Call for global grid development targets by COP29

The Green Grids Initiative has issued a call for national governments to agree to targets for major grid infrastructure development, ideally by COP29 in November 2024.

Endorsing the COP29 call to reach $700 billion in grid infrastructure investments by 2030 and to add or upgrade over 80 million km of transmission and distribution lines by 2040, the Green Grids Initiative is calling on national governments to agree to global grid targets for 2030 and beyond.

Governments should start developing grid plans now and should integrate their targets for 2030, 2035 and 2040 in their updated ‘nationally determined contributions’ to meeting the Paris Agreement due in February 2025.

In a consultation paper, which also suggests some possible grid development metrics to measure progress, the GGI states that “immediate action” is essential to stay on track to the 1.5°C target with four priorities to ensure progress.

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These are modernising the grid infrastructure for increased renewable capacity, implementing effective demand side management strategies, aligning energy policies with climate goals in planning and mobilising financing for grid expansion and modernisation.

“Immediate action in these areas will not only position countries to meet their 2040 targets, but also unlock significant economic, social, and environmental benefits well before 2030,” the document says.

Referencing the COP28 pledge to triple the installed renewable capacity to reach 11TW by 2030, the document highlights the key enabling role of the grids to meet this target and IRENA’s recommendation that grid investments are made 3-5 years ahead of renewables investments to reduce overall system costs and congestion.

Proposals from the GGI for governments are the extension of grid planning horizons and the updating of transmission expansion plans at least every two years.

There is a need for de-risking mechanisms for investments in emerging market and developing economies, planning and permitting reforms and investment in smart grids.

International collaboration on cross-border interconnection also is crucial for cost-efficient renewable deployment and enhanced energy security, as is the strengthening of supply chains and a diversified focus on developing skills.

“By fostering greater international cooperation, we lay the groundwork for a truly global effort to modernise electricity grids, ensuring that no nation is left behind in the energy transition. This collective approach not only amplifies the impact of individual national efforts but also sets the stage for more ambitious and achievable global targets,” the document concludes.

The Green Grids Initiative was launched at COP26 with the aim to accelerate the construction of the new infrastructure needed for a world powered by renewable energy.

Its secretariat includes the Global Renewables Alliance, the Climate Compatible Growth programme and Lucetia Group, with support from the UK government.