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Global Wind Group Ramps Up Support For ‘Green

 

Global wind group ramps up support for ‘green recovery’

 

International renewables groups are pushing for COVID-19 economic stimulus packages to favor a green recovery.

 

“Six months. This is our time window now if we have any chance at decarbonizing our economy securing a future for our planet,” Ben Backwell, CEO of the global wind association GWEC, said in a press release. 

 

A transition to renewables power must be at the center of recovery stimulus, Backwell said, “otherwise we risk missing out on a once-in-a-lifetime opportunity to reset our economies and put the world on a more prosperous and sustainable path.”

 

GWEC is promoting the IEA’s new sustainable recovery report, which calls on governments to prioritize green economic recovery through support of wind and solar projects, in a dual aim to de-carbonize economies and create an estimated nine million jobs for installers, technicians and engineers, among other professions, over the next three years. 

 

For the energy sector, IEA’s vision would see stimulus efforts resulting in the addition of 130GW of combined wind and solar power coming online from 2021-2023, an increase of 40% in money spent on power grids globally. 

 

Other benefits would include lifetime extensions for conventional clean energy sources, such as older hydro and nuclear plants that would otherwise be phased out of service. 

 

But whereas there is cause for optimism given green recovery initiatives launched in China, Canada and elsewhere, Latin America as a region appears to be a laggard.  

 

In part, this owes to relatively small fiscal stimulus packages.

 

Among G20 nations, Mexico and Argentina have among the smallest stimulus packages to counter the impacts of COVID-19. 

 

Mexico’s US$26bn stimulus is eclipsed by Argentina’s stimulus of US$37bn even though its economy is more than twice as large. 

 

Recent policy measures introduced by the government of President Andrés Manuel López Obrador (AMLO) also risk having the effect of “dirtying” the country’s recovery. 

 

Since May, Mexican grid operator Cenace and energy regulator CRE have undertaken a series of moves to favor power generation from state utility CFE over renewables companies. 

 

The anti-renewables policies in Mexico are likely to “dampen investment in new wind energy capacity to 2024,” said Brian Gaylord, analyst at energy consultancy Wood Mackenzie.

 

Mexico, Central America and the Caribbean notched a record 1,830MW of new installed wind capacity in 2019, with Mexico accounting for 80%, according to Wood Mackenzie.

 

IEA’s sustainable recovery report is available here

 

Source:  https://www.bnamericas.com/en/news/global-wind-group-amps-up-support-for-green-recovery



Category/ies:Articles, Global Renewable Energy Article, Regional Article.
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