SHANGHAI: China’s vast clean-energy industry has spearheaded a BRICS solar-power boom, with the bloc accounting for more than half of global generation last year, according to a new report.
Most BRICS countries remain major fossil-fuel producers, but the group together produced 51% of the world’s solar energy last year – up from 15% a decade earlier, energy research firm Ember said in the report.
China accounted for the lion’s share, and alone produced 39%, but India made up 6.3% and Brazil totalled 3.5%.
The bloc – which emerged from a term coined to capture the economic potential of Brazil, Russia, India, China and later South Africa – has grown into an political forum to rival the G7 and others.
Iran, Egypt, Ethiopia, the United Arab Emirates and Indonesia are now members, with several partner states. Saudi Arabia has been invited, but has yet to take a final decision.
China, India and Brazil have emerged as clean-energy powerhouses, each claiming a top-five rank globally in solar generation last year, according to Ember. And that growth is continuing.
China’s solar output increased 42% over the first four months of the year, while India and Brazil both notched up rises of more than 30%.
China is also making the most of the combination between its technological expertise and tighter ties with the group, exporting US$9.4bil worth of solar cells and panels to other BRICS members since the start of last year, according to BloombergNEF data.
Still, clean-energy leadership from founding members isn’t trickling down to everyone – even with China’s overseas investment clout.
Indonesia and newest partner countries including Kazakhstan, Nigeria and Malaysia are currently building 25 gigawatts of new fossil fuel capacity, compared to only 10 gigawatts of clean power, researchers at Global Energy Monitor said in a report.
More than 60% of that total under construction involved Chinese companies, as either developers or financiers.
The trade truce between Washington and Beijing may be holding for now, but China is increasingly wary about what’s happening elsewhere: US efforts to forge deals that could isolate Chinese firms from global supply chains.
Enterprise Products Partners said the US government has removed licence requirements for shipping ethane to China, clearing the way for deliveries to the country’s ports without additional approvals. — Bloomberg
