The renewable energy sector is experiencing significant growth, but recent tariffs imposed by the US threaten to disrupt its supply chain, says a recently published report by UK analytics firm GlobalData.

Tariffs on imported components such as solar panels, wind turbines and battery storage systems are expected to inflate consumer costs and hinder the momentum of clean energy initiatives. The uncertainty surrounding the duration and scope of these tariffs has created a cautious investment climate within the power sector, as companies hesitate to commit to long-term projects due to potential shifts in trade policy.

Despite these challenges, notable advancements are being made across various segments of the renewable energy industry, which are outlined in the GlobalData report.

In the wind power sector, the Nordex Group has secured contracts for the delivery and installation of wind turbines for two wind farms in France, along with a 49MW order in Germany.

Additionally, Innergex Renewable Energy and Migmawei Mawiomi Business Corporation have finalised financing for the construction of the 102MW Mesgig Ugjusn 2 wind project. Equinor and Polenergia have also reached financial closure on the Bałtyk 2 and Bałtyk 3 offshore wind projects, with a combined investment exceeding €6bn ($6.8bn).

Denmark has announced the launch of offshore wind tenders with a capacity of 3GW, sufficient to power approximately three million homes. Vestas has further strengthened its European manufacturing presence by signing a deal for a new blades factory in Poland and securing two firm orders in Germany for wind projects totalling 36MW.

In the solar power arena, SAEL Industries has obtained $132m in debt financing from the Asian Infrastructure Investment Bank and others for a solar project in India’s Andhra Pradesh.

Waaree Solar Americas has signed a 586MW module supply agreement with a leading US independent power producer, while Emmvee has expanded its solar module capacity to 6.6GW. A consortium comprising EDF Power Solutions and Korea Western Power Company has signed a joint development agreement for a 1.5GW solar project in Abu Dhabi.

The hydroelectric power sector is also witnessing growth, with NEEPCO awarding a contract to Patel Engineering for a 240MW hydropower project in Arunachal Pradesh. In the nuclear sector, Framatome and Czech partners secured funding to enhance the safety of light water reactors.