I am awed by energy transition innovation' says GE Vernova's Blanco

In an Enlit exclusive, Claudia Blanco, Business Incubator Leader at GE Vernova, expands on the importance of investing in secure, resilient and sustainable technology and infrastructure throughout the value chain to ensure a seamlessly integrated energy transition.

What are the top three challenges to delivering the energy transition? 

Global electricity demand is projected to grow by 50% by 2040. At the same time, climate change demands that we integrate renewables into the energy mix faster. Around the world, aging grids are ill-equipped to meet this growing demand and integrate renewables. This will require investment in grid modernisation as well as a rethinking of the regulatory, industry and resource environment to enable this modernisation at a rapid pace.

Integration of renewables into the grid introduces new variables that challenge reliability and grid stability. As an industry, we must look to new technologies to ensure uninterrupted, stable electricity when the sun isn’t shining, and the wind isn’t blowing. We must create a digitised, bidirectional grid that can adapt in microseconds to faults, changing loads, and multiple energy sources.

In the past five years, geopolitical events, the pandemic and extreme weather have challenged energy security and supply chain stability. We must have secure, resilient and sustainable energy technology supply chains to ensure such variables do not disrupt the energy transition.

What single action will accelerate the deployment of clean energy? 

Long-term investment backed by sound policy and regulation. Governments and businesses must invest not only in clean energy generation, such as solar photovoltaics and wind turbines, but in a modernised grid that can accept and efficiently use renewable energy in a way that is affordable and reliable. The IEA estimates that the world will need to step up investments in power and grids from $700 billion currently to $1.2 trillion per year by 2030 to reach net zero by 2050.

What most excites you about the European energy transition? 

We are at an inflection point. The decisions we make today will create our modern energy future. There have been some strong market signals from governments and policymakers to accelerate the clean energy transition in recent years and are still evolving.

I am awed by the innovation of the past decade with the emergence of digital technologies, the arrival of increasingly affordable distributed power technologies, decarbonisation through the maturation of renewable energy and energy efficiency options, and finally, the electrification of energy uses. How we deploy these new technologies will set the course for not only a decarbonised future but a world in which reliable, affordable energy is accessible to everyone.  

Do you think Europe is at risk of losing its first-mover status in the energy transition? 

This need not be a zero-sum game of winners and losers. The energy transition demands collaboration above all. We must come together to align policies, regulation and standardisation so we can meet electrification and decarbonisation goals on an ambitious timetable.

We must work together to create a secure energy technology supply chain to keep our work uninterrupted. Finally, we must show our commitment by investing appropriately in both energy generation and energy transmission & distribution.

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