The global power landscape is currently undergoing an energy transition phase with renewable power from wind and solar achieving grid parity, nuclear uncertainty, and increasingly stringent norms for reducing carbon emissions.
Global cumulative installed capacity for biopower increased from 49.4 gigawatts (GW) in 2006 to 111.3GW in 2016. The rise in global installed capacity during this period can be attributed to the installations in China and Brazil. Brazil used almost entirely solid-biomass conversion, with negligible biogas capacity addition.
Global wind turbine operations and maintenance market size increased from $2.1 billion in 2006 to $13.7 billion in 2016 at a CAGR of 20.6%. In 2016, global wind power capacity reached 491.0 Gigawatts (GW), with an addition of 52 GW in that year.
Unilever has announced that all of its UK operations will be powered by 100% renewable energy after signing a contract with Eneco UK to build a new wind farm in the Scottish Highlands. This move will shake up the FMCG market as one of the sectors biggest players goes green to save money and appeal to consumers.
The Westinghouse Group, a unit of Japanese conglomerate Toshiba Corporation, filed for Chapter 11 Bankruptcy (Reorganization) on March 29, 2017, after finding it difficult to obtain cash to fund rising cost overruns for its two US nuclear power plant projects, Vogtle 3&4 and Virgil C. Summer 2&3, both in the Southeast.
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Power systems across the world are witnessing significant changes on account of various external factors. Climate change is leading to increased power demand, which is putting pressure on generators as well as grid operators.
The global Air Quality Control System (AQCS) market is expected to grow between 2016 and 2020 at a CAGR of 7.19% with market value expected to reach around $12.8 billion by 2020 according to GlobalData’s recent report on the global AQCS market.
Brazil has been among the frontrunners in contracting renewable energy through the auction route. The country started with the auction mechanism way back in 2007, with the first alternative energy auction.