SOURCE: Black & VeatchDESCRIPTION:
OVERLAND PARK, Kan., November 11, 2020 /3BL Media/ – The drive for decarbonization in the power industry, coupled with technology advancements making large-scale solar and wind power complemented by battery storage more cost competitive, continues to propel growth in the global renewable energy market. The world’s power providers understand the need to thoughtfully invest in ways to rapidly integrate renewable energy in the mix on the power grid. It’s against that challenging backdrop that Black & Veatch – a global leader in power generation and delivery solutions – announces its appointment of Dave Hallowell as the leader of its global renewable energy business line.
Hallowell’s 28 years of experience, including leading the company’s telecommunications public networks business for the past six years, position him well for the challenges that such fast-moving transformation presents. Hallowell has been a program and project director, construction and operations manager, and a design engineer for projects in telecom and power.
“As more utilities and developers rethink their power generation mix and adapt to the economic and environmental merits of renewables combined with energy storage, Dave’s experience adds to our depth of expertise in renewables,” said Mario Azar, President of Black & Veatch’s power business.
Wood Mackenzie predicts the U.S. will add more than 113 gigawatts (GW) of solar additions from 2020 through 2025, with about 75 percent of those additions coming in the utility-scale market. Similarly, Wood Mackenzie forecasts the global solar market will add 774 GW in 2020 thru 2025.
Bloomberg New Energy Finance (BNEF) expects that 41 GW of onshore wind will be added in the U.S. from 2021 to 2025, up 33 percent from 2019’s forecast for the same period. Along with its U.S. outlook, BNEF also published its annual Southeast Asia renewables market outlook, with its 2020 forecast for capacity additions in coming years significantly higher than its 2019 forecast. BNEF now predicts five countries in Southeast Asia (Indonesia, Malaysia, Philippines, Thailand and Vietnam) will add 22 GW of renewables from 2020-2023.
According to Black & Veatch, utility Integrated Resource Plans (IRPs) also increasingly are incorporating storage in their long-range capacity additions.
The company’s recently released 2020 Strategic Directions: Electric Report, based on expert analyses of results from a survey of more than 600 industry stakeholders, found that nearly half of the respondents said they they’re investing much more or somewhat more into local renewables at least in the short-term, outpacing capital spending on such things as distribution, transmission and other DER. Looking out over the next half decade, the push for renewables is more striking. Eight of 10 respondents forecast that more of their investments in new generation capacity will be directed at solar arrays on land, followed closely by energy storage (79 percent).
- Globally, Black & Veatch has supported the development of more than 105 gigawatts (GW) of solar and wind energy and 2,500 megawatt hours (MWh) of battery energy storage systems.
- Black & Veatch’s support for offshore and onshore wind projects extends over 40 years and includes solutions covering development support through to delivery of major engineer, procure and construct contracts.
- The 2020 Engineering News-Record (ENR) Sourcebook, released in July 2020, ranks Black & Veatch’s power business No. 1 for solar power services.
- Solar Power World placed Black & Veatch as seventh of 407 installers on the magazine's 2020 “Top Solar Contractors” list, including fourth among solar EPC providers
- Click here for a high-resolution headshot of Dave Hallowell.
About Black & Veatch
Black & Veatch is an employee-owned engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people in over 100 countries by addressing the resilience and reliability of our world's most important infrastructure assets. Our revenues in 2019 were US$3.7 billion. Follow us on www.bv.com and on social media.
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KEYWORDS: Black & Veatch, decarbonization, power industry, electric utilities, solar power, wind power, battery storage, renewable energy, DER, distributed energy resources, sustainability, Power generation, energy storage