The Global Wind Energy Council (GWEC) said wind energy resources in Brazil, India, Mexico, the Philippines and South Africa could unlock economic growth under green recovery measures.
The GWEC report called Capturing Green Recovery Opportunities from Wind Power in Developing Economies has revealed job creation.
The transition to clean energy is a key priority for Indonesia’s G20 meet in Jakarta this week. Finance ministers will discuss sustainable finance under Indonesia’s G20 presidency.
“This report should serve as a rallying call for emerging economies to collectively act on accelerating renewable energy to power growth,” Ben Backwell, GWEC CEO, said.
“Policy commitments, investment in expansion of grid and transmission infrastructure, as well as simplifying the permitting schemes for renewable energy projects are the common recommendations across each country studied in this report.”
The total upside for green recovery measures across the five countries examined in the report include 2.23 million full-time equivalent jobs over a 25-year lifetime of wind projects, and nearly 20 GW of additional wind power installations – enough to power roughly 25 million homes each year from 2026 onward, and potentially save the equivalent of 714 million metric tons of CO2e emissions over wind farm lifetimes.
Brazil, for example, could create an extra 575,000 jobs over wind farm lifetimes if it opted for a green recovery over a business as usual approach. The country could add billions of gross value to the economy and power millions more homes with clean energy using this approach – all while seeing a more than 40 percent reduction in carbon emissions over that time.
India could save an extra 229 million metric tons of CO2e over the lifetime of a wind farm – around 25 years – while also creating more than a million green jobs.
Mexico could more than double its projected carbon emissions equivalent saved by replacing fossil fuel generation if it pursued a green recovery approach for wind energy. This could be transformative, generating nearly one-quarter of a million new jobs and adding $3.5 billion in gross value to the economy, over a wind farms lifetime.
In South Africa the coal to clean journey – kickstarted with an $8.5 billion financing package agreed at COP26 – could deliver an extra 250,000 jobs and more than $10 billion gross value added to the economy over 25 years if an ambitious green recovery is pursued. This would also deliver enormous decreases in carbon emissions equivalent, as well as save more than 50 million litres of water annually from 2026.
The Philippines could see more than $1.1 billion of gross value added to the economy, with more than 1,650 MW of wind installations completed under a more ambitious approach. Those installations would support a 70 percent increase in jobs as well as saving more than 65 million metric tons of carbon emissions equivalent.