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    Central American Development Bank commits $800 million toward the fuel relief effort

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

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    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

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    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

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    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    Britain Relaxes Its Fracking Moratorium Due To Energy Crisis

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    UK Government To Remove The Limits For Onshore Wind Planning

    UK Government To Remove The Limits For Onshore Wind Planning

    First-Ever Nuclear Reactor Shutdown In Belgium Takes Place

    Massachusetts Climate Law Encourages Offshore Wind Options

    Global Renewable Energy Jobs Reach 12.7mn In 2021, Up 6%

    To Help Find Stranded Assets, Fossil Fuel Registry Launched

    South Korea Will Step Up Its Energy Partnership With ASEAN

    German Group Worries EC Windfall Tax Will Hurt Bioenergy

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    Refiners Should Not Be Making Above Normal Profits- Biden

    Refiners Should Not Be Making Above Normal Profits- Biden

    Cluster of Businesses Want The EU To Improve Energy Security

    Cluster of Businesses Want The EU To Improve Energy Security

    Enel plans to expand power distribution business into US

    In A Move To Avert Blackouts Australia Halts Power Market

    Central American Development Bank commits $800 million toward the fuel relief effort

    Central American Development Bank commits $800 million toward the fuel relief effort

    A New 500-MW Supercritical Coal-Fired Power Plant Going into Operationa in Philippines

    EU Reduces Plans of Fossil-Fueled Electricity By One-Third

    BP to invest up to £18 billion in UK energy system by 2030

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

  • Press Statements
    Italy's Innovatec targets EUR 100m in revenue from new solar business

    Italy’s Innovatec targets EUR 100m in revenue from new solar business

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

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Energy Firms On Course To Meet Transition Goal, Study Finds

in News, Renewable Power

As global renewable energy efforts gain traction, energy companies are “on pace” for their energy shift, according to GlobalData. However, GlobalData observed that power companies will need to adopt a comprehensive approach to sustainability rather than merely focusing on environmental considerations in its ESG Top Trends by Sector-Thematic Research.

According to Energy Transition Analyst at GlobalData, Adrian Li, renewables’ taking an increasing part in the global power mix can be considered as a consequence of many sustainability programmes from power companies to boost investments in creating clean power production projects.

Government subsidies have increased the price competitiveness of green energy, driven down its prices tremendously, and facilitated a faster transition from fossil fuels by businesses, according to a report.

Li pointed out that GlobalData anticipates 2024 to be a turning point when renewable energy sources surpass coal-fired power facilities.

Due to technical breakthroughs and supportive governmental regulations, renewable energy is predicted to supply more than 40% of the world’s energy by 2030.

Consumers are increasingly concerned about climate change, carbon emissions, and, consequently, the impact on society of these businesses. According to Li, as interest in energy becomes more consumer-driven, factors like unfavourable working conditions or corruption would seriously harm the reputation of power providers and reduce investment. Even something as unreliable as cybersecurity, which is unrelated to climate change, might damage a company’s reputation and cause the public to lose faith in it.

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