India, China, Chile, Philippines and Brazil. These are the five most attractive developing economies to come true investments in renewable energy, according to a report from BNEF (BloombergNEF).
O Valid identity document (which can be consulted by clicking here) provides a analysis of the progress and attractiveness of clean energy in 110 developing economies, which together represented almost two-thirds of the global total of clean energy additions in 2022 and 82% of the world's population.
As scores analyzed are based on three parameters analytical:
- Fundamentals: include the main policies of a given economy, the market structure and barriers that may impede investment;
- Experience: considers market achievements to date across the sector;
- Opportunities for investment in clean energy: reflect the market's potential to increase its supply of renewable energy.
Na India, the great ambitions demonstrated with the execution of the clean energy auction program and the growing investment in renewable sources capacity led the country to first place in the general classification.
A China, is in second place due to its aggressive market policies adopted by the Government to decarbonize its economy by 2060, with significant growth opportunities in the immediate future.
O Chile, which topped the ranking last year, this time came in third place, while the Philippines, in fourth place, has gained six positions in the ranking since last year.
Although they are much smaller markets than India and China, both Chile and the Philippines have ambitious renewable energy targets and well-established policies that drive investment.
Already Brazil completes the top five, rising from ninth place last year, after record growth in solar energy additions in DG (distributed generation) systems, with almost 11 GW added in 2022 alone.
BloombergNEF's ten highest-rated developing countries:
- India
- China
- Chile
- Philippines
- Brazil
- Croatia
- Turkey
- Colombia
- Northern Macedonia
- Roménia
Sofia Maia, head of country transition research at BNEF, explains that To be truly attractions for investment in clean energy, countries need to have a well-structured energy market, with a series of policies in place to support the achievement of the energy transition.
“The top five markets in the study clearly reflect this and why they have all remained in the top 10 markets over the past four years,” he said.
Luiza Demoro, head of energy transition at BNEF, adds that accelerating the Investing in clean energy in developing economies is among the most important challenges facing the international community faces today.
“It will take a combination of smart policymaking and multilateral support. As host of next year's G-20 and COP 30 in 2025, Brazil, our fifth ranked market, can play a catalytic role in unlocking decarbonization progress across the developing world,” she said.
