A new report from the Global Wind Energy Council (GWEC) highlights the enormous potential of embracing the potential of wind energy. In just five years, five developing countries could add 3.5 GW of capacity, an extra US$12.5 bn for their economies and create 130,000 FTE work-years. The five countries – Argentina, Colombia, Egypt, Indonesia and Morocco, would also enjoy a virtuous cycle that continues to deliver benefits after this initial period.
‘Capturing economic opportunities from wind power in developing economies’ produced in collaboration with BVG Associates focused on five developing countries with significant untapped wind energy resource that could unlock rapid economic growth under green recovery measures.
Wind energy can be an enormously powerful tool for developing countries who need to balance economic growth with energy security, and also wish to deliver on their climate goals. 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.
Ben Backwell, GWEC CEO, 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.”
Mike Blanch, Associate Director, BVGA Associates, said: “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.”
Notes:
Argentina could, for example, see a 64,000 more jobs – a 57% increase in FTE jobs – and more than US$1 bn extra gross value created – a 45% upside to the economy with a 31% increase in new wind installations between 2023 and 2027.
Colombia increasing wind installations by 44% would deliver almost 150,000 new FTE jobs – and enormous 77% increase – and an extra US$3 bn gross value added to the economy – a 65% increase.
Egypt’s already ambitious plans could see even more upside, with an accelerated approach delivering 45% more wind installations, representing an extra 1.15 GW, an extra 164,000 FTE jobs and potentially more than US$2 bn for the economy.
Indonesia has more modest ambitions, but an acceleration could deliver an extra 115 MW of green electricity, which would bring with it 50% more jobs, to create a sector employing more than 50,000 people.
Morocco’s enormous potential means it could add an extra 638 Mw of capacity in an accelerated scenario, which would translate to another 75,000 jobs and more than $1bn extra gross value added to the economy.
