News in Numbers

Global electricity demand in 2024 and 2025 is set to increase by 4% each year, the highest annual growth rate since 2007. The growth rate in 2023 was 2.5%.

Masdar raised $1bn via a second green bond under its Green Finance Framework to fund renewable energy projects, particularly in developing economies.

Ed Miliband, the UK’s new energy secretary, approved the construction of three new solar farms in England, with a combined total capacity of 1.4GW and expected to power over 400,000 homes.

The US government approved the 2.8GW Atlantic Shores offshore wind farm located offshore of New Jersey. The project is expected to supply power to one million homes.

Harmony Energy will commence construction on the Cheviré battery project, France’s largest battery energy storage system. The facility will be the country’s first large-scale two-hour battery.