The Global Renewables Alliance has said that some 58 countries have pledged their support for the Global Energy Storage and Grids Pledge, an energy transition initiative launched at COP29.
The pledge sets out action-oriented goals for grids and storage, including the deployment of 1,500 GW of energy storage, a doubling of global grid investments, and the development of 25 million kilometres of grid infrastructure by 2030.
Countries including Brazil, Kenya, the USA, Ukraine, Pakistan, Morocco, Uruguay, Congo, Peru, Venezuela, Malaysia, Korea, Singapore, and New Zealand, along with numerous European countries and dozens of organisations, support the pledge.
Global energy transition
According to the Global Renewables Alliance, the pledge marks the first time that energy storage and grids have been formally recognised as key elements of the global green energy transition.
“Having grids and storage in the international spotlight for the first time is a monumental step forward,” commented Bruce Douglas, CEO of the Global Renewables Alliance. “It’s a sign that the world is recognising the critical role of flexibility in delivering energy security for future generations.
“The over 100 countries and organisations that have signed this pledge are setting the standard as leaders and champions of this vital agenda, and their commitment should inspire others to step up, endorse the pledge, and take decisive action to meet these targets.”
The role of finance
Despite this progress, which the Alliance says is a ‘significant step’ towards delivering the global commitment to tripling renewables, wider participation is needed to fully unlock the potential of renewable energy. Finance will play a key role in enabling developing countries to deliver on the targets, Douglas added.
“Mobilising public and concessional finance is crucial to unlocking private investment in the regions that hold the greatest potential and the largest needs,” he said. “Without this, the world risks falling short of its commitments and leaving developing economies behind.”
Elsewhere, Julia Souder, CEO of the Long Duration Energy Storage Council, emphasised the urgency of expanding storage capacity, noting that over 1 TW of long-duration energy storage will be needed by 2030 to ensure flexibility and reliability in global energy systems.
“This marks a monumental leap forward in our collective efforts to accelerate climate action,” she commented. “These countries are sending a clear signal of their commitment to harness the full potential of renewable energy, ensuring a future where energy systems are flexible, reliable, and able to meet the evolving demands of consumers worldwide.” Read more here.
