Events
Massive expansion of renewable power opens door to achieving global tripling goal set at COP28
World added 50% more renewable capacity in 2023 than in 2022 and next 5 years will see fastest growth yet, but lack of financing for emerging and developing economies is key issue
The world’s capacity to generate renewable electricity is expanding faster than at any time in the last three decades, giving it a real chance of achieving the goal of tripling global capacity by 2030 that governments set at the COP28 climate change conference last month, the IEA says in a new report.
The amount of renewable energy capacity added to energy systems around the world grew by 50% in 2023, reaching almost 510 gigawatts (GW), with solar PV accounting for three-quarters of additions worldwide, according to Renewables 2023, the latest edition of the IEA’s annual market report on the sector. The largest growth took place in China, which commissioned as much solar PV in 2023 as the entire world did in 2022, while China’s wind power additions rose by 66% year-on-year. The increases in renewable energy capacity in Europe, the United States and Brazil also hit all-time highs.
The latest analysis is the first comprehensive assessment of global renewable energy deployment trends since the conclusion of the COP28 conference in Dubai in December. The report shows that under existing policies and market conditions, global renewable power capacity is now expected to grow to 7 300 GW over the 2023-28 period covered by the forecast. Solar PV and wind account for 95% of the expansion, with renewables overtaking coal to become the largest source of global electricity generation by early 2025. But despite the unprecedented growth over the past 12 months, the world needs to go further to triple capacity by 2030, which countries agreed to do at COP28.
Alongside the report, the IEA also released a new Renewable Energy Progress Tracker, which allows users to explore historical data and forecasts at the regional and country level, including tracking progress towards the tripling goal.
“The new IEA report shows that under current policies and market conditions, global renewable capacity is already on course to increase by two-and-a-half times by 2030. It’s not enough yet to reach the COP28 goal of tripling renewables, but we’re moving closer – and governments have the tools needed to close the gap,” said IEA Executive Director Fatih Birol. “Onshore wind and solar PV are cheaper today than new fossil fuel plants almost everywhere and cheaper than existing fossil fuel plants in most countries. There are still some big hurdles to overcome, including the difficult global macroeconomic environment. For me, the most important challenge for the international community is rapidly scaling up financing and deployment of renewables in most emerging and developing economies, many of which are being left behind in the new energy economy. Success in meeting the tripling goal will hinge on this.”
“This report is the first key instalment of the IEA’s follow-up work on the energy outcomes of COP28 that will continue throughout 2024 and beyond,” Dr Birol said. “This is based on the five key pillars we set out ahead of COP28 and covers tripling renewables, doubling energy efficiency, cutting methane emissions, transitioning away from fossil fuels, and scaling up financing for emerging and developing economies. We will be following very closely to see whether countries are delivering on their promises and implementing appropriate policies.”
What is needed to triple renewables by 2030 varies significantly by country, region and technology. The report lays out an accelerated case in which more rapid policy implementation drives renewable power capacity growth 21% higher than in the main forecast, which would push the world towards being on track to meet the global tripling pledge.
In advanced and large emerging economies, this would mean addressing challenges such as policy uncertainty in a fragile economic environment, insufficient investment in grid infrastructure to accommodate greater shares of renewables, and cumbersome administrative barriers and permitting delays. In other emerging and developing economies, access to finance, strong governance and robust regulatory frameworks are essential to reduce risk and attract investment, including establishing new targets and policies in countries where they do not exist yet.
Solar PV and onshore wind deployment through 2028 is expected to more than double in the United States, the European Union, India and Brazil, compared with the last five years. Prices for solar PV modules in 2023 declined by almost 50% year-on-year, with cost reductions and fast deployment set to continue. This is because global manufacturing capacity is forecast to reach 1 100 GW by the end of 2024, significantly exceeding demand. By contrast, the wind industry (outside of China) is facing a more challenging environment due to a combination of ongoing supply chain disruption, higher costs and long permitting timelines, which require stronger policy attention.
The report also provides a reality check on the momentum behind renewable-based hydrogen, assessing how many announced projects are likely to go ahead. Of all the projects announced worldwide to use renewables to produce hydrogen this decade, only 7% of the proposed capacity is expected to come online by 2030. The slow pace of projects reaching an investment decision combined with limited appetite from off-takers and higher production costs have led to slower progress on many projects. To fully convince investors, ambitious project announcements will have to be followed by consistent policies supporting demand.
