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Wind energy capacity additions fell by 15% in 2022

top 10 global wind turbine makers 2022Wind capacity additions fell by 15% in 2022, following two years of record build, according to a new report by research company BloombergNEF (BNEF).

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Global net zero will require $21 trillion investment in power grids

Electricity grids are the backbone of the energy transition, yet the networks we have today are not ready for the future. At least $21.4 trillion needs to be invested in the electricity grid by 2050 to support a net-zero trajectory for the world, according to a new report from BloombergNEF (BNEF). The New Energy Outlook: Grids report provides a more detailed breakdown of the grid analysis presented in BNEF’s New Energy Outlook 2022.

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680GW of new wind energy capacity is forecast to be installed by 2027

The wind industry can expect record installations in both onshore and offshore markets by 2025 with 680 GW of new capacity expected by 2027 according to GWEC’s Global Wind Report. After a disappointing year in 2022, a fast evolving policy environment has set the scene for a period of accelerated deployment over the coming years, with the industry set to install 136 GW per year, reaching a compound growth rate of 15pc.

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Record growth in renewables achieved despite energy crisis

Renewable Capacity Statistics 2023, released by the International Renewable Energy Agency (IRENA) shows that renewable energy continues to grow at record levels despite global uncertainties, confirming the downward trend of fossil fueled power generation.

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Financing the transition: How to make the money flow for a net-zero economy

Investments in clean energy must quadruple within the next two decades according to the Energy Transitions Commission (ETC). In its latest report "Financing the Transition: How to make the money flow for a net-zero economy" the ETC highlights the critical importance of strong government policies relating both to the real economy and to the financial system if finance is to flow on the scale required. It also identifies "concessional/grant" payments needed to support early coal phase-out, end deforestation and finance carbon removals.

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UK government confirms budget for this year's Contracts for Difference scheme

The UK Government has announced financial backing for its first annual flagship renewables auction. The UK government is offering £205 million in its latest renewables auction.

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