Renewables are expanding Canadian wind installations

fast, as the Netherlands fell sharply in 2017 to 340MW

strives to meet its 14% from 702MW in 2016 as
EU target in 2020. Recent eastern provinces cooled.
offers for unsubsidized Auctions such as the 700MW Taiwan has been taking Amidst coal-fired opposition,
offshore wind and a growing tenders in Alberta provide action to increase uncertainty continues for
May 2018 solar PV market are strong some optimism, pointing renewables to 20% by further new development,
contributors. to increased demand from 2025 while going nuclear- despite Eskom finally signing
western Canada. free. International and 27 outstanding PPAs from
Rank local investors have been the country’s renewable
Rank
1 2
Rank
Rank
particularly attracted to the energy IPP program.
3 4
Rank
Rank offshore wind sector due to
5 6
Rank
Rank its strong potential and a
7 8
Rank Rank stable financing climate.
9 10
Rank
Rank
China (mainland)

11 12
Rank
Rank
13 14
Rank
Rank
15
United States

Rank
16 17
Rank
Rank
United Kingdom

18 19
Rank
Rank
20 21
Rank Rank
Germany

22 22 Rank Rank
Australia

Netherlands

24 24 Rank Rank
26 26 Rank Rank
France
India

28 28
Denmark

Rank
Japan

Rank Rank Rank

30
Argentina

31 31 31
Mexico

Rank Rank
Chile

Morocco
(new)
Canada
34 34 Rank
Rank
36 37
Rank

Philippines
Rank

Turkey

Belgium
(new) 38 39
Rank

Italy

Brazil
(new)
40

Portugal

South Korea
(new)

Sweden
Egypt

Ireland

Pakistan
Spain
Although solar tariffs have

Jordan

South Africa
risen slightly in Gujarat’s

Thailand
Israel
latest auction, aggressively

Finland

Taiwan
low bids in 2017 wind and

Peru

Greece
solar auctions now seem

Kazakhstan
Indonesia
Poland

Norway
unsustainable. The threat Greater interconnection to
of solar import tariffs the rest of Europe and the

Kenya
and disputes between UK is likely to create future
developers and distribution opportunities for export
companies are raising of excess wind-generated
investor concerns. power. Large subsidy-free solar Proposals were unveiled in
projects are now springing January for the Renewable
up, such as a 170MW PPA Electricity Support Scheme
between BayWa r.e. and (RESS) with tech-neutral
Statkraft, and a 660MW auctions due from mid-2019
PPA between Audax replacing the former REFiT
Following a large drop in More than 80 solar company Energía and Cox Energy. scheme. A new north-south
renewables investment in bankruptcies have been interconnector has been
2017, the UK is bouncing reported in the past year approved, supporting plans
back, with subsidy-free solar due to sharp cuts in feed-in
PV and onshore wind projects tariff (FiT) rates and extreme
for an extra 4.5GW by 2030.
Methodology
for merchant generation as competition. The Index was recalibrated in 2017, with all underlying
well as repowering of old wind datasets fully refreshed. To see a description of our
farms. methodology, please go to ey.com/recai.

Legend
Increased attractiveness compared with previous index
Decreased attractiveness compared with previous index

10 | recai | May 2018 May 2018 | recai | 11