Key drivers for the renewable energy sector growth are the declining oil reserves, global warming issues, energy security risk due to sensitive geopolitical stability and the increasing demand with growth of population according to a leading international strategy consultancy.

Renewables are the fastest-growing source of world energy.  These include:

Wind farms (Onshore & Offshore)

Wave Power

Hydroelectric Power

Photo-voltaic (Solar) Power

Solar Thermal (Solar Concentrator) Power

Thermal Wellhead Energy (Energy form the earth’s core)

Wood Biomass Plants

With consumption increasing by 3.0 percent per year., renewable energy is anticipated to grow to become the dominant  energy source for world electricity generation by 2020.

Already 14 per cent of global energy supply is accounted for by renewables.  Longer term (from 2012 to 2020), alternative energy supply is expected to grow at 7.5 per cent annually.

Meeting this demand will mean the need for greater investment in development projects over the coming years, and expertise required to deal with the various CAR and EAR aspects of the contracts.