EIA Study: US grows to nearly 1 GW in cumulative wind power capacity
With numerous clean energy efforts starting to take hold in the United States, it is clear that there is a growing interest in producing and procuring energy from renewable sources. But is there discernable action behind this interest? According to the Energy Information Administration (EIA), the answer to this question is a resounding yes.
The EIA released a new report this week detailing wind energy investments over the year 2014. According to this report, 74,000 small wind turbines (generating no more than one MW each) across the United States, Puerto Rico, and the Virgin Islands have contributed to distributed wind power in the country reaching a cumulative capacity of 906 MW or almost one full GW.
The United States’ wind energy supply did not go from zero to nearly a full gigawatt overnight, of course: some states have been ramping up their own efforts to varying degrees over the years. But the EIA’s report indicates that 2014 was a strong year for wind energy growth, with 63.6 MW of distributed wind capacity added on—extra wattage coming from 1,700 wind turbine units installed across 24 states, representing a $170 million investment in wind power.
That’s not all, either. Beyond the simple number of wind turbines that have completed construction in the last year, the EIA report also offered some additional interesting insights including:
- The top five small wind turbine manufacturers and suppliers in the United States in 2014 in terms of capacity, a list consisting of: Northern Power Systems of Vermont, Bergey WindPower of Oklahoma, PowerWorks of California, Primus Wind Power of Colorado and Ventera Wind of Minnesota;
- New Mexico, Texas and California as the top three states increasing their wind capacity, with New Mexico in particular accounting for a 55 percent majority of the United States’ annual wind power capacity;
- The average capacity-weighted average install cost of wind power, which has decreased from $6,940/kW in 2013 to $6,230/kW in 2014, thereby proving that wind power is becoming increasingly affordable as the years progress.
This data is invaluable, not only showing that wind power is gaining traction but also showing where in the United States it is picking up speed. The data was compiled by the EIA, the Department of Energy (DOE), and the Pacific Northwest National Laboratory.
[SOURCE: Renewables Biz]
M&A activity key lever for future tech sector growth
Despite the continuing uncertainty of the pandemic, the tech sector has witnessed soaring dealmaking activity over the past year, rocketing in the second half of 2020, with the last quarter of 2020 a record one for M&A activity, and momentum continuing into 2021.
Dealmaking in tech sector soars in past year
And the latest figures bear this out with the number of technology M&A deals totalling US$208.44bn globally in Q1 2021, according to GlobalData. While the US holds top spot both in volume of deals (1034) and total value (US$140.61bn), Europe ranked next with 649 deals (US$44.49bn) with the UK continuing its reign as Europe’s biggest M&A market with 204 deals.
In particular, megadeals – those valued at US$5bn or more – soared in 2020 representing 59% of all global technology sector deal value in 2020, up from 47% in 2019, according to the latest edition of the EY Technology Global Capital Confidence Barometer.
This tech sector trend towards megadeals is backed up by EY’s CCB data, with 16% of tech sector respondents planning to pursue transformative deals valued at US$5bn or more in the near-term.
While technology deal activity “all but stopped at the beginning of 2020 after fluctuating between historic highs and lows, companies pivoted quickly and tech M&A exploded in the second half of the year”, says Barak Ravid, EY Global TMT Leader for Strategy and Transactions.
M&A activity level for tech sector growth
Looking ahead to the future, technology executives are optimistic, with nearly half (47%) expecting profitability to fully rebound this year, according to CCB data, compared to 23% across all sectors, and with more than half (51%) planning to pursue M&A in the next year in order to sustain growth.
According to Ravid, M&A activity is increasingly becoming a key lever for growth as businesses look to recover.
“To position themselves for future revenue growth, tech companies are now adjusting their M&A strategy to focus more on a target’s business resilience, digital technology alignment and to gain market share through consolidation,” says Ravid.
However, with an increasingly competitive deal market and ongoing geopolitical tensions, the majority of tech execs expect to see more competition in the bidding process for assets over the next year, primarily from private capital.