Clean Energy Projects Dominate In Nine BRICS Countries: Report

Clean Energy Projects Dominate Within Nine BRICS Country: Report

BRICS is set to hold its latest summit in Russia, marking the 16th annual summit for the association. The summit will take place from the 22nd to the 24th of October this year to discuss the burgeoning economic and global challenges faced by the countries. The summit also sets the stage to evaluate the changes in the renewable energy space within these nations, Global Energy Monitor released a report highlighting that the growth of BRICS countries—namely Brazil, Russia, India, China, and South Africa—is expected to more than double if the annual renewable additions seen in 2023 continue through 2030.

The report shared details on the power capacity under construction, measured in gigawatts (GW), for each country. According to the report, the wind and utility-scale solar capacity in BRICS nations outnumbers power projects fueled by coal, oil, and gas by two to one. The numbers would probably be even more impressive but for Russia’s relatively cool reception to solar and wind energy.

The study highlighted, “Despite attracting support from more than 130 countries worldwide to date, the only signatories from the BRICS group are Brazil, Ethiopia, and the UAE.” The report spotlighted China’s commitment to tripling renewable energy. The report stated, “China subsequently reiterated its commitment to the tripling goal along with the United States in the ‘Sunnylands Statement.’ Furthermore, the climate and energy plans of India, South Africa, and Egypt all envisage renewable capacity that is close to or exceeding three times the current level. Thus, the role of most BRICS countries in the global tripling goal is implicit despite no formal support across the bloc.”

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The report remains optimistic about renewable energy growth undertaken by the BRICS countries, which recorded 331 GW of renewable energy capacity additions by 2023. The report added, “This level of annual capacity additions is similar to the amount consistent with tripling for the coming years, estimated at 308 GW in 2024 and 357 GW in 2025 for BRICS countries. Most of the recent capacity additions in BRICS countries are from wind and solar PV technologies, making up 98% of the 2023 capacity additions, or 326 GW. If annual wind and solar additions were to continue at this rate for the next seven years, out to 2030, the BRICS’ renewables fleet would grow to 4,200 GW of installed capacity, or 77% of the tripling value for the bloc.”

BRICS’ Non-Fossil-Fueled Capacity Under Construction Exceeds Coal, Oil, And Gas

The report identified a shift towards renewable energy capacity addition, mentioning, “All BRICS countries are building fossil-fueled power capacity, with 287 GW currently in the construction phase across the group. However, the non-fossil-fueled capacity under construction is more than double this figure, at 629 GW.”

The report added, “For comparison, the ratio of non-fossil to fossil capacity under construction in both the G7 and the EU is three to one. A weighting towards non-fossil capacity additions has also been observed historically in the BRICS group, with the share of fossil-powered technologies in total power capacity falling from a peak value of around 70% in 2007 to 50% last year. Should all power projects in the BRICS group get built, the fossil-powered share would drop below 50% for the first time.”

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Power Capacity Addition