rystad energy

EU's solar power generation is expected to increase by 50TWh this year thanks to increased capacity installations, according to Rystad Energy.

Southeast Asia is expected to add 300MW of floating solar PV (FPV) capacity in early 2024, according to a report from research firm Rystad Energy.

Countries beyond China will need to invest US$700 billion to develop their renewables production capacity, according to Rystad Energy.

Under the agreement, Velto Renewables and Kenergy will co-develop early-stage solar power projects in Spain.

In October, Turkish energy minister Alparslan Bayraktar said Turkey will need to install 5GW of solar and wind capacity every year until 2035, as renewables have great potential to meet the 2035 target of ‘supplying reliable and affordable energy in an environmentally friendly manner’.

From 2023-2025, investments in Southeast Asian renewables will exceed US$76 billion, and this investment amount will likely continue to rise. 

There are currently over 40GW of Chinese-made solar modules in storage across Europe with a cumulative value of around €7 billion (US$7.8 billion), according to data from research firm Rystad Energy.

In a recent study, Rystad Energy said Spain is on track to become the first of the top five European countries, including France, Germany, Italy and the UK, by power demand to generate more than half of its power from renewable sources.

It will be 10 times more expensive to operate gas-fired power plants in Europe than to build new Solar PV capacity in the coming years, according to research by Rystad Energy.

Around 35GW of PV manufacturing in Europe is at risk of being mothballed as elevated power prices damage the continent’s efforts to build a solar supply chain, research from Rystad Energy suggests.