Renewable energy could define winners and losers in emerging markets

Emerging markets (EM) are using low-cost renewables to cut fuel imports, stabilize power costs and improve energy security—positioning EM as the growth engine of the energy transition. Countries and companies that leverage their dominance in critical minerals and green technology could pull ahead, creating dispersion in potential outcomes for investors. After more than a decade of stagnation, demand for electricity is surging globally on the strength of artificial intelligence and its associated infrastructure buildout. Across many regions, per capita electricity consumption is expected to reach...