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News Release
General Motors to hit 5 million electric vehicle sales by 2030
- 14 July 2020
General Motors (GM) has set an annual target for 1 million electric vehicle (EV) sales globally by the mid-2020s. Although the company will only meet half of that target by 2026, it is expected to hit 5 million in cumulative EV sales by 2030 according to new research from Wood Mackenzie.
News Release
Over $13 billion of wind turbine capacity ordered in Q1 2020
- 08 July 2020
The first quarter of 2020 saw nearly 14 GW of wind turbine capacity ordered globally. This is the second-highest first quarter on record and equates to an estimated $13.4 billion, according to new analysis from Wood Mackenzie.
News Release
Sunrun-Vivint Solar deal represents largest consolidation in residential solar history
- 07 July 2020
Sunrun has agreed to acquire Vivint Solar in an all-stock transaction. The deal is valued at $3.2 billion including debt.
News Release
What does the pathway to a net-zero economy look like for miners?
- 06 July 2020
Global emissions must reach net-zero by the second half of the century to keep global temperature rises below 2°C. Emissions from metals production will need to halve over the next 20 years in order to hit this target, according to Wood Mackenzie.
Comment
Shell's write-down of Australian assets not a surprise
- 01 July 2020
It’s no surprise to see Shell writing down the value of its assets, in line with the new post-pandemic energy demand outlook. In fact, we’ve revised the value of oil and gas assets in Asia Pacific by US$200 billion as a result of a lower oil price outlook.
Comment
BP sells petrochemicals business to INEOS in US$5bn deal
- 29 June 2020
Steve Jenkins, vice president of Wood Mackenzie’s petrochemicals team, comments on this morning’s announcement from BP that it is selling its petrochemicals business to INEOS in a US$5 billion deal.
News Release
Argentina weighs new price subsidy, but freezes gas tariffs
- 25 June 2020
Gas pricing and market regulation are again under discussion in Argentina. The coronavirus pandemic has weakened an already vulnerable economy, with the impact felt in the gas market. To maintain low gas prices for end-users, the new administration has imposed a tariff freeze until the end of 2020.
News Release
US solar PV system costs falling faster than anticipated
- 24 June 2020
Solar PV system costs in the US are falling faster than anticipated across all market segments, primarily driven by module price reduction, according to new research from Wood Mackenzie.
News Release
Annual solar repairs and maintenance spend to grow to $9 billion by 2025
- 22 June 2020
Solar power systems nearing inverter end of life currently account for 5% of the global PV market. This number will grow to 16% - or 227GWDC of solar systems - by 2025, according to new research by Wood Mackenzie.
Comment
Chevron to sell stake in North West Shelf LNG
- 18 June 2020
Chevron continuing to high-grade its portfolio and putting its 16.7% stake in the NWS up for sale makes a lot of sense.
News Release
Subsidy cuts could slash Chinese wind turbine OEMs’ margins by half
- 18 June 2020
China’s wind turbine original equipment manufacturers (OEMs) could have their gross profit margins halved due to subsidy cuts, says Wood Mackenzie.
News Release
Australia’s energy storage capacity more than doubles to 1.2 GWh in 2020
- 17 June 2020
According to new research from Wood Mackenzie, Australia is set to add 1.2 gigawatt-hour (GWh) of energy storage capacity in 2020, more than double the 499 MWh installed in 2019. This takes the country’s cumulative storage capacity at 2.7 GWh this year.
News Release
Nickel sulphate supply to peak in 2027 as EV sector-driven demand accelerates
- 08 June 2020
Nickel in sulphate production is expected to rise from 211 kilo-tonnes (Kt) in 2019 to its peak at 450 Kt in 2027, while demand driven by the electric vehicle (EV) sector continues to accelerate, reaching approximately 800 Kt by 2035, says Wood Mackenzie.
News Release
Power system flexibility key to Europe's net-zero targets
- 03 June 2020
The success of Europe’s transition to net-zero emissions by 2050 will hinge on the flexibility of its power system.
News Release
US energy storage market sees strong first quarter despite coronavirus
- 02 June 2020
The United States energy storage sector saw a strong first quarter, with residential storage setting another record while the non-residential market had its third-strongest quarter on record.
