The lack of grid capacity has significant implications for international climate and energy goals too. And the task to correct it is daunting, says a joint report by Climate Investment Funds and the International Energy Agency (IEA).

It says, globally, over 80 million km of grid infrastructure will need to be added or refurbished worldwide by 2040 if countries are to fulfil their national climate commitments on time and in full. That is the equivalent of doubling the length of the existing grids worldwide.

Insufficient infrastructure or a lack of grid capacity also has implications for investments in renewables more broadly.

Of the $770 billion funnelled each year into clean energy for advanced, emerging and developing economies (EMDEs), only one-fifth is currently directed into building, scaling and future-proofing electricity grids.