Renewables soar, but fossil fuels continue to rise as global electricity demand hits record levels
Key Findings: Wind and solar combined grew by 16%, reinforcing their role as the fastest growing areas of the energy system. China was responsible for 56% of new additions with solar almost doubling in just two years. Wind and solar grew nearly nine times faster than total energy demand, and fossil fuels also grew (just over 1%) in 2024. The world saw a 2% annual rise in total energy demand, reaching a new high of 592 EJ. All-time records were reached across ALL forms of ene...
Turning point for CCS is now, DNV report finds, with global capture and storage expected to quadruple by 2030
Up to the end of the decade, cumulative investments in CCS are expected to reach USD 80 billion (£60bn). Recent turmoil and budgetary pressure in the global economy pose risks to CCS deployment, potentially shifting priorities and removing necessary finance needed. CCS will grow to capture 6% (1,300 MtCO2/yr) of global CO2 emissions in 2050, which falls significantly short of what is needed for any net-zero outcome. Oslo, Norway – Cumulative investment in carbon capture and s...
Philippines’ annual renewable power generation to reach 69.4TWh in 2035, forecasts GlobalData
The Department of Energy in the Philippines has established an ambitious objective of attaining 35% renewable energy generation by 2030. Furthermore, the country is on a path to install 15GW of clean energy by the same year. It has also set a target of achieving 50% renewable energy generation by 2040. Against this backdrop, annual electricity generation from renewables in the country is forecast to reach 69.4TWh in 2035, registering a compound annual growth rate (CAGR) of 13.1% during 2024-35,...
Türkiye’s renewable power capacity to reach 38.2GW in 2035, forecasts GlobalData
Türkiye boasts one of the world's most rapidly expanding energy markets, driven by its robust economic growth. However, the country relies heavily on fossil and electricity imports to meet its domestic power demand. To reduce this dependency, the country is looking to expand is renewable capacity. In October 2024, Türkiye's Ministry of Energy unveiled its 2035 roadmap for renewable energy. Against this backdrop, the country’s renewable power capacity is forecast to reach 38.2GW in 2035, register...
Talen Energy Expands Nuclear Energy Relationship with Amazon
Talen enters power purchase agreement for 1,920 megawatts of carbon-free electricity at full quantity to support Amazon operations, and explore SMR technology HOUSTON, June 11, 2025 - Talen Energy Corporation (“Talen,” “we,” or “our”) (NASDAQ: TLN), an independent power producer dedicated to powering the future, announced today that it has expanded its existing nuclear energy relationship with Amazon to provide carbon-free energy from Talen’s Susquehanna nuclear power plant to Amazon Web Serv...
Renewables to account for over half of Brazil’s annual power generation in 2035, forecasts GlobalData
Brazil generates power from a diverse range of sources that include thermal sources (gas, oil, and coal), hydropower, nuclear, and renewable. Hydropower accounts for the majority of the country’s annual power generation. However, overdependence on hydropower has made the country vulnerable to droughts. To overcome the challenge, the country is rapidly developing its renewable power capacity. In 2024, renewable power accounted for 36.7% of the country’s annual power generation and is expected to...
From Soil to Sea: Credit Risk Dynamics in Wind Energy Projects
Note: Illustration not to scale. Source: Energy Central. Summary While onshore wind power projects are generally cheaper to build, offshore wind projects offer a criterial advantage: the ability to deploy much larger turbines at scale, generating significantly more energy. This is especially valuable for densely populated European countries with extensive coastlines, as it facilities their renewable energy transition plans. While onshore and offshore wind power projects rely on similar...
Egypt’s renewable power capacity to reach 31.6GW in 2035, forecasts GlobalData
Egypt is endeavoring to augment the proportion of renewable energy within its electricity mix to 42% by the year 2035. The nation is actively expanding its capacity through the implementation of large-scale solar and wind energy initiatives. Against this backdrop, renewable power capacity in the country is expected to reach 31.6GW in 2035, registering a compound annual growth rate (CAGR) of 20.4% during 2024-35, according to GlobalData, a leading data and analytics company. GlobalData’s lates...
Global renewable power installed capacity to surge to 11.2TW by 2035, forecasts GlobalData
The power sector is experiencing a notable growth in renewable energy sources, propelled by an array of factors such as technological progress, policy incentives, and a heightened awareness of the imperative for sustainable energy solutions. Consequently, renewable resources, particularly solar photovoltaic (PV) and wind energy, are gaining a larger share in the energy portfolio. Driven primarily by declining costs and strong policy support, particularly for solar PV and wind energy, the global...
Laos’ large hydropower capacity to reach 16GW in 2035, forecasts GlobalData
Laos’ Ministry of Energy and Mines (MEM) has set a goal to reach hydropower capacity of 12GW by 2025 and 20GW by 2030, with the objective of facilitating regional exports. The nation is poised to export renewable electricity to Thailand, Cambodia, and Vietnam, and to a lesser extent, to Myanmar and Malaysia. Against this backdrop, large hydropower capacity in the country is expected to reach 16GW in 2035, registering a compound annual growth rate (CAGR) of 4.8% during 2024-35, according to Globa...
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June Issue 2026
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