Developing countries have been urged to unlock the potential of wind energy over 2022-2026 in a new report from the Global Wind Energy Council (GWEC).
The ‘Capturing Green Recovery Opportunities from Wind Power in Developing Economies’ report, written in collaboration with BVG Associates, noted the “vast and largely untapped” potential of wind power in developing countries.
The report focuses on five countries – Brazil, India, Mexico, the Philippines and South Africa – each of which face particular challenges due to COVID-19.
All five have significant untapped wind energy resource that could unlock rapid economic growth under green recovery measures.
The case studies quantify a series of impacts which would result from pursuing a green recovery strategy, where public policy shifts towards the clean energy transition to accelerate deployment of wind projects over the next five years.
This approach would not only support countries on their progress to meeting energy and climate coals, but would enable them to realise a range of socioeconomic benefits from long-term job creation to cleaner air and water conservation, the report said.
It also shows the importance of clear vision and policy commitment to mobilise private investment in wind energy, and provides tailored policy and regulatory recommendations for each country.
As finance ministers and central bank governors from the G20 meet in Jakarta this week to discuss sustainable finance under Indonesia’s G20 presidency, this report should serve as a rallying call for emerging economies to collectively act on accelerating renewable energy to power growth.
GWEC chief executive Ben Backwell said: “The transition to clean energy is a key priority for Indonesia’s G20 presidency this year, and this report shows the scale of opportunities at stake: a transformed world delivering jobs for people, value for economies and zero emissions, helping us all reach net zero.
“Policy commitments, investment in expansion of grid and transmission infrastructure, as well as simplifying the permitting schemes for renewable energy projects are the common recommendations across each country studied in this report.
“Addressing these barriers proactively, in coordination with the wind energy industry and other relevant stakeholders, can support accelerated deployment of wind energy and a green recovery in emerging economies.
“The time for action is now, and governments need to use forums such as the G20 to turn promises, targets and ambitions into decisive interventions that provide the foundations for local communities and the private sector to make the energy transition a reality.”
BVG Associates, associate director Mike Blanch said: “Our work with GWEC shows how wind energy can deliver a green economic recovery and cheap energy.
“The report includes recommendations on how to strengthen policy, transmission and permitting to create jobs and establish local supply chains.”
The total upside for green recovery measures across the five countries examined in the report include 2.23 million full-time equivalent jobs over a 25-year lifetime of wind projects, and nearly 20GW of additional wind power installations – enough to power roughly 25 million homes each year from 2026 onward, and potentially save the equivalent of 714 million metric tons of CO2 emissions over wind farm lifetimes.