BRICS Group will expand and reshape global energy landscape!

Time of Release : 2023-10-09

The United Arab Emirates, Saudi Arabia, Iran, Egypt, Ethiopia and Argentina are expected to join the BRICS Group(Composed of Brazil, Russia, India, China and South Africa)in January 2024. A report claims that,the expanded BRICS Group will become the global leader in renewable energy in the coming decades.

Rystad Energy predicts that by 2050, over 80% of the group's electricity will come from renewable energy, and the total capacity will reach 11TW, which is more than twice the total expected power generation of the G7 Group at 4.5TW.

Rystad Energy said that as the group expands, Brics+ will become a net exporter of primary energy, and it's energy exports will become a global focus. The Brics+ Alliance will fundamentally reshape the global energy landscape, challenging existing models and striving to achieve ambitious sustainable development goals.