Virtually all construction of new HVDC systems is occurring in Europe, India,
China and North America. Growth in each of these regions is being driven by
different forces: while rapid economic growth and the drive to complete national
electrification programs are fueling HVDC systems in China and India, Europe
will see large amounts of renewable generation, along with the interconnection
of many national grids into a unified continent-wide system. In North America,
meanwhile, three-quarters of planned future investment in HVDC comes from
"merchant" transmission companies, due to the balkanized regulatory framework of
the region.