The World Energy Outlook 2024 from the International Energy Agency (IEA) projects a 40% growth in global energy demand by 2040 under current policies, with electricity demand increasing by 75% from 2023 (22,500 TWh) to 2040 (39,375 TWh). Developing nations, particularly in Asia, will drive over 70% of this growth, with China and India leading the charge. Urbanisation trends, with 62% of the global population living in cities by 2035 (rising to 70% by 2050), will further increase energy needs for infrastructure, sanitation, and services.

Renewable energy is set to dominate, with its share in global power generation rising from 30% in 2023 to 45% by 2040. Solar PV and wind are expected to account for nearly half of new electricity generation, overtaking coal as the primary source by 2035. Global investment in renewables reached $350 billion in 2024, with the European Union and the United States leading financial support, followed by China’s rapid expansion in renewable capacity.

Genera’s focus in the UK includes roof-mounted solar PV systems and financially viable ground-mounted assets. In Southern and Eastern Europe, we prioritise ground-mounted solar farms, while in India, East, and West Africa, we focus on solar and biogas solutions, leveraging sewage as a primary feedstock to improve sanitation and energy acces