New Energy encompasses the following four key focus areas:
- cleaner energy generation
- energy storage
- energy transmission and distribution (“smart grid”)
- energy efficiency
Cleaner energy generation covers all renewable categories: wind, solar, biomass, biogas, hydro, wave and geothermal as well as cleaner and more sustainable energy generation from industrial waste and/or heat such as cogeneration, and cleaner fossil fuel power technologies where increased efficiency and reduced emissions result, such as combined heat and power, “clean coal” or fuel cells. Clean Energy markets are at different stages of maturity but are invariably forecast to grow strongly. Overall, Clean Energy is the fastest growing segment of the energy industry both in relative and absolute terms. For instance, more wind power capacity is installed globally each year than any other conventional power technology. Wind power is expected to continue to grow globally at a minimum of 20% per annum through 2010, solar PV at approximately 30% per annum and biomass at approximately 15% per annum. Each market will present varying opportunities ranging from early stage start ups with proven technology to expansion capital investments and independent power producer transactions in the more mature markets to expansion capital opportunities into companies bringing new technologies or services to the market.