Transformers, substations + the grid
Francesco La Camera, IRENA Director General, added: “Grids are now the biggest roadblock to the energy transition, especially in emerging and developing countries where resilient infrastructure underpins climate action, sustainable growth, and energy security. To make COP30 in Belém a turning point, we must go beyond just building more lines. We need a systemic rethink, to create secure, a ordable, and reliable power systems fit for the future. Through the Global Coalition for Energy Planning and UNEZA, IRENA supports building ecosystems where regulators, utilities, planners, and ministries work together to deliver the speed, certainty, and bankability investors need.” At the ministerial meeting, UNEZA also announced a series of ‘delivery mechanisms’ to further accelerate investment in grid modernisation. Together, these initiatives address system bottlenecks that limit the pace of the energy transition – including supply chain challenges and capital flows. The mechanisms include: Pooled procurement – aggregating demand across utilities to achieve economies of scale, lower equipment costs, and strengthen supply chains, starting with small island developing states Unlocking stranded gigawatts – implementing data-driven planning, flexible grid access agreements, and new regulatory frameworks to reduce congestion and connect renewable ca- pacity currently stalled by infrastructure gaps Investment Trust Fund – launching consultations on a global fund to mobilise long-term capital for grid and renewable-energy infrastructure, leveraging UNEZA’s robust project pipeline to lower the cost of capital and attract institutional investors. Earlier, UNEZA announced a new partnership with the Global Clean Power Alliance (GCPA) led by the UK government, specifically to address supply chain challenges a ecting the power sector globally. GCPA confirmed UNEZA as its key supply chain mission delivery partner, bringing 12 ambitious governments together with 70 of the world’s leading utilities and power sector companies, to build more resilient power sector supply chains. References [1] UNEZA – Utilities for Net Zero Alliance: https://www.utilitiesfornetzero.org/ [2] The Climate Finance for Green Grids Principles: https://greengridsinitiative.net/ climate-finance-principles/
development banks (MDBs) also backed new grid financing principles endorsed by the COP30 Presidency, presented by the Green Grids Initiative [2] and supported by UNEZA. Developed through consultation with leading banks, the principles are designed to increase the pool of capital available to grids in emerging economies, from climate and development finance institutions. The governments, institutions and banks that have confirmed their backing for the Climate Finance Principles for Green Grids, include the African Development Bank, British International Investment, East African Development Bank, Inter-American Development Bank, Climate Bonds Initiative, Institutional Investors Group for Climate Change, Asia Investor Group on Climate Change, German Agency for International Cooperation (GIZ), Global Renewables Alliance, Grid Works, Climate High-Level Champions and the UK Government. In a letter to heads of MDBs prior to this announcement, COP30 CEO, Ana Toni, said: “Delivering on global goals for tripling renewable energy and doubling energy e iciency by 2030 will only be possible if grids keep pace. Through the principles [the Climate Finance Principles for Green Grids] and the UNEZA partnership, we [COP30] are turning global commitments into practical delivery, linking finance, policy, and implementation to build the resilient power systems that will enable a clean-energy future.” UNEZA was established under the UAE’s COP28 Presidency to address bottlenecks in power system transformation. The alliance is co-chaired by founding member TAQA (the Abu Dhabi national energy company) and the UK’s SSE (formerly Scottish and Southern Energy) and operates under the guidance of the International Renewable Energy Agency (IRENA) and the Climate High-Level Champions. Jasim Husain Thabet, Group Chief Executive O icer of TAQA, founder and co-chair of UNEZA, commented: “UNEZA was established at COP28 as a platform for cooperation and decisive energy transition action from the global utilities community. This announcement reflects that we deliver against our promises and underscores the magnitude of our intent. Utilities worldwide are mobilising substantial investments that are aligned with the need for a more resilient and sustainable energy system. We are standing up to deliver the most significant infrastructure upgrade of our lifetime – a power system fit for the 21st century – and fulfilling the pledges made at COP28 and COP29.
For more information visit: www.irena.org/
Martin Pibworth, Chief Executive of SSE and co-chair of UNEZA, said: “The world is long on commitments and short on implementation, and we therefore welcome the Brazilian Presidency’s focus on closing this gap at COP30. This is where the global utilities community is making a real di erence, turning policy into progress by delivering critical electricity infrastructure on the ground, and we are delighted to be setting out these increased investment commitments by UNEZA members today. Last year, UNEZA members built enough new grids to stretch from Belém to New Zealand, and enough new renewables capacity to meet half the peak demand of India. This is real progress in the energy transition which is so critical to the future of our planet. We now look forward to delivering this next step change in delivery.”
The need for investment in power transmission grids and flexibility was recognised as a priority at the 2025 Climate Change Conference, COP30.
MARCH 2026 Electricity + Control
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