Argentina, Colombia, Egypt, Indonesia and Morocco could add 3500MW of wind energy capacity in the next five years, according to a new Global Wind Energy Council (GWEC) report.
The five developing countries could generate an extra US$12.5bn for their economies and create 130,000 FTE work-years, GWEC said.
“Capturing economic opportunities from wind power in developing economies”, produced in collaboration with BVG Associates, focuses on the five countries with significant untapped wind energy resource that could unlock rapid economic growth under green recovery measures.
This report demonstrates the impact accelerated deployment of wind projects can have and provides an insight into how countries can tackle common barriers of clear policy, transmission and grids and permitting frameworks to deliver real action, GWEC argued.
Ben Backwell, GWEC chief executive (pictured) said: “The energy transition is an opportunity for countries in every region in the world to rebuild and grow their economies on a foundation of clean energy, green jobs and secure power.
“This report sets out how making clear policy commitments, developing infrastructure and streamlining permitting rules will unlock renewable potential and large amounts of investment in these five countries.
“Pro-active policy-making and working in coordination with the industry and investors can deliver accelerated deployment of wind and renewable energy, which means new jobs, new high tech manufacturing, and accelerated growth for developing economies.
“The time for action is now, and countries must set out policies that match their climate and energy ambitions.
“This report sets out how policymakers can overcome common hurdles to take that action.”
Associate director at BVG Associates Mike Blanch added: “This analysis shows the considerable ongoing benefits arising from accelerating wind project deployment in Argentina, Colombia, Egypt, Indonesia, and Morocco.
“On offer is a pathway for greater economic growth while simultaneously improving energy security and resilience.”