Developing greater capacity, ensuring security and delivering cleaner energy is a critical global challenge. New technologies need to demonstrate commercial viability, while existing fleets of power stations need to maintain or improve efficiency and output.
Currently 5,000 GW of power is installed worldwide and the forecast for overall investment in global power and utilities in the next 15 years is over US$15,000bn. Investment is increasingly focused on renewable sources of power to help combat climate change.
In developed markets the key challenges are ageing assets, a desire to switch from fossil fuels and a focus on value for money. In developing markets, securing funding is the primary issue but low emission strategies are also a priority.