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9 August 2021

Weekly data: EU ramping up solar and wind to meet 2030 renewables target

Data shows the EU's pipeline of solar and wind is 1.3 times greater than existing capacity.

By Nick Ferris

The EU’s renewables capacity is set to soar in the coming years. Data shows the bloc’s pipeline of solar and wind is 1.2 times greater than existing capacity.

Free Report
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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
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Energy Monitor looked at all existing solar and wind plants in the 27 EU states recorded in GlobalData’s power plants database. These were compared with the plants that are either planned or under construction.

Solar PV panels in Provence, south-east France. (Photo by Gerard Julien/AFP via Getty Images)

The results reveal that Spain has the largest renewables pipeline if solar (51,000MW) and wind (29,000MW) capacity are added together, followed by Greece (24,000MW solar and 15,000MW wind) and Germany (3,000MW solar and 35,000MW wind).

This huge pipeline of projects puts countries in good stead to meet the EU’s target of having 40% renewables in its overall final energy mix by 2030, which was revised up from 32% as a part of the EU’s ‘Fit for 55’ policy package.

Data from Eurostat shows that in 2019 renewable energy represented 19.7% of final energy consumed, just 0.3% short of the 2020 target of 20%.

The chart chosen for Energy Monitor’s weekly data shows the top 20 countries in Europe by combined current and future wind and solar capacity. The countries at the bottom of the league table that do not feature are Croatia, Latvia, Cyprus, Malta, Slovakia, Slovenia and Luxembourg.

Luxembourg and Malta are also the bottom two EU countries for their overall share of energy that already comes from renewables, with 7% and 9% renewable energy, respectively. Cyprus is eighth from the bottom with 14% of its energy from renewables.

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Latvia (41% renewable energy), Slovenia (22%) and Slovakia (17%) fare better, due to the sizable share of electricity these countries receive from hydropower, while Croatia (28%) similarly performs well due to the large amount of electricity generated from biomass.

Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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