Top Green Energy Buyers, Wind Turbine Market Share, Small Solar in Latam, EVs vs Gas Cars, Aviation Fuels
Guillaume Fouché
Business Leader Latin America, Caribbean, US Mid-Atlantic & South East @BloombergNEF | Co-Founder & Board Member @AMIVE | MBA | Clean Energy, Mobility & Sustainability
Hi, welcome to another edition of?The Race to NetZero?Newsletter, a monthly round-up of the best research and news from BloombergNEF .
Find below the best content published by our analyst team in the past month:
Amazon Is Top Green Energy Buyer in a Market Dominated by US
By Kyle Harrison Harrison, Head of Sustainability Research, BloombergNEF
Corporations ratcheting up their consumption of green power led to a record number of purchase deals in 2023. ?Tech giant?Amazon?took the top slot, buying more solar and wind power than the next three companies combined. ?This market is well-positioned for more growth with improving economics in key regions.
Amazon announced 74 individual power purchase agreements or PPAs across 16 different markets in 2023, totaling 8.8 gigawatts of capacity. Over 60% of these deals were for buying solar power, while the rest were for wind. The banner year brings Amazon’s announced corporate PPA portfolio to 33.6GW. This is the eighth largest clean energy portfolio globally, just behind?NextEra?at 34.6GW, though Amazon doesn’t own its projects.
China’s Goldwind Retains Turbine Supplier Lead, as Global Wind Additions Hit New High
Global wind capacity additions surged to a record high of 118GW in 2023. BNEF’s 2023 Global Wind Turbine Market Shares report finds that developers commissioned 36% more capacity worldwide than in 2022 after capacity additions skyrocketed in the world’s largest market, China. Some 107GW, or 90%, of global wind additions were on land while 11GW was offshore.
China’s Goldwind maintained its position as the world’s leading wind turbine supplier. The company commissioned 16.4GW of projects last year, 95% of which were in its home market. The record new build in China also propelled Envision, another local player, to second place, adding 15.4GW. Danish company Vestas ranked third, the only European manufacturer to make the top five, with 13.4GW. Windey finished fourth and Mingyang finished fifth in BNEF’s ranking.
Small Solar Is Driving Biggest Green Market in Latin America
By? James Ellis
Solar installations are set to jump in Brazil – the Latin American giant accounting for over 80% of the total clean energy investment in the region last year. The boom is driven by small-scale plants of 5 megawatts or less. These catapulted Brazil to the world’s third largest solar market in 2023, after China and the US, and ahead of countries like Germany and India.
It is a good time for the country to showcase its green credentials. It will preside over UN’s?COP30 climate conference in 2025, and is leading the G20 this year.
Lack of Capital Isn’t the Problem in Meeting Net-Zero Bill
Climate change won’t be a cheap problem to solve, with the race to net-zero emissions needing $4.8 trillion to be spent every year between now and 2030 on clean energy technologies.
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But if you consider that this number is just a fraction of global GDP, the challenge becomes not whether the world has enough money, but whether it can be mobilized to go to the right places.
Global investment and spending on the energy transition has been gathering momentum, surging almost sixfold over the past decade, based on analysis from BloombergNEF. But the record $1.8 trillion deployed last year was still just 1.7% of the world’s GDP, trailing other key sectors of the economy (Figure 1).
Military and defense budgets commanded a 2.1% share, after hitting an all-time high of $2.2 trillion, according to the International Institute for Strategic Studies. Russia’s ongoing war in Ukraine and conflict in the Middle East were the key drivers of growth.
No Doubt About It: EVs Really Are Cleaner Than Gas Cars
By Corey Cantor
As electric vehicles become a bigger part of the global car fleet, a contrarian take seems to surface every few months: are electric vehicles really?that?clean?
When it comes to lifecycle emissions, the answer is a resounding yes. According to a new report by BloombergNEF, in all analyzed cases, EVs have lower lifecycle emissions than gas cars. Just how much lower depends on how far they are driven, and the cleanliness of the grid where they charge.
United Airlines Is Betting Big on a Pricey Green Aviation Fuel
The airline is committed to net-zero greenhouse gas emissions by 2050. United CEO?Scott Kirby?has disavowed “flashy, empty gestures” and has committed to the “harder, better path of actually reducing the emissions from flying.”
The airline is helping suppliers develop new feedstock supplies and novel production pathways through its investment arm,?United Airline Ventures.
United announced, last year, a?1 billion gallon purchase agreement?over 20 years with?Cemvita, a biotech company working to develop microbes which can turn CO2 into lipids that can be used to produce SAF. United also?invested?in a company called?Alder Fuels?in 2021, which plans to produce SAF from biomass-like agriculture byproducts and wood residues using pyrolysis technology.?The company was rebranded Alder Renewables last year.
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Best Regards, Saludos, Cordialement
Guillaume
Corporate Finance, Debt and Private Equity | Energy Transition and Infrastructure |
7 个月Very interesting! Thanks for sharing!