Green horizons: accelerating climate solutions

Embark on this month's journey as we explore the critical strategies driving global climate action. From the imperative of extending the global electricity network to the significant role of renewable energy expansion in curbing global CO₂ emissions. Additionally, we delve into the EU's latest directives on building energy performance and the increasing adoption of clean power by corporations through Power Purchase Agreements (PPAs).

Let's get started!⬇️

Extending the power grid to reach the Sun 

According to BloombergNEF, meeting the demands of a net-zero world will require extending the world's electricity network to over 152 million kilometers by 2050, equivalent to the distance from Earth to the Sun, and investing more than $21 trillion in the grids by 2050.

This commitment is evident in Enel Group 's Strategic Plan for 2024-2026, which outlines an investment of approximately €18.6 billion to enhance the grid's quality, resilience, and digitization.

🔍Discover more about the current state of the global grid and learn the steps needed to stay on track for net zero.

Driving global emission reductions through clean energy

A recent analysis by the IEA reveals that global energy-related CO₂ emissions saw a slower increase in 2023 despite a spike in total energy demand. This slowdown was attributed to the continued growth of renewable energy sources, crucial in reducing dependence on fossil fuels. Without these clean energy technologies, global CO₂ emissions over the past five years would have risen much more significantly.

🔍Read the article to learn more about this milestone.

Advancing energy efficiency in buildings: the EU's new directives

The EU has recently introduced the Energy Performance of Buildings Directive and the Energy Efficiency Directive to improve building energy performance and align with its energy and climate goals. The directives aim to achieve energy-efficient and decarbonized buildings by 2050, promote investment stability, and empower consumers and businesses to make informed energy-saving decisions.

🔍Discover how these policies will enhance energy performance in buildings across EU countries.

Corporations are shifting toward clean power

Since 2008, corporations have committed to Power Purchase Agreements (PPAs) totaling 198 GW of solar and wind energy, exceeding the generation capacity of countries like France, the United Kingdom, and South Korea. The PPA market has seen consistent growth, averaging 33% since 2015. Notably, Europe experienced a remarkable rise, with corporate PPA volume soaring by 74% to 15.4 GW between 2022 and 2023.

Explore our PPAs here and delve into BloombergNEF's analysis.🔍