Renewable Energy Generation in Developing Countries Grows Faster Than Fossil Fuels

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Adi Ahdiat 12/11/2025 15:11 WIB

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During the period 2015-2024, renewable energy generation capacity in developing countries globally continued to increase, with a faster growth rate compared to fossil fuels.

Installed Capacity of Fossil Fuel and New-Renewable Energy Power Plants in Global Developing Countries (2015-2024)*

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Installed Capacity of Fossil Fuel and New-Renewable Energy Power Plants in Global Developing Countries (2015-2024)*

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New and renewable energy (NRE) power generation capacity in emerging market and developing economies (EMDEs) has grown rapidly over the last decade.

According to BloombergNEF data, in 2015, the total installed capacity of NRE power plants in developing countries globally was only 0.6 terawatts (TW).

Since then, its capacity has continued to increase, reaching 1.2 TW in 2024.

Cumulatively, the installed capacity of NRE power plants in developing countries has grown by approximately 100% during the 2015-2024 period.

This NRE growth is faster than that of fossil fuels, whose installed capacity only increased by about 31% during the same period.

"The last decade has been a success story for developing countries. Their renewable energy investments have nearly tripled, low-carbon power generation installed capacity has doubled, and almost all of them have climate targets," BloombergNEF stated in its Climatescope 2025 report.

Nevertheless, the total capacity of fossil fuel power plants in developing countries is still larger than that of NRE, reaching 1.7 TW in 2024, as shown in the chart.

"Fossil fuels still account for about 58% of the total installed power generation capacity in developing countries, and their production continues to increase in absolute terms," BloombergNEF said.

BloombergNEF also found that the growth in power generation capacity in developing countries is uneven.

Some developing countries still show significant growth in fossil fuel power plants, with Indonesia being one of them.

"Indonesia alone accounts for almost one-third of the total new fossil fuel power plant installations in developing countries, with an additional capacity of 8.9 gigawatts (GW) in 2024," BloombergNEF said.

"The majority of this comes from coal and gas projects, to meet the rising demand in the mining and metals sectors in the country," it added.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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Renewable Energy Generation in Developing Countries Grows Faster Than Fossil Fuels

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