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Greece’s Regulatory Authority for Energy (RAE) has announced that the country will conduct its third joint auction for wind and solar photovoltaics (PV) projects in May 2021. The renewable energy auction scheme will continue to significantly change the generation mix of the country. As per GlobalData, in 2018, the year the auction mechanism was introduced, […]
Vietnam activates renewable development spree, solar and wind to outshine others as cost declines, says GlobalData
The Vietnamese renewables industry has been gaining traction lately as the country considers renewable energy to play a pivotal role in achieving the optimistic Power Development Plan (PDP). The PDP is envisaged to improve electricity infrastructure and expand renewables in the power mix to accelerate decarbonization. Against this backdrop, solar PV and wind are expected […]
Ecuador could achieve optimistic >400MW solar PV capacity by 2030, says GlobalData
Ecuador is taking nascent steps in deploying renewable energy (RE) sources such as solar PV, with the 14.8MW Conolophus Solar PV venture and the 200MW El Aromo photovoltaic project – the latter of which will be the largest in the country – set to come online in the near future. With an expected growth of […]
Renewable energy key to achieve ASEAN countries’ aspirational sustainability roadmap by 2025, says GlobalData
ASEAN countries have laid an aspirational five-year sustainability plan to improve the renewable energy (RE) capacity in the power mix to 35% to achieve the target of 23% of RE in the total primary energy supply by 2025. The renewables (including hydro) under this vision can witness a new capacity build of approximately 35-40GW by […]
Morgan Stanley and Ernst & Young were top M&A financial advisers by value and volume in power sector for Q1-Q3 2020, finds GlobalData
Morgan Stanley and Ernst & Young were top M&A financial advisers by value and volume in power sector for Q1-Q3 2020, finds GlobalData Morgan Stanley and Ernst & Young have emerged as the top mergers and acquisitions (M&A) financial advisers in the power sector for Q1-Q3 2020 by value and volume, respectively. A total of […]
Slaughter and May and Watson Farley & Williams were top M&A legal advisers by value and volume in power sector for Q1-Q3 2020, says GlobalData
Slaughter and May and Watson Farley & Williams were the top mergers and acquisitions (M&A) legal advisers in the power sector for Q1-Q3 2020 by value and volume, respectively. A total of 1,340 M&A deals were announced in power sector during the period, according to GlobalData, a leading data and analytics company. According to GlobalData’s M&A report, ‘Global and Power M&A Report Legal Adviser League Tables Q1-Q3 2020’, there was a 27.2% decrease over 1,340 deals that were announced during Q1–Q3 2019. Deal value also decreased by 19.5% from $188bn in Q1–Q3 2019 to $151bn in Q1–Q3 2020. In GlobalData’s ranking, Slaughter and May secured top position in terms of value by advising on four deals worth $9bn, which was the highest value among all advisers. Meanwhile, Watson Farley & Williams led in volume terms having advised […]
Cambodia to reduce reliance on hydropower by developing more coal and solar capacities during 2020-30, says GlobalData
Cambodia, which relies heavily on hydropower, has witnessed power shortages due to reduced hydropower generation owing to draughts and lower water levels in the dams. The country’s recent 10-year plan has low impetus on developing mainstream dams and seek alternative sources to meet the electricity demand from coal, LNG, solar PV and imports from neighbouring […]
Thailand’s low carbon goal to hinge on gas-based generation and renewables expansion, says GlobalData
Thailand’s power sector is heavily dependent on fossil fuels with 81% share in the generation mix meeting the country’s growing power demand. With countries across the globe setting timelines for completely shoving coal out of the generation mix, Thailand’s latest Power Development Plan (PDP) has set the expansion plan of gas-based power generation and renewables […]
Japan likely to become largest APAC offshore market after China by 2030, says GlobalData
Japan plans to expand its offshore wind portfolio to re-arrange its power generation mix amid the ailing nuclear power generation, aging coal-fired power plants and limited land availability. With the advancement of offshore wind technology, constant reduction in capital costs and a favorable policy framework can aid the exploitation of the vast available offshore resources […]
Cybersecurity a crucial priority in power utilities’ agenda as threats continue to grow amid COVID-19 pandemic
