 Competitive auctions won/ competed 140MW Operational solar plants MARKET OVERVIEW Globally, investments in the energy transition continued to grow in 2020, with about USD501.3 billion invested – a 9.3% increase compared to 2019. This included investments in renewables, energy storage, electric vehicles charging infrastructure, hydrogen production and carbon capture and storage projects. Renewable energy captured the largest portion of the total investments made, with a 60.5% share (around USD303.5 billion). Of this, the solar and wind energy sectors accounted for the biggest spend, receiving USD148.6 billion and USD142.7 billion respectively. Renewable energy continues to hold significant potential in the energy market. Energy derived from renewable sources is expected to meet nearly 13% of total energy demand by 2025. Solar PV and wind energy are currently forecasted to grow at a compound annual growth rate of around 22 to 25% in the near term. The cost of renewable energy generation continued falling in FYE 2021, and in many economies is now a less expensive source of new electricity than fossil fuels. Governance and regulations are also a strong driver. Policymakers worldwide are facing increasing pressure to make our energy system more sustainable and climate friendly, plus, many governments are looking to green economy investments to revitalise infrastructure development following the downturn caused by Covid-19. STRATEGY FOR GROWTH Yinson aims to participate in the global transition to a greener energy system, as we believe that it will not only create a better world for our future generations, but deliver a strong, sustainable performance for the Group in the years to come. RENEWABLES DAVID BRUNT CEO Renewables

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