In 2023, the role of biofuels has also come to the fore. Emerging economies, led by Brazil and India, are expected to drive 70% of global demand over the next five years as biofuels start to show their true potential in hard-to-abate sectors such as air travel and as a replacement for highly polluting fuels like diesel. While biofuels deployment is accelerating, the report shows that this is not happening quickly enough, with a significant increase required in demand by 2030 needed to align biofuels with a net zero pathway.
Events
IEG: with the new edition of key – the energy transition expo the sustainable future takes shape
A larger exhibition area with a redesigned event layout to increase business and networking opportunities. Greater international scope with the involvement of an increasing number of buyers, delegations and qualified operators from all over the world. Focus on innovation and the green skills needed to achieve the energy transition. New projects and thematic areas for a complete view of the energy of the future.
These are the credentials with which the new edition of KEY – The Energy Transition Expo, the event organised by IEG (Italian Exhibition Group) on energy transition and efficiency, a reference point in Europe, Africa and the Mediterranean basin, is presenting itself.
The new appointment, scheduled from 5th to 7th March 2025 at Rimini Expo Centre, is set to become the largest ever, breaking its own records starting from the number of exhibiting brands, expected to increase by more than 20%.
KEY’s Technical-Scientific Committee’s schedule of meetings will also be brimming with international events, confirming the event as a unique opportunity for training, information and professional updating, even on topics not previously addressed at the event, such as nuclear power and Artificial Intelligence. They will range from agrivoltaics to Renewable Energy Communities, green residential and industrial redevelopment, electric mobility, hydrogen, the role of local administrations, reflections on energy cost containment, regulatory aspects and new financial opportunities.
KEY 2025 will consolidate its role as a global reference network capable of bringing together all the players involved in the energy transition and favouring meetings, debates and dialogue with the Institutions. The aim it to create a system and contribute to speeding up the decarbonisation process. Moreover, the event also provides a privileged opportunity for companies and professionals that want to rationalise their consumption and reduce the energy and environmental impact of their activities, to learn about possible solutions and the latest technologies available on the market.
The new layout
With over 90,000 m2 of exhibition area, KEY’s new layout includes the very first opening of the West Entrance, an addition to the South and East Entrances. The layout of the halls has also been reorganised, a total of 20 compared to the 16 at the 2024 edition, equally distributed along the East and West wings of the Expo Centre. The seven product sectors – solar and photovoltaic, wind energy, hydrogen, energy storage, energy efficiency, electric mobility and sustainable cities – are all confirmed, flanked by special areas dedicated to transversal projects, networking, innovation and training.
The new arrangement aims to plot a defined exhibition route through the seven, well-defined yet interconnected thematic areas, maximise existing synergies and improve the visitor experience. Furthermore, the variety of sectors represented at KEY will make it possible to create specific routes with personalised in-depth discussions.
The layout’s new features include an enhancement of the hydrogen area and a thematic focus on ports:
HYPE – Hydrogen Power Expo supported by Hydrogen & Fuel Cells: a real trade show organised by Italian Exhibition Group and Hannover Fairs International GmbH (HFI), the Italian branch of Deutsche Messe AG, where the topic of hydrogen and its importance for the energy transition will be explored
Support – Sustainable Ports for Energy Transition: an exhibition focus, to be inaugurated at KEY 2025, dedicated to the electrification of port docks, essential for reducing emissions, promoting sustainability in ports and accelerating the development of off-shore wind power, particularly floating wind farms.
Enhancing green talent and skills
For the first time, KEY will host the Green Jobs & Skill initiative to foster the encounter between labour market supply and demand with the aim of helping to bridge the green skills gap that is still common within companies. The project is a valuable training and career guidance opportunity for students and young workers, but also an opportunity for companies to meet potential candidates and intercept the most promising talents.
The first KEY Call for Papers is addressed to scholars, researchers, professionals and innovators: participants will be able to submit their own abstract on renewable energy and energy transition topics. The selected papers will be published by the new scientific journal QualEnergia Scienze and some of them may also be discussed in the conferences organised during the three-day event.
