The worldwide energy crisis fuelled by Russia’s invasion of Ukraine has served to accelerate the build-out of renewables plant to meet roiling market demand in the EU, with wind and solar producing a record 23% of the bloc’s supply and at a stroke overtaking nuclear for the first time as Europe’s largest power source, according to Bloomberg Intelligence.

Renewables are set to become Europe’s fastest-growing power plant fleet via solar deployment forecast to expand 45% and wind 15% by next year, already expanding to installed bases of 247GW and 221GW, respectively, in 2023, as the sector overtakes atomic energy at a growth rate of 14% that translates to a power table-topping 72TWh of annual output, said the analyst group.