The 2023 United Nations Climate Change Conference (COP28), being hosted in Dubai, United Arab Emirates, saw the addition of 11 new countries to the battery energy storage systems (BESS) consortium, including Egypt, Kenya, and India. In addition, Barbados, Belize, Ghana, Nigeria, Malawi, Mauritania, Mozambique, and Togo are joining. The Global Leadership Council of the Global Energy Alliance for People and Planet made this announcement.
By the end of 2025, the countries aim to achieve 5 GW of BESS through the consortium. These systems are scheduled to be operational by the end of 2027. The consortium’s initial 5 GW target will serve as a road map to a longer-term ambition of 90 GW of energy storage which is necessary in order to meet the 2030 goal of 400 GW of renewable energy.
In addition, the consortium pledged to raise $1 billion in concessional funding, accelerate project implementation, improve the regulatory landscape, build a market for BESS, and make public and commercial financing available. The African Development Bank, Agence Française de Développement, Asian Development Bank, GEAPP, Inter-American Development Bank, German Agency for International Co-operation, and World Bank are some of the consortium’s resource partners.
The COP28 Presidency, Africa50, AMEA Power, Infinity Power, Masdar, the National Renewable Energy Laboratory, Net Zero World, RMI, and Sustainable Energy for All are some of the other partners. It is anticipated that more nations and partners will join. Indonesia has indicated a strong interest in joining, and Vietnam committed to switching to clean energy during the consortium’s founding. The consortium’s participating countries, utilities, and resource partners will identify and co-develop investment packages to support BESS projects.
