The energy transition is dependent upon the reliable and continuing supply of critical mineral resources, which enable the manufacture of key renewable energy generation and storage equipment, especially solar PV and battery storage.
$500BN
(USD) in new capital investment required for mining between now and 2040 to meet rising demand for critical minerals1
6-8%
increase in demand for other vital minerals, including nickel, cobalt, graphite, and rare earths, largely driven by usage in electric vehicles (EVs), battery storage, renewables, and grid infrastructure
The growth in renewables capacity, especially solar PV, along with electric vehicles and BESS, is driving rapid growth in demand for critical minerals. Renewable generating technologies such as solar panels and wind turbines are mineral-intensive, making the availability and cost of these critical resources fundamental to the world’s energy transition. According to BloombergNEF, up to USD 10 trillion in investment may be required to meet the demand for these materials by 20502.
Quinbrook sees opportunities arising from the global transformation of supply chains necessary for the manufacture of renewable energy supply and storage equipment which relies heavily on the ready availability of critical mineral resources. As a global developer, constructor, investor and owner of renewable energy generation and storage facilities, Quinbrook is a large scale buyer of the key equipment and components derived from critical mineral resources, such as solar modules, wind turbines, batteries, steel and concrete.
Active participation in the transformation of these supply chains can offer Quinbrook opportunities to power and decarbonise energy intensive processing operations (such as silicon metal smelting for solar PV) as well as foster more resilient and transparent supply chains overall that deliver sustainable competitive advantage in equipment procurement.
1 IEA
2 The Race to Secure Critical Minerals, BloombergNEF, October 2023