The global energy transition is accelerating worldwide, with governments, companies, and associations across the globe collaborating for renewables to deploy faster.
According to Earth Org, global renewable electricity capacity is forecast to grow 2.6 times its 2022 level by 2030, roughly doubling the pace of 2019-2024.
Solar photovoltaic dominates this growth, accounting for nearly 80% of new additions, with distributed solar contributing 42% of growth from households, commercial buildings, and industrial rooftops. Meanwhile, offshore wind is expected to add 140 gigawatts.
Overall, renewable energy is forecast to meet more than 90% of electricity demand growth and surpass coal as the world’s largest electricity source by 2025-2026. Australia’s coal industry currently makes up 45% of the total power generation, and has long formed the backbone of Australia’s power system, as previously reported.
Amex Exploration (TSX-V:AMX) is one of the many examples contributing to the energy transition, following awarding Moreau to conduct preparatory work and support the regulatory processes for constructing a power line connecting the Normétal substation to the Perron Project in Valcanton, Canada.
Moreau will support Amex in planning, engineering, and permitting work related to constructing a 25 kilovolt medium-voltage line over 6.5km between Hydro-Québec Normétal substation and the project site.
Amex says connection to Hydro-Québec’s grid will enable the Perron Project to rely on a renewable, reliable, and low-carbon energy source. The energy integration will also reduce dependence on diesel generators, improve site operational efficiency, and directly support the company’s environmental objectives by lowering greenhouse gas emissions.
The infrastructure will provide stable power that meets industrial standards and will support bulk sampling activities, alongside projected operations during phase one – a toll-milling scenario currently in Feasibility Study.
Subject to receiving the required permits, commissioning of the powerline is expected in Q3 2026.
Europe
Meanwhile over in Europe, Montenegro is advancing its green transition, with the launch of the Balkan country’s Renewable Energy Sources (RES) Association – a new platform bringing together existing and potential investors in the renewable energy sector.
The RES Association – set up with the support of the European Bank for Reconstruction and Development (EBRD) and the European Union – will serve as a voice for renewable energy investors. The association aims to facilitate public-private dialogue, help shape a stable and transparent regulatory environment, and support Montenegro to unlock its renewable energy potential.
The establishment and initial operation of the RES Association are funded by the EYU. Its work is aligned with the country’s commitment under the EU Reform Agenda and Growth Plan, including the publication of a three-year plan for at least 400 megawatts of new renewable capacity by 2027.
Montenegro Minister of Energy and Mining Admir Šahmanović says energy is one of the key global political and economic issues today.
“A stable regulatory framework and partnership with investors and international financial institutions, along with the establishment of the Renewable Energy Sources Association, sends a strong signal that Montenegro is recognised as a serious investment destination and that now is the right time to combine potential and capital and make strategic strides in the energy sector,” Šahmanović says.
The European Commission has also opened an in-depth foreign subsidies probe into the activities of Chinese wind turbine manufacturer Goldwind Science & Technology (SHE:002202) in the EU wind sector.
On 3 February, the commission stated its “preliminary concerns” that Goldwind may have been granted foreign subsidies that could improve its own competitiveness and harm the EU internal market.
The possible foreign subsidies include grants, preferential tax measures, and preferential financing in the form of loans.
An investigation was initiated in April 2024 by sending requests for information to several companies active in the EU wind sector, including Goldwind. An in-depth investigation is being undertaken to assess whether the preliminary findings are confirmed.
Australia
Over in Australia, the Queensland Government has been distributing several grants to secure long-term energy deals and boost clean energy.
The state government secured a new 10-year power supply deal between CleanCo and clean energy provider Windlab.
CleanCo will secure 75% of Kennedy Energy Park’s wind energy output from mid-2028, delivering renewable power into the grid and reinforcing Hughenden’s role as a strategic energy hub.
Kennedy Energy Park is a hybrid renewable facility comprising 12 wind turbines, more than 55,000 solar panels, and 2 megawatts of battery storage.
Additionally, the government is delivering $2.4 million in applied research grants to build the state’s workforce in battery technology, as well as disability support.
The funding will drive innovation in vocational education and training, ensuring Queenslanders have the skills needed for secure jobs in emerging and essential industries.
Delivered through the TAFE Centres of Excellence at TAFE Queensland, the grants support projects that respond directly to industry-identified challenges and workforce needs. The TAFE Centre of Excellence Clean Energy Batteries and the TAFE Centre of Excellence Health Care and Support are joint initiatives of the Australian and Queensland Governments.
The global energy transition is no longer considered a distant ambition. It is reshaping supply chains, investment flows, and the very definition of what it means to be a mining company.
As Mining.com.au reported on Clean Energy Day (26 January), demand for minerals underpinning clean energy is accelerating at a pace few anticipated a decade ago.
Global demand for critical minerals is expected to double by 2030 under current climate conditions, driven by the acceleration of clean energy technologies, according to the International Energy Agency.
Nowhere is that pressure more visible than in copper. S&P Global revealed in a new study, Copper in the Age of AI: The Challenges of Electrification, that the pace of electrification is set to swell copper demand to 42 million tonnes by 2040, which is a 50% increase from current levels.
Yet global production is expected to peak at just 33 million tonnes by 2030, leaving the market facing a potential shortfall of 10 million tonnes by 2040 – 25% below the projected demand.
Write to Aaliyah Rogan at Mining.com.au
Images: Unsplash, AMEX Exploration, RES Association, and Queensland Resources Council
