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Renewable Power Growth Seen Slowing Next Year on Supply-Chain Woes

Record capacity gains will stabilize as raw material costs rise, the IEA says

Wind turbine blades at the Siemens Gamesa Renewable Energy SA plant at the Port of Le Havre in Le Havre, France. 

Wind turbine blades at the Siemens Gamesa Renewable Energy SA plant at the Port of Le Havre in Le Havre, France. 

Photographer: Nathan Laine/Bloomberg

After a decade of accelerating growth, the expansion in global renewable power is expected to slow slightly next year due to supply-chain bottlenecks.

The forecast from the International Energy Agency underscores the far-reaching impact of the rising cost of raw materials. The European Union in particular wants to urgently boost clean energy as it races to diversify its fuel sources following Russia’s invasion of Ukraine.