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On Thursday, 10 November 2022 at 3:00pm (GMT), the Power team at GlobalData will host a webinar on the key developments driving the importance of hydrogen in energy transition. Click here to register, and find out: Hydrogen production capacity details Demand drivers of hydrogen Policy initiatives boosting investments in hydrogen Major hydrogen projects announced Speaker: […]
Iran’s renewable energy growth continues to be hindered by US sanctions, says GlobalData
The Iranian power market has been severely impacted by the series of sanctions that have been imposed by the US, which has made it difficult for Iran’s finance and banking sectors to make payments or secure debt and equity finance for projects as it has become virtually impossible, found GlobalData. The leading data and analytics […]
Renewable power is the key for Germany to overcome potential energy crisis following Russia-Ukraine conflict, says GlobalData
To help divert a potential energy crisis, renewables are expected to play a major role in meeting Germany’s power demand as a result of the country’s gas and coal supply being stunted due to EU sanctions placed on Russia, observes GlobalData. However, the leading and analytics company found that as a result of Germany’s plans […]
Renewables key for Thailand to overcome dependency on fossil fuel imports, says GlobalData
Renewable energy development is key for Thailand to cut its dependency on fossil fuel imports, as gas-based thermal power generation accounted for nearly 61.3% of the country’s annual electricity generation in 2021, says GlobalData, a leading data and analytics company. GlobalData’s latest report, ‘Thailand Power Market Size, Trends, Regulations, Competitive Landscape and Forecast, 2022-2035’, reveals […]
Indonesia to speed up geothermal development to solve energy issues, says GlobalData
With an estimated 24GW in geothermal reserves that account for 40% of the world’s geothermal resources, Indonesia is set to accelerate the geothermal power development to solve its energy issues, says GlobalData, a leading data and analytics company. GlobalData’s latest report, “Indonesia Power Market Size, Trends, Regulations, Competitive Landscape and Forecast, 2022-2035,” reveals that Indonesia […]
Saudi Arabia won’t even come close to its 2023 renewable target, seeing a shortfall of 25.8 GW, says GlobalData
Under the Saudi Arabia Vision 2030, the country revised its renewables target to achieve 27.3 GW of renewable power capacity by 2023 and 58.7 GW by 2030. However, at its current rate of renewables development, the country is not even close to the 2023 target and even the 2030 targets look out of reach, says […]
Canada expected to miss its 2035 clean electricity goals, says GlobalData
Canada is expected to fall short of its 2035 clean electricity target, according to GlobalData, after reviewing the country’s current renewable capacity activity. The leading data and analytics company notes that the country was targeted to produce nearly 100% of its electricity from zero-emitting sources by 2035, however, the country is adding only 2.6 GW […]
Lack of governmental support has stunted the growth of renewables in Mexico, says GlobalData
Since the change in government in 2018, the growth in Mexico’s renewable power sector has been slower, growing from 10.2 GW to 17.8 GW compared to the growth the sector saw between 2013 and 2018, where constitutional reforms allowed the renewable sector to take on a larger role allowing the industry to grow from 3.5 […]
Japan to nearly achieve 2030 renewable power generation target, estimates GlobalData
Japan is focusing on the rapid development of renewable energy to fill the void created by the Fukushima nuclear power plant disaster. Japan released the Sixth Strategic Energy Plan in October 2021, which increased the country’s renewable power (including hydropower) generation target from the previous 22-24% to 36-38% by 2030. As per the current trend, […]
Strong policies and investments key for Spain to meet its 2030 renewable targets, says GlobalData
The Spanish government aims to achieve 160 GW of total installed renewable capacity by 2030 and has set a target to achieve 74% renewable electricity generation by 2030 and 100% by 2050. The country has taken a meticulous approach towards phasing out coal power generation by 2025, decommissioning oil-power plants by 2030, and phasing out […]
Denmark to accelerate renewable power development to overcome dependence on Russian gas, says GlobalData
The recent Russia-Ukraine conflict has dented Denmark’s gas supply, as nearly 75% of the country’s gas imports are provided by Russia via a pipeline through Germany, says GlobalData. The leading data and analytics company notes that the government’s pledge to step up its renewable development program, by increasing the number of solar photovoltaic (PV) and […]
South Africa power supply security to rely on gas-based capacity and renewables to replace coal with low power market growth expected to 2035, says GlobalData
The South Africa power market cumulative installed capacity was 64.5 GW in 2021 and is expected to grow at a low compound annual growth rate (CAGR) of over 1% from 2021 to 2035, with the proportion of gas-based capacity and renewable power expected to grow rapidly during the same period, according to GlobalData, a leading […]
India likely to fall short of 2030 renewable target at current pace, opines GlobalData
India announced new renewable energy goals last year to increase non-fossil power capacity to 500 GW and meet 50% of the country’s electricity needs through renewables by 2030. However, after including large hydro under the definition of renewables, the country is likely to achieve its 2022 target but may miss out on the solar specific […]
Global electrolyzer capacity to reach 8.52 GW by 2026 led by the Asia-Pacific region, says GlobalData
The increased support from governments in the form of hydrogen strategies, and the rapidly increasing low-carbon hydrogen capacity are driving the expansion of the global electrolyzer market which is estimated to reach 8.52 Gigawatt (GW) in 2026, found GlobalData. The leading data and analytics company also notes that electrolyzer capacity has doubled over the last […]
UAE introduces new methods of renewable energy to meet its 30% clean energy target by 2030, says GlobalData
The United Arab Emirates (UAE) currently relies on thermal power for most of its electricity supply and in 2021 this accounted for 92.6% of its total electricity generation. However, the country is looking to reduce its dependency on thermal power and move towards clean energy, found GlobalData. According to the leading data and analytics company, […]
Solar PV, offshore wind power key for South Korea to achieve clean energy goals, opines GlobalData
South Korea has earlier this year introduced the ‘9th Basic Plan for Long-Term Electricity Demand and Supply 2020-2034’ with a goal to increase the share of renewable energy in the energy mix from the current 15.1% to 40% by 2034. Against this backdrop, offshore wind power and solar PV will play a crucial role in […]
Angola needs a well-planned infrastructure plan to keep pace with hydropower demand, says GlobalData
The Angolan government has set a target of 9.9 GW of total installed capacity with a 60% electrification rate by 2025 and it is expected that hydropower capacity will account for 6.6 GW of the total target, says GlobalData. The leading data and analytics company notes that since hydropower is the primary source of power […]
Substantial investments are required to meet Austria’s 2030 target of 100% renewable electricity generation, says GlobalData
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. Attaurrahman Ojindaram […]
Nomura and Rothschild & Co were the top M&A financial advisers by value and volume in the power sector for Q1 2022, finds GlobalData
Nomura and Rothschild & Co have been identified as the top M&A financial advisers in the power sector in Q1 2022 by value and volume, respectively, according to the latest Financial Advisers League Table by GlobalData. The leading data and analytics company’s Financial Deals Database reveals that Nomura achieved the top ranking by value by […]
Qatar gas only short-term solution to Italy’s Russian imports problem, says GlobalData
The recent Ukraine crisis has hugely dented the gas supply security of Italy, according to GlobalData, which notes that 40% of Italy’s gas imports are from Russia*. The leading data and analytics company highlights that, while it will help prevent a power crisis, turning to Qatar is a very short-term solution, and the government will […]