Global momentum builds for energy grid and storage investment amid European power outages

April 30, 2025

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Over 60 countries and 100 organisations have now signed the COP29 Global Energy Storage and Grids Pledge

Brasília, 30 April 2025 – The recent power outage in Spain and Portugal highlights the crucial importance of strengthening grids and storage to ensure modern and secure power systems. Public and private sectors must now collaborate and invest in resilience and flexibility. This means more cross-border interconnections, system integration and energy storage. 

The Global Energy Storage and Grids Pledge, launched by the COP29 Presidency, has now been endorsed by over 65 countries and 100 organisations across every continent. Signatories include Brazil, Kenya, the United States, Pakistan, Morocco, Uruguay, Vietnam, Ukraine, Chile, the Philippines, Nigeria, France, India, and many others. Together, they are committing to deliver the infrastructure essential to the global clean energy transition.

The pledge sets clear, action-oriented targets:

  • Deploying 1,500 GW of energy storage
  • Building or modernising 25 million kilometres of electricity grids
  • Doubling global investment in grid infrastructure — all by 2030.

H.E. Mukhtar Babayev, President of COP29, welcomed the milestone: “Azerbaijan launched the Global Energy Storage and Grids Pledge at COP29 in Baku to elevate grids and storage as critical enablers of the clean energy transition to a new level. We welcome the growing international support, with over 65 countries and 100 organizations now endorsing this initiative. The efforts of the Global Renewables Alliance in promoting this important pledge and driving global momentum are highly valued.”

“As the recent power outages in Europe have shown, the need for resilient, modern energy systems is more urgent than ever. We call upon all countries and partners to join us in accelerating investment, fostering collaboration, and delivering the infrastructure that will power a secure and sustainable future,” H.E. Babayev added.

This marks the first time that storage and grids have been elevated as pillars of the international climate agenda. These investments are vital to integrating variable renewable energy, ensuring reliability, and enabling energy security through a flexible, modern energy system — a prerequisite for achieving the global goal of tripling renewables agreed at COP28.

Bruce Douglas, CEO of the Global Renewables Alliance, emphasised the urgency of action: The recent power disruption in Europe has shown what’s at stake — it should serve as an urgent wake-up call for increased investment in grids and storage. This pledge is a breakthrough moment — a signal that the world is serious about building the backbone of a renewables-based energy system.” 

“But targets alone are not enough. Governments must now implement regulatory reforms, scale long duration storage, and unlock public and private investment to make this vision a reality,” Douglas added. 

The Global Renewables Alliance is also calling for countries to commit to at least 1 terawatt (TW) of long duration energy storage (LDES) by 2030 — critical to ensuring system flexibility, particularly in emerging markets and island nations. Enabling policies and regulatory frameworks are needed to reduce risk, attract capital, and accelerate project deployment.

See the full list of signatories and learn how to support the pledge here:
https://globalrenewablesalliance.org/signatories-cop29-global-energy-storage-grids-pledge/

About the Global Renewables Alliance

The Global Renewables Alliance ( GRA) represents the leading international industry players and provides a unified renewable energy voice. Comprised of founding members the Global Wind Energy Council, the Global Solar Council, the International Hydropower Association, the International Geothermal Association, the Long Duration Energy Storage Council and the Green Hydrogen Organisation, the Alliance aims to increase ambition and accelerate the uptake of renewable energy across the world.  #3xRenewables.

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Saga Henriksdotter

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