The Austrian government has been actively encouraging the use of renewable sources for energy generation to help reduce the country’s dependence on fossil fuels, notes GlobalData, a leading data and analytics company. Austria’s recently submitted National Energy and Climate Plan (NECP) 2021-2030 focuses on the decarbonization and energy efficiency dimensions and related policies.

As a result of Brexit and its reliance on imports from the common EU market, the UK is now facing questions regarding higher energy prices and an unreliable supply of electricity. To combat this, the government needs to make substantial investments to meet more of its electricity demands by using renewable sources, observes GlobalData, a leading data and analytics company.

Vestas Wind Systems A/S has emerged as the leading manufacturer for wind turbines with an impressive 16.6 gigawatts (GW) of installations, or 19% share, of global installations in 2021, found GlobalData, a leading data and analytics company.

Thermal power was the most dominant segment of Morocco's power capacity in 2021 as it accounted for 60.5% of total capacity says GlobalData.

The global market for high-voltage (HV) switchgears is estimated to grow to $28.8 billion in 2026 at a compound annual growth rate (CAGR) of 3.31% during 2022–26 according to GlobalData.

Renewable power held a 19% share of the US’s total power capacity in 2020, according to GlobalData, and this share is expected to increase significantly to 48.4% by 2030. The leading data and analytics company notes that favorable policies introduced by the US government will continue to drive the country’s renewable sector, particularly solar PV and wind power.

Following the news that India has pledged to reach net-zero carbon emissions by 2070; George Monaghan, Thematic Analyst at GlobalData, a leading data and analytics company, offers his view:

As the COP26 meeting in Glasgow gets underway, many countries are behind on their targets for increasing the share of renewables in power generation no matter their income levels, partly as a consequence from delaying mobilising at least $100bn in climate finance.

Renewable power generation* in Denmark is expected to increase from 24.33 Terawatt-hours (TWh) in 2020 to 43.2 TWh by 2030, growing at a compound annual growth rate (CAGR) of 5.9%, according to GlobalData. The leading data and analytics company notes that the share of renewables in the generation mix is already quite high, at 86.4% as of 2020, and it is set to grow to 99.9% in 2030.

Renewable energy project contract awards in 2021 have eclipsed deals for conventional power plant projects in the Middle East as the region’s energy diversification agenda gathers pace, according to GlobalData’s MEED.

Renewable power capacity* in Turkey is expected to increase from 19.07GW in 2020 to 49.31GW by 2030, growing at a remarkable compound annual growth rate (CAGR) of 10%, according to GlobalData, a leading data and analytics company.

The failure of Lebanon’s electricity supply highlights the inadequacy of public services in many parts of the Middle East and North Africa, says GlobalData’s MEED.

The German onshore wind industry witnessed a massive year-on-year growth of 46% in terms of installation with the addition of 1,431 MW or 420 turbines in 2020.

Following President Biden’s moves to implement new climate policies upon taking office yesterday, Will Scargill, Managing Oil and Gas Analyst at GlobalData, a leading data and analytics company, offers his view on the targets set out for decarbonizing the power sector:

The COVID-19 pandemic drew the curtains over coal-based generation. Especially countries such as Germany, Spain and the UK, which saw the most decline in electricity demand and marshaled other countries in the expanding of power generation from renewable sources.

COVID-19 pandemic delays auctions in Brazil, says GlobalData

The Ministry of Mines and Energy (MEM) in Brazil, has indefinitely postponed the national energy generation and transmission auctions that were scheduled for May, 2020.

According to the UK Government, nearly 15GW of wind projects, primarily offshore, have been classified as ‘awaiting construction’. These are projects waiting to secure viable financing before construction begins.

The spread of coronavirus (COVID-19) across the globe is having devastating effects on consumers’ lives, global politics and the global economy – one topic of discussion that seems to have been put on the back burner for now, is the environmental impact.

A recent World Economic Forum report found that, in the right conditions, battery technologies could reduce emissions in the transport and power sectors by 30% - enough to hit the 2°C Paris Agreement target.

The global offshore wind market is set to grow at a compound annual growth rate of 16.2% between 2019 and 2030, reaching a cumulative capacity of 142 gigawatts (GW) by 2030, compared to 23.2GW at the end of 2018, according to GlobalData, a leading data and analytics company.

Nuclear power, currently the dominant energy source in France, is expected to be overtaken by renewable energy by 2027. The share of renewable energy in France is expected to reach 42.9% of the country’s power mix by 2023, up from 19.9% in 2018, according to GlobalData, a leading data and analytics company.

Orsted’s commissioning of Formosa I marks a milestone for Taiwan’s entry into offshore league

Danish power company Orsted has officially inaugurated Taiwan’s first commercial offshore windfarm, Formosa 1.

We are at the very beginning of the era of electric vehicles (EVs). Today, there are five million EVs on the world’s roads, which is up two million from 2018. China is in the leading position, in terms of the largest EV market, followed by Europe and the US. However, large-scale commercial production of EVs by the big car makers is unlikely to take off until 2025, according to GlobalData, a leading data and analytics company.

Wind technology tenders activity in Q2 2019 saw 37 tenders announced, marking a drop of 39% over the last four-quarter average of 61, according to GlobalData’s power industry tenders database.

Wind technology contracts activity in Q2 2019 saw 236 contracts announced, marking a flat growth over the last four-quarter average of 237, according to GlobalData’s power industry contracts database.

Gas and renewable power are set to dominate Belgium’s power generation mix, following the phase-out of 7.2 gigawatts (GW) of cumulative coal and nuclear capacity by 2025.

The overall renewable power capacity, excluding hydropower, in Sweden is projected to more than double from 14.8 gigawatt (GW) in 2019 to 30.4 GW in 2030, according to GlobalData, a leading data and analytics company.

The global power mergers and acquisitions (M&A) market remained strong in 2018 with transaction volumes reaching US$158bn, the second highest in the last five years.

The global smart meters market is estimated to be worth US$7.06bn in 2023, increasing from US$5.8bn in 2018, according to GlobalData, a leading data and analytics company.