Global Renewable Power Capacity Targets Rise for 2035
IRENA and Mexico outline aggressive generation and storage goals to support a shift toward 50% global electrification by 2050.
Updated on Oct. 28, 2026 in Energy
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The International Renewable Energy Agency (IRENA) has released its World Energy Transitions Outlook 2026, outlining the global requirements for reaching renewable capacity targets of 18.4TW by 2035 and 38.2TW by 2050. Concurrently, Mexico announced a MX$1.16 trillion (approx. US$65 billion) federal energy plan targeting 18,597MW of new generation capacity by 2030.
Why it matters
To align with established climate pathways, global electricity consumption must shift from its current 23% share to 35% by 2035 and 50% by 2050, requiring US$256 trillion in cumulative investment. These targets necessitate significant build-outs in both generation and grid-stabilizing energy storage to handle peak demand and transmission constraints.
Global energy transition metrics mandate a 18.4TW renewable capacity by 2035, while Mexico targets 32GW to 38GW of new generation capacity. To manage these loads, national planning mandates 8GW to 9GW of operational energy storage by the mid-2030s to mitigate transmission bottlenecks.
The players
IRENA
An intergovernmental organization that supports countries in their transition to a sustainable energy future through data and policy analysis.
Government of Mexico
The federal authority managing a new MX$1.16 trillion investment plan to restructure national power generation and infrastructure.
The details
The transition requires increasing the electrification of final energy consumption, moving from a 23% share today to over 50% in Latin America by 2050. New Mexican capacity involves 15,203MW of renewable projects developed through a combination of public and private operators. Energy storage capacity—large-scale batteries or systems capable of absorbing and discharging electrical energy—is central to the strategy to manage fluctuations in intermittent renewable generation and peak demand.
Timeline
2026-2050: Cumulative global investment period for energy transition.
2030: Deadline for 18,597MW of new generation capacity in Mexico.
2035: Target year for 18.4TW of global renewable power capacity and 35% electricity share.
Mid-2030s: Operational goal for 8GW to 9GW of energy storage capacity.
2050: Target for 38.2TW of global renewable capacity and over 50% electricity share.
The Tech Race
This plan follows the global benchmarks set by the IRENA World Energy Transitions Outlook 2026 to coordinate regional development. Mexico's commitment serves as a primary regional milestone in meeting the required 18.4TW of global capacity by 2035.
Industrial and residential users in Mexico should expect a shift in power supply composition as 32GW to 38GW of new generation capacity comes online through 2030. The integration of 8GW to 9GW of storage capacity is intended to improve grid stability, though the timeline for specific project commissionings remains pending.
The takeaway
Global transitions are now moving toward a 50% electrification target by 2050, backed by US$256 trillion in projected investment. Observers should track the 2030 progress reports on Mexico's 18,597MW generation milestone as a proxy for regional implementation success.
Further reading
For broader trends in infrastructure, read more in Energy.
Source note: This article includes information reported by Mexico Business.
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