As the environment is changing, energy companies are updating their plans and strategic goals.
The figure below presents the declarations of European power companies regarding capital expenditures and expansion, in the coming years, with respect to new generation capacity based on the RES assets.
In 2018, with 39.2 GW, Enel, an Italian company, had the highest installed RES capacity among the presented energy companies. In its strategic plans, it assumes allocating 38% of its capital expenditures in the period 2019–2021 for investments in renewable energy sources (it is approx. EUR 10.6 billion).
The second group, whose installed RES capacity was 32.6 GW in 2018, is EDF, a French company, which is planning to increase the installed capacity of its green assets to 50 GW by 2030.
The ENGiE Group, the second company operating in France, is planning to increase its capacity by 9 GW in 2019–2021 (from 24.8 GW in 2018 to 33.8 GW in 2021).
Vattenfall, a Swedish company, declares another 2.3 GW of installed RES capacity by 2020.
Endesa, a Spanish energy group, had 6.5 GW of installed capacity in renewable energy sources in 2018. Its plans include an increase in capacity in wind and photovoltaic assets by 1.9 GW by 2021. By 2050, the group would like to produce 100% of its electricity volume from renewable energy sources.
One of the German energy groups, E.On, is planning an increase, by approx. 4.1 GW, of installed capacity in wind (on-shore and off-shore) assets by 2020. In 2020, the company may have 9.4 GW of installed capacity in renewable energy sources, as compared to 2018, when it had 5.3 GW.
Another company operating on the German market, i.e. RWE, after the acquisition of new RES assets, which took place in 2019, updated its strategic directions and aspires to be the 3rd company in Europe in terms of RES. Therefore, it declared an expansion of its renewable energy generation fleet by 2–3 GW of installed capacity per year. Taking into account the declarations, it is estimated that RWE will have at least 26 GW of capacity in green assets in 2030.
Innogy is planning an additional 7 GW of RES capacity by 2024.
Another German energy group, EnBW, has declared an increase to approx. 5.6 GW of capacity in renewable assets by 2020.
In 2018, Uniper had 3.6 GW of installed capacity in renewable energy sources and is one of the companies that are not directly declaring an increase in the renewable sources capacity, but has announced that it will not invest in coal power plants.
A Czech company, CEZ, is planning to increase its assets by 0.4 GW by 2025, from 1.7 GW in 2018 to 2.1 GW of installed capacity.
The FORTUM Group is assuming an increase of the installed capacity in wind energy and photovoltaics in its plans.
On the domestic market, the PGE Group had the largest installed capacity in RES in 2018, i.e. 2.2 GW. The Group is seeking to ensure that, in 2030, its production of electricity from renewable energy sources should account for 25% of the national production of electricity from renewable energy sources, and therefore it has started to prepare investments in the construction of an off-shore wind farm on the Baltic Sea. PGE’s ambition is to achieve 2.5 GW of off-shore wind capacity by 2030, with a path to reach 1 GW in 2025. According to the new strategic plan, Enea intends to increase its installed RES capacity to 2.5 GW by 2030.
In the strategic directions update, the TAURON Group declared an increase in installed RES capacity by 2025 by an additional 900 MW in wind assets and 300 MW in photovoltaics, and is also considering an engagement in off-shore wind assets. By 2030, the expected RES installed capacity of the TAURON Group will be approx. 3 GW.