Middle East Crisis Accelerates Asia’s Electrification Drive

Asia’s first knee-jerk reaction to the shock loss of crude supply from the Middle East was to fire up coal power plants, save fuel, and scour the global markets for alternative oil deliveries. While the Iran war and the Strait of Hormuz crisis prompted immediate measures to reduce oil and gas consumption, the quiet electrification revolution across South and Southeast Asia – outside of the headline-grabbing Chinese renewables and EV boom – is now gaining momentum. Asia felt the current crisis first, and it hit hard. Iran Crisis…