For more information about registration and participation in the Energy Transformation Fair, you can access it via the QR code below.
Events
Airborne Wind Energy: Over 300 visitors to the Airborne Wind Europe stand at WindEnergy Hamburg 2024
WindEnergy Hamburg 2024, the premier global onshore and offshore renewable energy event, provided a dynamic platform for Airborne Wind Europe to showcase the groundbreaking potential of Airborne Wind Energy. The AWEU booth featured 15 presentations covering topics as technological advancements, policy implications and market opportunities among others. Over 300 visitors ranging from industry experts and policymakers to investors and renewable energy enthusiasts came over to discover the last AWE advancements.
AWEU’s Speakers’ Corner: A hub of knowledge and insight
A key highlight of AWEU’s stand was the Speakers’ Corner, an exclusive space, set up fir the first time, dedicated to knowledge sharing and industry discussions. Over the course of the event, the Speakers’ Corner hosted 15 presentations delivered by AWEU members and the association itself addressing diverse themes including innovations in technology, regulatory frameworks, and potential market prospects for AWE. Each day saw an average of four presentations, attracting significant interest from attendees willing to deep into the potential and regulatory future of AWE.
“The Speakers’ Corner was a great success with our members explaining the status of their individual projects or their companies,” said Kristian Petrick, Secretary General of Airborne Wind Europe.
Cutting-edge Innovations at Airborne Wind Energy Booths
The AWEU booth featured Kitepower’s impressive 40m² kite and fruitful discussions on the future of AWE and its innovative applications. The large-scale kite pulled up on the top of the booth attracted a diverse audience, highlighting the practical and scalable nature of AWE systems.
In addition to the AWEU stand, several member companies presented their pioneering AWE technologies and projects, which attracted a great deal of attention from industry experts and stakeholders:
– SkySails Power presented significant advancements in AWE technology development also setting up a real kite on the top of its stand. In their presentations they pointed out, among other stuff, the industry’s first validated performance power curve and they also shared updates on their successful efforts to include AWE into Germany’s Renewable Energy Law (EEG), demonstrating their commitment to integrate this technology into the mainstream energy mix.
– EnerKite unveiled a new system design and announced the pre-sale of the EK100 system, a high-performance wind energy solution. This launch highlighted EnerKite’s dedication to push the boundaries of AWE technology and flagging its access for commercial deployment.
“It’s great seeing the Airborne Wind Energy development fast forward, ready to launch first products already in the market,” said Jon Gjerde, Chairman of Airborne Wind Europe.
Looking ahead to WindEnergy Hamburg 2026
As WindEnergy Hamburg 2024 came to an end, Airborne Wind Europe is already gearing up for the next edition in two years. The association remains committed to advance AWE technology and promoting it as a viable and sustainable solution for the future of renewable energy. The enthusiasm and engagement witnessed at this year’s fair reflect the growing interest in AWE and its potential to revolutionise the energy landscape.
With continued collaboration, innovation, and advocacy, Airborne Wind Europe is set to play a pivotal role in shaping the future of clean and sustainable energy.
WindEnergy Hamburg 2024 is sending a powerful signal: At the official opening ceremony, with Vice-chancellor Robert Habeck attending remotely by video, leading representatives from politics and the industry emphasised the importance of clear regulations and international cooperation in driving the energy transition. Dr. Melanie Leonhard, Hamburg’s Senator for Economics and Innovation, emphasized the radiance of WindEnergy Hamburg in her speech. As the perfect platform to promote these efforts, WindEnergy Hamburg features more than 1,600 exhibitors and over 200 conference slots.
