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The largest power generation companies (GenCos) globally have a significant impact on climate change accounting for 36% of CO2 emissions in 2023. However, Power Generation Companies are committed to diversify energy sources, with the share of renewables projected to reach up to 90% by 2050, under the stringent climate policies maintained by our scenario EnerGreen. Strategies promoting climate action, and their implementation, are essential levers for achieving the targets set by the Paris Agreement.
That said, what tangible changes have taken place since 2015 amongst the key players?
• To which extent have companies' carbon factors evolved?
• What measures have been taken to reduce the output of thermal power plants?
• Which GenCos are expanding their solar and wind capacities?
• At what pace, and in what ways, are GenCos from different world regions working to achieve their climate objectives?
Enerdata has compiled and analysed essential data and trends regarding power mix and carbon factors since 2015, using our Power Plant Tracker database.
Chinese Generation Companies (GenCos) are the largest in the world, holding 39% of China’s total capacity in 2023 and achieving over 80 GW of renewable installations, surpassing the combined capacities of the EU27 and the US. However, increasing renewables alone will not suffice to meet the Paris Agreement targets without reducing thermal asset development.
Meanwhile, European GenCos have focused on low-carbon strategies since the 2010s, implementing coal phase-out measures and significantly increasing solar and wind capacities. They face challenges with profitability and emissions due to declining nuclear capacity and reduced capacity factors of thermal installations.
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Enerdata is an independent research company that specialises in the analysis and forecasting of energy and climate issues, at a variety of different geographic and business / sector levels. The company is headquartered in Grenoble, France, where it was founded in 1991, and has a subsidiary in Singapore.
Leveraging its globally recognised databases, business intelligence processes, and prospective models, Enerdata assists clients – which include companies, investors, and public authorities around the world – in designing their policies, strategies, and business plans.