Power is essential for driving economic growth, especially in emerging markets. Achieving Sustainable Development Goal (SDG) 7—Ensure access to affordable, reliable, sustainable and modern energy for all—is a necessary precondition for progress on many other SDGs, including those concerning health, education, industry, sustainable cities, and more.
Emerging markets are especially vulnerable to these developments. Despite greater access to power in developing countries, over 789 million people across the globe remain in the dark.
COVID-19 has had an impact on the sector, particularly by leading to a reduction of demand, financial stress, and disruptions to the power supply chain.