AKIPRESS.COM - Investments in electricity grids in developing countries must make $640 billion annually to achieve carbon neutrality, according to the International Energy Agency (IEA, 2023).

The IEA forecasts highlight the urgent need to spend on modernizing and expanding electricity grid to integrate renewable energy sources and meet the growing demand for electricity.

“Annual electricity grid investment will more than triple in developing and transition economies under a zero emission scenario, totaling US$640 billion annually by the early 2030s,” the report says.

Thus, under the scenario, half of this increase should come from China, followed by investments in India, Southeast Asia and sub-Saharan Africa.