News Release
Global appetite for plastics key to China’s polyolefins demand growth in 2020
- 28 May 2020
Much of China’s polyolefins demand growth in 2020 will depend on global appetite for plastic end-products, says Wood Mackenzie.
Comment
What does China's thermal coal import restriction mean for Australian producers?
- 22 May 2020
Rumours of a ban on Australian thermal coal to China have surfaced in the thermal coal market this week.
Comment
China's Two Sessions reiterates commitment to pollution control
- 22 May 2020
The topic of environmental protection continues to feature heavily in the Two Sessions today. Wood Mackenzie experts share some initial thoughts.
News Release
UK gas market faces Covid-19 deadlock
- 21 May 2020
The UK gas balance has reached a deadlock for the summer. Resilient UK production, Norwegian imports and baseload LNG imports are overwhelming the market with supply. And with lockdown placing huge pressure on electricity and fuel markets, demand will be weak throughout the summer.
News Release
Vestas breaks annual wind turbine installation record
- 11 May 2020
Vestas became the first wind turbine manufacturer to install more than 10 GW of wind capacity in a single year (2019), according to new analysis from Wood Mackenzie.
News Release
European olefins production could recover in 2020 despite coronavirus
- 30 April 2020
Europe saw a 20-year low in olefins production in 2019. Despite the coronavirus hitting demand, 2020 could show a recovery in production.
News Release
Grid congestion chokes renewables investments in Eastern Australia
- 30 April 2020
Australia’s renewables project pipeline in the National Electricity Market (NEM) remains massive at 67 gigawatts (GW) capacity (6GW under construction and 61GW in announced projects), but the current conversion rate to firm projects is low due to grid congestion, says Wood Mackenzie.
News Release
150 GW of renewables projects in Asia Pacific at risk in a coronavirus-led recession
- 22 April 2020
Wood Mackenzie’s latest research shows that up to 150 gigawatts (GW) of wind and solar projects across the Asia Pacific could be delayed or cancelled over the next five years (2020 – 2024), if the coronavirus-led recession extends beyond 2020.
News Release
Ukraine may hold key to Europe’s gas storage crunch
- 16 April 2020
European gas storage is almost full to the brim – and with the mild weather, coronavirus lockdowns hitting demand and an over-supplied market, levels are not likely to drop soon. New analysis from natural resources consultancy Wood Mackenzie suggests October may prove critical for the market – and highlights a potential solution to the storage crunch.
Comment
Shell 'to be net-zero company by 2050'
- 16 April 2020
Commenting after Shell announced its intention to become net-zero company by 2050, Luke Parker, vice president, corporate analysis, at Wood Mackenzie, said: “This is an evolution of the net carbon footprint ambition that Shell unveiled in November 2017.
Comment
South Korea's metcoal demand to fall modestly amidst coronavirus outbreak
- 15 April 2020
South Korea's hot metal production will decline by 4.2 Mt or almost 10% in 2020. There is of course a risk that production decline would be greater, if containment of the virus is unsuccessful.
News Release
India’s bulks supply chain takes a hit during lockdown
- 08 April 2020
India is under a three-week lockdown from 25 March to contain the spread of the coronavirus outbreak. Businesses are shut, and the supply chain is disrupted. Industries are either closed or operating at sub-optimal utilisation.
News Release
Coronavirus restrictions set to hit US utility-scale solar projects
- 01 April 2020
The coronavirus pandemic is likely to have a material impact on utility-scale solar installations in the US this year, and perhaps even into 2021. In its Coronavirus: US Solar PV Supply Chain and Utility-Scale Market Risk report, Wood Mackenzie says that, in a best-case scenario, the market could see up to four weeks of supply delays affecting a few hundred MWs of modules and inverters. This, combined with construction disruptions, could translate into as much as 2 GWdc of project development delays in 2020.
News Release
Global wind power capacity to grow by 112% over next 10 years
- 26 March 2020
Global wind power capacity additions are expected to sit at an annual average of 77GW from 2020 to 2029, according to Wood Mackenzie.
Comment
UK Budget - new plastics packaging tax
- 11 March 2020
The UK currently recovers or recycles just under 50% of plastics packaging, making it a middling performer in European terms

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