Leading utility companies intend to invest more than $116bn a year in clean power generation and power system grid infrastructure “in the coming years”, according to the Utilities for Net Zero Alliance (Uneza).

Launched at Cop28 in Dubai last year, Uneza has 39 members including :

• Abu Dhabi Future Energy (Masdar)
• Abu Dhabi National Energy Company (Taqa)
• Acwa Power (Saudi Arabia)
• Ducab (UAE)
• Engie (France)
• EDF Renewables (France)
• Enel (Italy)
• Hitachi Energy (Japan)
• Iberdrola (Spain)
• Jinko Power (China)
• Edison International (US)
• Dubai Electricity & Water Authority (Dewa, UAE)
• Uniper (Germany)
• Xlinks (UK)
• RWE ( Germany)
• Orsted (Denmark)
• Kenya Electricity Generating Company

According to Uneza, these companies serve more than 327 million customers globally and aim to scale renewables portfolios by 2.6 times by 2030.

Of the total estimated investment, 48% is expected to be allocated to improve transmission and distribution infrastructure, an area that Uneza member Hitachi Energy said has been “overlooked in the past few decades”.

According to Andreas Schierenbeck, Hitachi Energy's chief executive, many countries are experiencing grid bottlenecks, as illustrated by connection queues, curtailment and other indicators.

“To alleviate pressure on grid technology supply chains, including HVDC [high-voltage direct current], transformers and switchgear, we need more long-term planning, innovative business models and the right incentives,” Schierenbeck said.

The planned investment was announced during New York Climate Week at a roundtable in partnership with the World Trade Organisation, where Uneza members published a high-level statement with recommendations to policymakers designed to alleviate supply-chain constraints.

The high-level statement includes calls from industry for policymakers to harmonise standards of equipment across regions and jurisdictions, creating a bigger market for common goods; promote the free flow of supplies; establish forward-looking, integrated and long-term system planning, including multi-project approvals and permitting; promote policy and regulatory business model innovation; and maintain a healthy skills supply chain.