Power utilities have become more prone to cyberattacks amid the COVID-19 pandemic as attackers have strived to benefit from the rush to remote systems and undermanned facilities. Utilities need to comprehend the new cyber risks involved with home-based work such as social engineering attacks and less reliable internet connections in order to accordingly set up […]
Germany goes aggressive on renewables with the latest amendment of the EEG asking for highly optimistic annual RE additions, says Globaldata
The more rigid targets brought around by the latest revision to Germany’s renewable energy act (EEG) in June aims for the country to achieve 65%, instead of the originally targeted 50%, of its electricity consumption comes from renewable sources by 2030. Such stricter targets would mean that, during 2021-2030, the country’s solar photovoltaic (PV) and […]
China, US and Europe key drivers in renewable energy development, reveals GlobalData
GlobalData expects wind and solar PV technologies to continue to grow during 2021–2030, with reduced costs encouraging more projects to be set up in the coming years. The adoption of renewables by countries that had not used these resources before will further drive uptake of wind and solar energy sources globally. Wind is expected to […]
China emerges as leader in solar PV installations as COVID-19 makes dent in renewables market, reveals GlobalData
COVID-19 lockdowns have significantly disrupted the demand side of the renewable energy supply chain. Although China and European countries have slowly resumed operations and eased lockdown restrictions, the impact of the global economic slowdown will dent the renewables market, says GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Thematic Research: Renewable Energy’, highlights […]
COVID-19 pandemic is opportune time to bolster renewable energy growth, reveals GlobalData
The global power sector has witnessed a shift in capacity additions from conventional power sources to renewables. With a focus on decarbonizing electricity supply, the focus that governments and utilities have made on increasing the share of renewables in the overall energy mix has led to the establishment of support measures that offer a level […]
South Korea’s Green New Deal to create sustainable ecosystem with offshore wind and solar PV playing pivotal roles, says GlobalData
South Korea, one of the top CO2 emitting countries in the world, proposed a ‘Green New Deal’ to help accelerate the country’s transition towards the creation of a sustainable ecosystem by attaining net-zero emissions by 2050 and mitigate the risk of climate crisis. The deal affirms South Korea’s desire to make big advancements in the […]
More united approach needed for nations to completely eliminate coal-fired power plants
Active coal-fired power plants are enough to prevent the world from achieving the global warming target set in the Paris Climate Agreement. Currently, more than 60% of the major active coal power capacity is in the Asia-Pacific region, according to GlobalData, a leading data and analytics company. Somik Das, Senior Power Analyst at GlobalData, comments: […]
US, China and India to be major markets for power transmission and distribution conductors over next four years
The global markets for transmission and distribution conductors are forecast to grow at a compound annual growth rate (CAGR) of 1% and 3.6%, respectively, between 2020 and 2024. The US, China, and India will propel the global markets over the next four years, with the three countries accounting for a share of 42.4% (transmission) and […]
Greece’s target of phasing out coal by 2028 is ‘highly optimistic’
Greece apportioned EUR5bn (US$5.9bn) to phase-out the use of coal by 80% by 2023, to reduce the nation’s carbon footprint. These are highly optimistic targets, particularly considering the fact that back in 2015 coal-based generation formed 41.6% of the generation mix. In 2019 this reduced to 27.9%, which, by 2030, if not entirely staged out, is […]
Renewable energy in Chile gets more attractive with its major capacity build-up during 2019-30, says GlobalData
The Chilean renewable market stands to reap the benefits of its renewables’ potential and its intent to lower the price of electricity for the customers. The country has put in gigantic efforts to promote renewable expansion to contribute to its decarbonization plan and achieving the target of attaining carbon neutrality by 2050. The Chilean renewable […]
Italian renewable industry expands future renewable development amid land constraints and commercial viability
The Italian Government is expanding the integration of renewables in its generation mix to create an infrastructure for supporting sustainable green generation, thereby tackling the issues of land constraints and making continuous strides in meeting the net carbon neutrality ambition by 2050. The constant decline in the development costs for offshore wind and floating solar […]