Members of the Utilities for Net Zero Alliance (UNEZA) have pledged to collectively invest over $116 billion per year in clean energy generation and grid infrastructure worldwide in the coming years.
Nearly half of this planned investment will focus on enhancing transmission and distribution networks. The alliance’s goal is to expand and modernize grid infrastructure while addressing the rising demand for equipment and materials. To support this, UNEZA has developed an action plan aimed at overcoming barriers to scaling up investments in these critical areas.
In addition to their financial commitment, UNEZA members have released policy recommendations to address supply chain constraints affecting renewable energy sectors such as wind, solar, hydro, grid systems, and energy storage.
These recommendations urge policymakers to:
- Standardize equipment regulations across regions and jurisdictions;
- Facilitate the free flow of essential supplies;
- Implement forward-thinking, integrated long-term system planning;
- Encourage policy and regulatory innovations for business models; and
- Ensure a robust pipeline of skilled professionals.
H.E. Razan Al Mubarak, the UN Climate Change High-Level Champion for COP28, emphasized the importance of collective action, stating, “As we push forward towards net-zero targets, UNEZA illustrates the power of collaboration to achieve the 2030 Climate Solutions and the UAE’s goal of tripling renewable capacity and doubling energy efficiency by 2030.”
Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA), added, “Our top priority is to build and upgrade the grids required to meet the global goal of tripling renewable energy capacity by 2030. IRENA estimates that annual infrastructure investments of $720 billion will be needed through 2030, with a significant portion expected from the private sector.”
In April, during the 14th IRENA Assembly, UNEZA members adopted the UNEZA Roadmap to 2030. This plan targets 849 GW of renewable energy capacity—representing a 2.6-fold increase from 2023 levels.
Launched at COP28 in 2023, UNEZA comprises 32 of the world’s largest utilities and energy companies, including Adani Green Energy, Hitachi Energy, and TAQA.
