Wood Mackenzie Power & Renewables

Read our Power & Renewables recap newsletter now! Download our expert's presentations from this year's World #Hydrogen Summit, read our US #solar market insight Q2 2024 report and dive into the current dynamics of volume and price within the GoO market 👇

ONE WEEK TO GO: Join us in our London office, on Tuesday 8 October 2024, as our panel of senior experts share their thoughts on the key drivers, enabling technologies, and commercial instruments supporting continued decarbonization in European Power. The event will consist of short presentations on key topics including: 🔹 Electricity’s role in the wider energy transition 🔹 The defining characteristics and sensitivities of decarbonised power 🔹 Wind and solar realising the project pipeline 🔹 The grid-scale energy storage landscape and investment opportunity Find out more and sign up here: https://okt.to/Qb4ugt

Looking to simplify the complex energy value chain insights with a single view? We've got you covered with Wood Mackenzie Lens Metals & Mining, our intuitive data analytics platform is designed to deliver integrated cross-commodity insights to capture the most bankable opportunities and inform your growth strategy. Lens Metals & Mining is now available for key mined commodities such as Copper, Nickel, Lithium and Zinc. 📈 Want to know more? View all the features of Lens Metals & Mining and watch out for more insights coming up your way: https://okt.to/Lnjim5

We are excited to announce that Wood Mackenzie is the knowledge partner for the upcoming Renewable Energy India Expo 2024 and The Battery Show India 2024, scheduled for October 3-5 at the India Expo Centre. Our Vice President, Alex Whitworth, will share his insights on energy market dynamics and India’s role in the global context during the keynote session. Additionally, Sooraj Narayan, our Principal Analyst, will lead a panel discussing the scaling of C&I #Solar through VPPAs, featuring perspectives from various industry leaders in India. Prateek Biswas, our senior analyst will be presenting his views on Pathways to Electrify India’s Transport Sector while Building #Battery Supply Chain Resiliency. Don't miss this opportunity to connect with policymakers and business leaders worldwide as we dive into conversations on solar, wind, bioenergy, energy storage, and more! See the event agenda here: https://okt.to/nqXBR5

Fantastic to see Malcolm Forbes-Cable, Vice President, Upstream and Carbon Management Consulting, speak at KIOGE - Kazakhstan Oil & Gas Conference & Exhibition last week. Speaking at the event, Malcolm said: “We should not overlook the opportunities presented by the shocks of 2022, which have catalysed investment in oil export infrastructure. Looking ahead, the concept of Kazakhstan as a gas hub can enhance resilience and connectivity across the region.” Learn more about Malcolm's work at Wood Mac, catch up on his recent insights and analysis, or get in touch here: https://okt.to/mBqeJn

Though current predictions suggest the races for the presidency, the House and the Senate are too close to call, we recently took a look at what a Republican sweep in the #USelection might mean for the industry - and the impacts it would have on the #IRA. Key factors we have modelled in our analysis include earlier ends to production tax credits and investment tax credits, the elimination of bonus adders, increased protectionist policies, and reduced DOE and FERC support to build out transmission to support renewable energy. Explore these potential impacts and more in our recent insight: https://okt.to/QARd83

LAST CHANCE TO REGISTER: On Monday 30 September, our senior experts will discuss how leading industry stakeholders are closely monitoring Chinese OEMs global progress and the potential strategies to stay competitive. The webinar will consist of short presentations on key topics including: 🔹 Analysis of global wind turbine order intake through H1 2024 🔹 Impact of Chinese OEMs on global order intake and advancements internationally 🔹 Market share projections of turbine OEMs and industry reactions, and a 🔹 Q&A Session. Find out more and sign up here: https://okt.to/EpcfLX

Earlier this week, Ting Yu, our Managing Consultant for APAC Solar Markets, delivered a keynote speech at the Solar Technology Innovation Conference, organized by the China Photovoltaic Industry Association (CPIA). In her presentation, she explored the rapidly expanding sectors of Chinese renewable product exports from a supply chain perspective, as well as the #solar asset development initiatives led by Chinese investors. The session ignited a lively discussion among attendees. The insights shared were drawn from Wood Mackenzie’s “Looking Overseas” report series, which tracks the activities of Chinese players in renewable asset ownership and equipment exports within the global market. Chinese investors are particularly interested in markets characterized by high power demand, stable business environments, and predictable revenue streams. Meanwhile, Chinese manufacturers are focusing on regions with local content requirements to establish themselves as regional manufacturing hubs. Read more about this report here: https://okt.to/Du9ilN

Here's your weekly Americas short-term #power insight 💡: Late-season heat in Oklahoma City resulted in almost $450 power for Southwest Power Pool (SPP) Last week, temperatures in Oklahoma City ran well above average, with highs topping out at 98 degrees on Thursday and Friday. The lingering summer heat, combined with a natural gas unit, McClain, ramping down earlier than expected resulted in South Hub prices reaching $370 and $450 in SPPs Day-ahead and Real-time markets respectively. On Monday, McClain, a 551 MW natural gas plant, ramped down early for a maintenance outage. This proved to be a major driver of the heavy congestion that would soon follow. Wood Mackenzie's SPP team was able to flag this outage on Monday, using our PowerRT platform and incorporated the information into forecasts for the rest of the week. Day-ahead market prices at South hub strengthened as the week progressed. By the end of the week, South hub's on-peak average cleared at $170. This was significantly higher than the most expensive summer-time clear, which was $72 on August 6th. On top of the congestion impacts, SPP also saw amplified real-time prices from wind underperformance. This was most prominent during the latter half of the week and drove real-time market prices to over $400 on both Thursday (9/19) and Friday (9/20), despite having a resource advisory called by the ISO. For more information on the specific congestion constraints that impacted the market please visit: https://okt.to/IL7mQx

US Regional Transmission Organizations (RTOs) face a tough task, balancing the ongoing provision of a safe, reliable and cost-efficient electricity supply with the need to prepare and adapt to surging demand and new sources of generation as the #energytransition progresses. Wood Mackenzie’s power and renewables short-term analysts recently presented a series of webinars reviewing the performance of US RTOs and providing outlooks for the upcoming season. Click below to learn about the hottest topics for US grid operators this Fall: including how multiple factors are driving record capacity auction prices for #PJM, and how #SPP's future demand growth will be driven by data centres and bitcoin mines. https://okt.to/vt3upP