“From turbine technology and grid expansion to storage and smart AI solutions, renewable energy is, of course, front and centre at WindEnergy Hamburg. But like every trade fair, WindEnergy Hamburg thrives on the live interaction of people, and we are excited to see so many participants devoting all their energy and commitment to making this event special,” said Heiko M. Stutzinger, CEO of Hamburg Messe und Congress, at the opening of WindEnergy Hamburg. The expo chief and his team have invited top-flight guests: Robert Habeck, Federal Minister for Economic Affairs and Climate Protection, participated remotely in the opening ceremony of the world’s leading wind industry expo, which celebrated its inauguration ten years ago. This was followed by international government and industry representatives discussing the opportunities and challenges brought about by the energy transition:
Udo Bauer, CEO – Enercon, representing VDMA Power Systems
José Luis Blanco, CEO – Nordex Group / Chairman – WindEurope
Lee Chuan Teck, Executive Chairman – Enterprise Singapore
Zafer Demircan, Vice Energy Minister, Republic of Türkiye
Bärbel Heidebroek, CEO – Landwind Group / Chairwoman – BWE
Kaspars Melnis, Minister for Climate and Energy, Latvia
Andrew Mitchell, British Ambassador to Germany
Dr. Philipp Nimmermann, State Secretary at the Federal Ministry of Economics and Climate Protection, Germany
Parviz Shahbazov, Energy Minister, Republic of Azerbaijan
Tinne Van der Straeten, Energy Minister, Belgium
Girish Tanti, Vice-Chairman – Suzlon Group / Vice-Chair – GWEC, India
WindEnergy Hamburg 2024
Wind energy in Europe: Paving the way to energy independence
Wind energy currently covers 20 per cent of Europe’s energy consumption. Governments want this share to rise to 35 per cent by 2030, and to more than 50 per cent by 2050. Philipp Nimmermann, State Secretary at the Federal Ministry of Economics and Climate Protection, stressed that Germany is spearheading these efforts, having increased the speed of wind energy expansion significantly. “We are seeing record numbers of approvals and contract awards in tender processes, but the industry is capable of even more,” stated Bärbel Heidebroek, CEO of Landwind Group and Chairwoman of the German Wind Energy Association (Bundesverband Windenergie, BWE). Latvia, after constructing LNG storage facilities and building up its renewable energy capacity, is almost fully independent from Russian natural gas today. The country wants to generate all of its power from renewable sources by 2030. To realise this vision, Latvia is planning to install 1.5 to 2 GW of additional wind energy capacity, said the Latvian energy minister Kaspars Melnis. “This minimises our dependence on imported power while allowing us to operate without fossil fuels.”
Tackling challenges: Investments and infrastructure
When expanding wind energy capacity, it is important to keep an eye on the entire energy value chain, said José Luis Blanco, Chairman of WindEurope and CEO of Nordex Group. “It is about energy security, competitiveness, and resilience: bottlenecks like electricity grids and transport infrastructure need to be addressed in acceleration of new wind power deployments.” Udo Bauer, CEO of wind turbine manufacturer Enercon and representative of the industry association VDMA Power Systems, emphasised the importance of fair competition in the market amid growing pressure from non-European market participants: “We need a level playing field that ensures equitable competition in Germany and Europe and punishes price dumping. The industrial policy framework for the onshore wind segment must give us a chance to continue investing in Germany and Europe.”
Global cooperation: Opportunities and synergies
The second discussion panel, which included Girish Tanti, Vice-Chairman of Suzlon Group and Co-Chair of the Global Wind Energy Council (GWEC), drew attention to the international dimension of the energy transition. The experts agreed that the global North, which has been at the front line of the green energy revolution so far, needs the support and capabilities of the global South when it comes to cost-efficient technologies and supply chains that can help realise the full potential of renewable energies.
This means that countries like Azerbaijan must come aboard: The host country of COP29, the next United Nations Climate Conference, looks back on a long fossil fuel history but is now showing openness for change. Needing a total of 10 GW of green energy generation capacity to cover its domestic energy need, decarbonise, and export energy, Azerbaijan wants to integrate an initial 2 GW into its energy system in the coming years. In this context Lee Chuan Teck from Enterprise Singapore underlined the importance of global collaboration: “In the journey towards clean energy, there is scope for more enterprises in Europe and Asia to work together to access each other’s technologies, capabilities and markets.” Leveraging these synergies is a must for a successful fight against climate change.
WindEnergy Hamburg – a global hub
“WindEnergy Hamburg is the main hub for the wind power industry: It brings together all major global stakeholders of the wind industry and fosters close interaction,” said Claus Ulrich Selbach, Business Unit Director Maritime & Technology Fairs at Hamburg Messe und Congress. For four days, innovation, investments and the future of wind energy are in focus at WindEnergy Hamburg, a trade fair that presents unique opportunities to establish new business partnerships and join hands in exploring solutions to the global challenges of the energy transition.
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