A rendition of what Johannes Zutt of World Bank divulged: BRICS push renewables to forefront, but India faces harder questions
At the Financial Times Energy Transition Summit in India, Johannes Zutt, Vice President for South Asia at the World Bank, offered a candid assessment during a keynote interview session of how emerging economies are recalibrating their growth strategies around clean power — and why the aluminium sector should be paying close attention.
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Zutt drew a parallel with Brazil, noting that the country’s success in solar was no accident. “Successive governments saw the potential of exploiting high solar irradiation in the northeast and put in place a comprehensive programme to realise that potential,” he said. The Brazilian model combined competitive auctions, long-term power purchase agreements for investor stability, cheap development bank financing, and, crucially, grid integration underpinned by a hydro-heavy baseload. That framework has delivered one of the cleanest grids in the world, with renewables supplying about 90 per cent of its electricity.
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