BAKU, Azerbaijan, Aug.19
By Leman Zeynalova – Trend:
Europe’s renewable energy capacity has increased from 575,075 MW in 2019 to 609,116 MW in 2020, Trend reports with reference to the International Renewable Energy Agency (IRENA).
Germany took lead in terms of the alternative energy capacity with 131,739 MW in 2020, followed by France with 55,365 MW and Italy with 55,299 MW. Austria comes in fourth with 21,842 MW, followed by Belgium with 11,277 MW and Greece with 10,887 MW.
The lowest level of renewable energy capacity as of 2020 was recorded in Andorra with 54 MW.
As for production, Europe saw an increase from 1,300,021 GWh in 2018 to 1,333,746 GWh in 2019. No data is available for 2020. Germany also leads in output with 242,435 GWh in 2019, followed by Italy with 115,860 GWh and France with 113,112 GWh.
Deloitte notes that renewable energy dealmaking will likely rise in 2021 as companies, utilities, and governments prepare to meet ambitious climate targets.
“Different types of industry players will likely consolidate their positions across the value chain. A growing number of special-purpose acquisition companies (SPACs) entering the clean energy space may also boost investment in renewables companies. Rising state renewable portfolio standards, increasing levels of corporate and residential demand, and improving economic competitiveness continue to be the key drivers for utilities’ and other energy companies’ interest in renewables. Federal support, mandates, and stimulus could provide additional powerful drivers in 2021,” reads a report published by Deloitte.
The company notes that the renewables segment continues to capture a significant share of deal activity in the power and utilities industry: 144 of the 174 merger and acquisition deals announced through early December involved renewable energy assets or companies.
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