Luca Campion graduated with great distinction in June 2019 with a Master's degree in Business Engineering from Hasselt University, specializing in Technology in Business. During his master's studies, he gained valuable consultancy experience through an internship. After graduating, he remained affiliated with Hasselt University, working as a doctoral researcher in the Environmental Economics research group. In both his master's thesis and his doctoral research, Luca focused on integrating techno-economic and life cycle analysis, particularly in the context of biochar, a biobased technology for carbon dioxide removal. In February 2024, Luca joined the strategic team at Econopolis as a Climate Consultant.
The global energy spend: progress, gaps, and power plays
This week, the IEA revealed its 2025 World Energy Investment report[1], which brought striking news: global energy investment will reach $3.3 trillion this year, with $2.2 trillion flowing to clean energy. That’s nearly double the amount going to fossil fuels, a milestone we anticipated in our September 2024 article[2], when clean investment first overtook fossil fuels globally.
The numbers are historic: solar alone will attract $450 billion in 2025. Electrification is reshaping energy systems, with record spending on EVs, batteries, and end-use electrification. The “Age of Electricity” has arrived, as the IEA terms it.
However, the IEA’s deeper message is clear: we’re moving fast, but not fast enough. Clean investment is rising, as are bottlenecks, inequalities, and emissions. Below, we unpack four signals that matter most for climate and strategy.
Clean supply booms but grids lag behind
Electricity generation is surging, but grids are the weak link. While $1 trillion goes to generation, only $400 billion is invested in grids, which is far from enough to support renewables or rising power demand from sectors such as AI, cooling, and the electrification of industry. Without grid parity, clean energy remains stranded potential.
A growing global divide
Africa, home to 20% of the world’s population, receives just 2% of clean energy investment. Debt burdens are choking progress, and Africa’s energy debt service costs now exceed 85% of its total investment. The COP29-backed “Baku to Belem” roadmap aims to fix this, but lowering capital costs will be key.
Fossil fuels aren’t done yet
Coal approvals hit a new high in 2024, driven by China and India. LNG expansion continues, with U.S. capacity set to double by 2028. Meanwhile, oil investment is falling for the first time since Covid, but that’s largely about stabilizing production, and not phasing it out.
The (un)likely alliance between nuclear and AI
Nuclear investment has jumped 50% in five years, partly driven by surging electricity demand from data centers and AI. Small modular reactors (SMRs) are emerging as potential stable power sources for an increasingly digital economy.
Final thought: Momentum is not the same as achievement
Clean energy is winning the investment race, but losing time. To meet COP28 goals, annual renewables investment must double again by 2030. Grids must scale. Capital must reach where it matters.
How can Ortelius help?
We help clients cut through the noise by mapping risks, unlocking finance, and aligning strategy with the true pace of transition. Reach out to see how we can support your next move, whether you're navigating policy shifts, unlocking finance, or building a climate-aligned investment strategy.
[1] https://www.iea.org/reports/world-energy-investment-2025
[2] https://ortelius.be/global-energy-emissions-hit-record-high-despite-significant-shift-towards-renewables/
comments powered by Disqus