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Sector Snapshot: Renewable Energy Market

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In late 2010, the combined capacity of wind powered generators throughout the world reached 175 gigawatts. (Photo: K. Havezov)
In late 2010, the combined capacity of wind powered generators throughout the world reached 175 gigawatts. (Photo: K. Havezov)

BUSINESS

  • Investment in green energy has become a priority for China and India
  • Wind energy a major contributor to global energy market
  • Hydro power and geothermal energy continue to attract investment

As the world tries to cut down on greenhouse emissions and move away from traditional fossil fuels, the market for renewable energy is developing fast.

The world’s two fastest-growing economies, China and India, are still largely dependent on coal, but investment in green energy has become a priority. China is the largest producer of wind turbines in the world, and India is one of the leading producers of wind energy.

Wind energy is a major source of power in over 70 countries across the world, according to the Global Wind Energy Council. Major oil and biochemical companies are investing billions in renewable energies like biofuels, while developments in solar energy provide solutions on an industrial and consumer level. Hydro power and geothermal energy also continue to attract investment from major energy companies throughout the world.

Sector Statistics

  • Global biofuel production will increase at an annual rate of 8% over the next five years, according to a recent research report. The highest growth rates will be in Sweden (32.2%), Colombia (24.4%) and India (19.7%).
  • In late 2010, the combined capacity of wind powered generators throughout the world reached 175 gigawatts, according to the Global Wind Energy Council.
  • Solar energy could generate 2.5% of global electricity by 2025, according to the European Photovoltaic Industry Association and Greenpeace.
  • The European photovoltaic market currently accounts for around half of the total global energy capacity, according to a report by Nixon Peabody.

Latest Business News – Renewable Energy Industry

  • Wind energy specialist Vestas secures order for 50 turbines with a capacity of 100 megawatts from China
  • Exelon set to buy power generator Constellation Energy in a deal worth $7.9 billion
  • Oil and gas group Total to invest $7 billion in renewable energy by 2020

Key Players – Renewable Energy Industry

  • GDF SUEZ Energy, FirstEnergy, Electricite de France, EnBW Energie Baden-Wurttemberg, ABB, Baldor Electric, American Electric Power, AES Corporation, Cielo Wind Power, LP, Enel SpA, Enercon GmbH, Green Mountain Energy Company, GE Energy, NextEra Energy Resources, Shell WindEnergy, Suzlon Energy, TransAlta Wind, Vestas Wind Systems

Upcoming Events – Renewable Energy Industry

  • Asian Conference on Sustainability, Energy and the Environment, June 2, 2011, Osaka, Japan
  • International Green Energy Conference, 5 June, 2011, Eskisehir, Turkey
  • HydroVision Brazil, September 20-22, 2011, Rio de Janeiro, Brazil
  • Renewable Energy World India, August 10-12, 2011, New Delhi, India

By Jon McAllister for
Based in the UK, Jon McAllister reports on current events, technology and business news for leading online publications.

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