Clean energy investments reach $1.8 trillion

19 Jun 2024 CW Team

The study stressed how crucial battery energy storage systems (BESS) are to overcome these obstacles, especially in developed countries where network congestion has become a serious issue. BESS is essential, according to EY, for bolstering and stabilising grid infrastructure and facilitating the connection of more dispersed energy resources. Arnaud de Giovanni, EY Global Renewables Leader, emphasised the significance of scaling up battery energy storage systems (BESS). He noted that expanding BESS capabilities could address various challenges hindering the advancement of clean energy.

According to Giovanni, "Scaling up battery energy storage systems can help solve multiple problems holding up clean energy progress." He outlined four critical areas for investors to concentrate on: constructing a resilient investment case, maintaining competitiveness in technology, establishing optimal business models or financing structures, and mitigating risks in the supply chain.

The RECAI (Renewable Energy Country Attractiveness Index) also introduced a new ranking for global markets based on their appeal for BESS investments. The United States secured the top spot, bolstered by a 30% tax credit under the Inflation Reduction Act. China and the United Kingdom followed closely, benefiting, respectively, from robust government support and advanced energy market frameworks.

Ben Warren, EY RECAI Chief Editor, acknowledged the growing complexity and interest in BESS investments. He observed, "Investor interest in BESS is increasing," and added, "BESS investments require a long-term commitment; they are also highly localised and carry more risk compared to some other clean energy investments."

EY forecasts a significant increase in global BESS deployment from 2023 to 2030, projecting it to grow fourfold to reach 572 GW/1,848 GWh. This underscores the expanding role of energy storage within the dynamic energy sector.

According to the EY Renewable Energy Country Attractiveness Index (RECAI 63) report, there has been a notable increase in global investments in clean energy, reaching $1.8 trillion last year, of which $660 billion went towards renewables. However, the investment still does not reach the COP28 target, which calls for tripling renewable capacity by 2030. Two main challenges that might prevent the required acceleration are high capital expenditures and network congestion. The study stressed how crucial battery energy storage systems (BESS) are to overcome these obstacles, especially in developed countries where network congestion has become a serious issue. BESS is essential, according to EY, for bolstering and stabilising grid infrastructure and facilitating the connection of more dispersed energy resources. Arnaud de Giovanni, EY Global Renewables Leader, emphasised the significance of scaling up battery energy storage systems (BESS). He noted that expanding BESS capabilities could address various challenges hindering the advancement of clean energy. According to Giovanni, Scaling up battery energy storage systems can help solve multiple problems holding up clean energy progress. He outlined four critical areas for investors to concentrate on: constructing a resilient investment case, maintaining competitiveness in technology, establishing optimal business models or financing structures, and mitigating risks in the supply chain. The RECAI (Renewable Energy Country Attractiveness Index) also introduced a new ranking for global markets based on their appeal for BESS investments. The United States secured the top spot, bolstered by a 30% tax credit under the Inflation Reduction Act. China and the United Kingdom followed closely, benefiting, respectively, from robust government support and advanced energy market frameworks. Ben Warren, EY RECAI Chief Editor, acknowledged the growing complexity and interest in BESS investments. He observed, Investor interest in BESS is increasing, and added, BESS investments require a long-term commitment; they are also highly localised and carry more risk compared to some other clean energy investments. EY forecasts a significant increase in global BESS deployment from 2023 to 2030, projecting it to grow fourfold to reach 572 GW/1,848 GWh. This underscores the expanding role of energy storage within the dynamic energy sector.

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Infrastructure Energy

07 Nov 2025

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Equipment

07 Nov 2025

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..