OUR PROJECT FOCUS
OUR RENEWABLE PROJECT FOCUS
USA, EUROPE AND AUSTRALIA
In the United States, the solar PV market has seen rapid growth in recent years, with the country's cumulative installed capacity surpassing 100 GW in 2020. This growth is expected to continue, with the US Energy Information Administration (EIA) predicting that installed capacity will reach 140 GW by 2024. The US wind market has also seen strong growth, with the cumulative installed capacity surpassing 110 GW in 2020 and is expected to reach 140 GW by 2024. The US battery storage market is relatively small but is expected to see strong growth over the next few years, with the cumulative installed capacity projected to reach 10 GW by 2024.
In Spain, the solar PV market has seen significant growth in recent years, with the cumulative installed capacity surpassing 10 GW in 2019 and is expected to reach 20 GW by 2024. The wind market in Spain has also seen strong growth, with the cumulative installed capacity surpassing 24 GW in 2019 and is expected to reach 30 GW by 2024. The battery storage market in Spain is relatively small but is expected to see strong growth over the next few years, with the cumulative installed capacity projected to reach 1 GW by 2024.
In Australia, the solar PV market has seen rapid growth in recent years, with the country's cumulative installed capacity surpassing 9 GW in 2020. This growth is expected to continue, with the Australian Energy Market Operator (AEMO) predicting that installed capacity will reach 13 GW by 2024. The Australian wind market has also seen strong growth, with the cumulative installed capacity surpassing 8 GW in 2020 and is expected to reach 10 GW by 2024. The Australian battery storage market is relatively small but is expected to see strong growth over the next few years, with the cumulative installed capacity projected to reach 1.5 GW by 2024.
The growth in renewables in the United States, Spain, and Australia has been driven in part by ambitious renewable energy policies. In the United States, the Clean Power Plan and Renewable Fuel Standard are two of the major policies that have spurred the growth of the renewables market. In Spain, the Energy Transition Law has been instrumental in driving the uptake of renewables, while in Australia the Renewable Energy Target has been a major driver.
The suitability of each country for harnessing wind and solar to generate renewable energy is also an important factor in determining the uptake of renewables. In the United States, the vast majority of the country is suitable for both wind and solar energy generation due to its large land mass and generally favorable climate. In Spain, the high level of sunshine and large open spaces make it an ideal location for solar energy generation, while the country's mountainous terrain and strong winds make it well suited for wind energy generation. In Australia, the high levels of sunshine and large open spaces make it an ideal location for solar energy generation, while the country's coastal regions and prevailing winds make it suitable for wind energy generation.
OUR APPROACH
The renewable energy markets of the United States, Spain, and Australia have all seen significant growth in recent years. This growth has been driven by ambitious renewable energy policies, technological advances, and falling costs of renewable energy systems.
The suitability of each country for harnessing wind and solar to generate renewable energy is an important factor in determining the viability of our business models. The US, Spain, and Australia all appear to be well suited for renewable energy generation, and Canigou will continue to develop pipelines in each country aiding governments to meet their ambitious renewable energy policies to ensure the continued growth of the sector.
