Capturing Economic Opportunities from Wind Power in Developing Economies
An increasing number of countries are recognising the key role of wind energy in supporting a global clean energy transition, in energy security, and achieving stable energy prices. Given the urgency of the transition, it is vital that the deployment of wind energy does not face unnecessary delays due to resolvable challenges, such as bureaucratic permitting procedures and market barriers to investment.
Wind energy projects generate significant amounts of capital expenditure, create jobs and other economic benefits for local economies through their construction and operation.
Five developing economies in particular were selected to evaluate the benefits of wind energy implementation: Argentina, Colombia, Indonesia, Egypt and Morocco.
Accelerated deployment of wind projects will not only supports climate action, but help countries to realise a range of benefits from job creation to cleaner air. The study identifies common barriers facing wind energy deployment in developing economies and provides recommendations on how these barriers can be overcome.
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Key messages from the report
- In just five years, five developing countries could add 3.5 GW of capacity, an extra US$12.5 bn for their economies and create 130,000 FTE work-years. The five countries – Argentina, Colombia, Egypt, Indonesia and Morocco, would also enjoy a virtuous cycle that continues to deliver benefits after this initial period.
- Wind energy can be an enormously powerful tool for developing countries who need to balance economic growth with energy security, and also wish to deliver on their climate goals.
- This report demonstrates the impact accelerated deployment of wind projects can have and provides an insight into how countries can tackle common barriers of clear policy, transmission and grids and permitting frameworks to deliver real action.