The latest estimates indicate that more than half of the BRICS nations’ total power capacity will be generated by renewable resources by the end of 2024.
Data from the Global Energy Monitor’s (GEM) Global Integrated Power Tracker, which tracks power station and facility unit capacity, status, ownership, fuel type and more, also shows that new wind and utility-scale solar capacity projects in BRICS countries outnumber fossil fuel developments by two to one.
BRICS is an intergovernmental organization founded by Brazil, Russia, India, and China in 2009. It has since expanded to include South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates. According to GEM, the bloc accounts for 46% of the world population, 38% of GDP, and 48% of carbon dioxide emissions.
China is the bloc’s clear renewable energy leader – the share of fossil fuels in its energy mix has fallen by double the amount of the other BRICS countries in the last five years. Energy prices also recently went negative in parts of the country, owing to the surge in wind and solar power being added to the grid.
“The BRICS bloc is at a watershed moment,” says James Norman, Project Manager for the Global Integrated Power Tracker at GEM. “The clean energy transition really is happening everywhere.”
