The Global Leadership Council (GLC) of the Global Energy Alliance for People and Planet (GEAPP) has announced the commitment of eleven nations to join the Battery Energy Storage Systems (BESS) Consortium.
Barbados, Belize, Egypt, Ghana, India, Kenya, Malawi, Mauritania, Mozambique, Nigeria, and Togo have solidified their commitment, with Indonesia showing significant interest in participation, GLC said at COP28.
The BESS Consortium, a collaborative effort spearheaded by these visionary countries, aims to secure an impressive 5 gigawatts (GW) of BESS commitments by the end of 2024. This endeavor is part of a larger ambition to reach an estimated 400 GW of renewable energy by 2030, effectively alleviating energy poverty and mitigating a gigaton of CO2 emissions.
Recognizing the pivotal role of Battery Energy Storage Systems in fortifying grids and accommodating variable renewable energy sources crucial for economic development, these nations are pioneering a movement towards cleaner and more reliable energy solutions. Moreover, the consortium’s initial 5 GW target serves as a foundational step towards achieving the broader goal by 2030, signaling a vital mechanism for expediting a just energy transition.
The launch of the BESS Consortium also witnessed Vietnam’s active participation, with Honorable Prime Minister Pham Minh Chinh affirming the country’s commitment to a seamless transition towards clean energy.
Backed by a coalition of resource partners such as the African Development Bank (AfDB), World Bank, Asian Development Bank (ADB), and other esteemed organizations, the BESS Consortium is poised to not only secure 5 GW of BESS commitments by 2024 but also deploy these systems by 2027.
The GLC initiatives, including the groundbreaking BESS Consortium, are already translating into tangible progress. Notably, in Malawi, the support provided by the Consortium to deploy and operate a 20MW BESS project is expected to significantly enhance power stability for 3 million people by 2030, positively impacting the lives of 450,000 individuals while preventing 20,000 tons of CO2 emissions.
In addition to securing commitments and deploying $1 billion in concessional finance, the Consortium aims to expedite project deployment, improve regulatory frameworks, foster a conducive market for BESS, and unlock both commercial and public financing.
The strides made by the Global Energy Alliance’s GLC initiatives, particularly the BESS Consortium, underscore a decisive and actionable commitment toward transforming global energy systems and addressing the pressing challenges of energy poverty and environmental sustainability.