Page 248 - BWM March 2013

248 | Business World Magazine | March 2013
government policy, has driven significant
cost reduction, technology improvement
and scale-up of the renewable energy indus-
try. Over the last five years, 35% of all new
power production has come from renewable
energy generation.
At the same time, developments in natu-
ral gas extraction present game-changing op-
portunities. Stringent environmental stan-
dards are raising performance requirements.
The central generation fleet is aging and the
transmission/distribution systems require
expansion and upgrade. The broadening fuel
portfolio and need for extraordinary capital
investments are occurring even as techno-
logical innovations, regional differences in
resource availability, shifting customer rela-
tions and usage patterns, emerging financ-