Guterres urges roughly 50% rise in global grid investment by 2030

UN Secretary-General António Guterres called on governments to make electricity grids a priority and increase worldwide investment in them by around 50 per cent by 2030, addressing a COP31 event in Antalya, Türkiye, on November 12.

In remarks published by UN Press, he urged governments to draw up credible long-term plans, update regulation, reduce administrative barriers and accelerate priority grid projects. He did not specify a baseline for the proposed investment increase.

Guterres said about 3,000 gigawatts of renewable energy and battery projects at advanced stages were waiting in queues. He contrasted the year needed to build a solar farm with the planning, permitting and construction of a transmission line, which can take as long as 15 years.

The longer-term task is larger still: he said more than 80 million kilometres of power lines need to be constructed or upgraded by 2040. He also called for more resilient, smarter electricity networks and connections across national borders.

Guterres said clean energy now attracts two dollars for each dollar invested in fossil fuels, but described the transition as too slow and unequal.

The Global Grids Accelerator, which he said began in September, brings together the UN system, governments, multilateral development banks and private finance. Its work is starting in Africa and South-East Asia.

In Africa, Guterres said 600 million people still lack electricity. He said the accelerator supports Mission 300 and the African Union’s Continental Master Plan.

For South-East Asia, he presented the ASEAN Power Grid as a way to improve energy security and independence. He said the Middle East supplies 60 per cent of the region’s crude oil imports.

Guterres asked donors, multilateral development banks and development finance institutions to provide more direct funding and help prepare projects. His proposals also included guarantees and arrangements to share risk, alongside financing to strengthen utilities and draw in private investors.

He urged private financiers and industry to take part early in project development, work with governments and public lenders to remove investment barriers, and contribute funding, technology and technical expertise.