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Amid Ukraine-Russia crisis, our analysts and industry experts are closely monitoring the markets and working hard to identify, gather and timely deliver analysis of the impact of the situation and the impact that it has on various markets. All our reports are updated with the latest impact on the market before being sent out to our customers.
According to a new report by EMR titled, ‘Global Green Power Market Report and Forecast 2022-2027’, the global green power market attained a value of nearly USD 45.99 billion in 2020. The market is further expected to grow at a CAGR of 12.3% in the forecast period of 2022-2027.
Increased government support for renewable energy is expected to give the forecast period profitable prospects for green power market growth. Because of the global implementation of tight government limits on greenhouse gas emissions, the size of the green power market is likely to expand in both industrialised and developing economies. Government financing for green energy is likely to increase, providing lucrative growth opportunities for the green power industry. There is growth in the regions like North America, Europe, Asia Pacific, mainly due to the support of the Government agencies.
Among the top industry players General Electric’s (NYSE: GE), GE Renewable Energy (a division of General Electric Company), recently won a contract from Continuum Green Energy India Pvt Ltd for the supply, installation, and commissioning of onshore wind turbines. For the 148.5 MW wind farm in Morjar, Gujarat, GE Renewable Energy will be responsible for supplying 55 sets of 2.7-132 onshore wind turbines. The agreement is expected to help the wind farm generate enough electricity to power 125,000 homes, meeting consumers' growing demand for green and sustainable energy. In addition, a long-term full-service contract for the wind turbine is also included in the contract, as said on June 17, 2021.
Market Analysis by Power Source, End-Use, and Region:
Key Findings of the Report:
Key Offerings of the Report:
The major players in the global market for green power are Adani Green Energy Limited, General Electric, JinkoSolar Holding Co. Ltd., NextEra Energy, Inc., and Siemens AG, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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