This Renewable Energy Company Sees a Bright Future for Solar Power

Written by Valdemar Medeiros

Published on 16/08/2020 at 16:30

Painéis de energia solar

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North American Renewable Energy Company Made An Incredible Business Projection Involving Solar Energy

Brockfield Renewable is a global leader in hydroelectric power generation. It has 7.9 gigawatts (GW) of hydroelectric plants in operation, accounting for 64% of its cash generation. It is also a significant producer of wind energy, with 4.7 GW of installed capacity, contributing to 27% of its annual generation. However, management believes that solar energy could surpass them in importance for the company in the coming years.

Brookfield Renewable

The company has acquired or developed 3 GW of solar energy projects in the last five years. It built this portfolio in various ways, but one of its most notable moves was acquiring TerraForm Power and TerraForm Global. The company also formed two joint ventures. In 2018, it joined forces with leading global logistics provider GLP in a 50-50 partnership to develop rooftop solar projects in China. Meanwhile, last year, it acquired a 50% stake in global solar project developer X-Elio.

Brookfield Renewable also acquired several solar energy development projects in Brazil last year, including recently signing an agreement to purchase a 1.2 GW project, one of the largest in the world. As a result, the company has around 10 GW of solar projects in development, positioning this energy source on track to become a much more significant part of the company’s financial landscape.

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A Future Powered By Solar Energy

CEO Sachin Shah highlighted the rapid growth of the company’s solar energy business in his letter to investors for the second quarter: As a result of technological advances and reductions in construction costs, solar energy can sustain itself without subsidies and, more importantly, is now among the lowest cost conventional energy sources worldwide. To put this into perspective, the costs for solar energy over the last five years – the period in which we built our solar energy business – have dropped from over $4 per watt to install, to less than $1 per watt in almost all jurisdictions around the world.

This Renewable Energy Company Sees a Bright Future for Solar Power

North American Renewable Energy Company Made An Incredible Business Projection Involving Solar Energy

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Brookfield Renewable

A Future Powered By Solar Energy

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This Renewable Energy Company Sees a Bright Future for Solar Power

North American Renewable Energy Company Made An Incredible Business Projection Involving Solar Energy

Read Also

Brookfield Renewable

A Future Powered By Solar Energy

The Soviet Union spent 22 years drilling into the Earth’s crust and reached a depth of 12,262 meters — they found water where it was thought impossible, hydrogen bubbling from the rock, granite that is 2.7 billion years old, and temperatures of 180 degrees that melted the drill bits.

Egypt wants to draw 10 million cubic meters of water from the Nile per day into the desert, irrigate a new agricultural frontier, and build a city where there is currently only sand.

Norway is drilling 27 kilometers of rock 392 meters below the bottom of a fjord to build the world’s largest and deepest underwater road tunnel — when completed, a 21-hour journey will be reduced to 10.

Chinese engineers begin filling a 217-meter dam at an altitude of 3,000 meters and prepare a 2,240 MW hydroelectric power plant to integrate hydropower, solar, and wind energy in the upper Jinsha.

A German architect built a cylindrical house in 1994 that rotates to follow the sun throughout the day, generates 5 times more energy than it consumes, and was the world’s first energy-positive house.

An astronaut spent 340 days in space while his twin brother stayed on Earth, and NASA found a “rejuvenating” effect, genes, microbiome, cognition, and immune system that revealed the biological cost of living outside the planet.

A single solar storm can knock out satellites, wipe out GPS, and leave 40 million people without power for months — and the transformers that protect the grid take 4 years to manufacture.

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Sydney is erecting the world’s tallest wooden skyscraper — it’s 40 stories of hybrid timber that sequester carbon instead of emitting it, and the tower is expected to be completed as early as 2026.

While sanitation in Brazil serves only 55% of the population and discharges sewage into rivers, Singapore already recycles 100% of the water it consumes and has transformed sewage into award-winning potable water.

The Sagrada Família in Barcelona has completed its main structure after 144 years of construction — exactly 100 years after Gaudí’s death, and the tallest tower reaches 172 meters.

After mapping more than 200 million proteins, artificial intelligence enters the race to accelerate drugs, vaccines, and enzymes against plastic and CO₂, opening an era in which molecules can be designed on demand.