Renewable power generation capacity will increase by 7 percent this year despite a 5-percent forecast decline in global energy demand, the International Energy Agency said in its Renewables 2020 report. The agency also said the use of biofuels in industrial activity and transportation will decline this year, but the increase in renewables use will be strong enough to offset it, with the net increase in renewable energy demand seen at 1 percent. Unsurprisingly, investor appetite for exposure to renewable energy is also growing, the IEA noted in its report. “From January to October 2020, auctioned renewable capacity was 15% higher than for the same period last year, a new record,” the IEA said. “At the same time, the shares of publicly listed renewable equipment manufacturers and project developers have been outperforming most major stock market indices and the overall energy sector.” The authority added that by October 2020, the […]