SOURCE / GT VOICE
GT Voice: BRICS’ green devt offers new path for global energy transition
Published: Oct 22, 2024 11:54 PM
Illustration: Liu Xidan/GT

Illustration: Liu Xidan/GT

The concerted efforts and progress made by BRICS countries in transitioning to green energy not only help mitigate global climate change but also serve as an inspiring example for other developing nations, showcasing an approach to energy development that diverges from old Western practices.

The share of fossil fuel in BRICS countries' power capacity is expected to drop below 50 percent for the first time this year, the South China Morning Post reported on Tuesday. BRICS countries are expected to bring online a combined 72 gigawatts of fossil-fuel generating capacity this year, compared with 190 gigawatts of non-fossil capacity added by China, India and Brazil alone so far, according to the article, citing a report released on Tuesday by Global Energy Monitor, a San Francisco-based non-profit. 

This signals an important milestone in the clean energy transition for the bloc, which not only shows that the BRICS countries have taken solid steps on the road to the green energy transition, but also suggests that they will not follow the old development path of Western countries that relied on fossil fuels. Instead, they will explore a new energy development path that aligns with their own national conditions and the global sustainable development goals.

As representatives of emerging markets and developing countries, the BRICS nations are experiencing rapid economic growth accompanied by a significant demand for energy. However, they face multiple challenges, including global climate change, energy supply security and environmental pollution, which make it basically impossible for them to follow the fossil fuel-dependent development model that some Western nations employed in the past. This is also why BRICS nations now need to pursue a greener and low-carbon development path tailored to their unique national conditions through cooperation and innovation.

As a member of the BRICS nations, China has made significant strides in renewable energy, achieving substantial increases in installed capacity alongside remarkable advancements in technology and cost-effectiveness. 

China's success serves as a valuable reference for other BRICS countries, helping lower technological costs. Nations such as India, Brazil, Russia and South Africa have also implemented policies to promote the development of renewable energy, thereby accelerating the development of renewable energy projects.

The technical support and shared demands for the energy transition, along with common challenges related to energy security, environmental protection and economic development, create a strong basis for cooperation among BRICS countries in the realm of new energy. In this context, collaboration on the energy transition and green low-carbon initiatives among BRICS nations is becoming increasingly close, resulting in a number of cooperative projects.

Take South Africa's 100-megawatt Redstone Concentrated Solar Thermal Power (CSP) Project as an example. In mid-September, the Redstone project, built by a Chinese enterprise, was connected to the grid. Once fully operational, the project will contribute approximately 480 gigawatt-hours of clean electricity to South Africa's grid each year, meeting the electricity needs of more than 200,000 households, according to media reports.

Moreover, the establishment of the New Development Bank has provided important financial support to member countries in terms of green infrastructure. The bank announced that it will provide $30 billion in funding support to member countries from 2022 to 2026, with 40 percent of the funds allocated to mitigate climate change, the Xinhua News Agency reported. 

Such financial support has promoted investment in clean energy among member countries and accelerated the commercialization of new energy technologies. 

Exploration and collaboration on new-energy development among BRICS countries not only inject fresh momentum into their own sustainable growth but also offer new possibilities for the global energy transition and climate change mitigation. 

Through tangible actions, they illustrate that developing nations do not need to replicate the old paths of developed countries; rather, they can pursue and implement green, low-carbon development models while fostering economic growth. This new approach not only helps alleviate global climate change but also serves as a reference for other developing nations.