Highlights from Renewable Energy Trends Report December 2020
November registered over 30 GW of new renewable energy project announcements, bringing the cumulative tally of proposed capacity this year to 307 GW.
Green hydrogen soared in 2020, with 50 GW of new projects proposed this year. Governments are racing to incentivize projects for domestic and export markets – working hard to attract the billions of dollars expected to be invested over the coming years.
M&A activity in November kept pace, with another 8 GW transacted world-wide. Despite being the lowest month since May, it is still more than double the M&A activity of November in 2019.
The United States was the biggest market for PPA announcements in November, representing 49% or 1.53 gigawatts (GWAC) of all contracted capacity for the month. Shell and EDP’s Mayflower offshore wind farm accounted for 48% of this capacity.
See Gero Farruggio's, Head of Global Renewables, present key take aways from this months Renewable Energy Trends Report in the video below.