Tag: IRENA

Annual Renewable Power Must Triple by 2030

Stuart Mitchell

In the first volume of the World Energy Transitions Outlook (WETO) 2023 released today, the International Renewable Energy Agency (IRENA) identifies the way forward to immediately course correct the 1.5°C climate pathway. The report calls for raised global ambition in renewables deployment, enabled by physical infrastructure, policy, and regulations, and underlining institutional and workforce capabilities. The WETO 2023: 1.5°C Pathway positions electrification and efficiency as key transition drivers, enabled by renewable energy, clean hydrogen, and sustainable biomass and tracks implementation across all energy sectors. According to the latest edition, some…

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Scaled-up Investments and Enabling Frameworks Will Unlock Offshore Renewables Potential

Stuart Mitchell

The latest climate report by the Intergovernmental Panel on Climate Change states that the international community is very unlikely to limit the global temperature rise to 1.5°C, if immediate action is not taken. Offshore renewables – such as offshore wind and ocean energy – have significant potential to accelerate the global energy transition and create new economic and social opportunities. According to the latest data from the International Renewable Energy Agency (IRENA), the installed capacity of offshore wind grew 18-fold to over 55 gigawatt (GW) in 2022 and ocean energy…

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IRENA and Bloomberg Philanthropies Announce COP28 Partnership to Help Accelerate the Global Energy Transition

Stuart Mitchell

Bloomberg Philanthropies and the International Renewable Energy Agency (IRENA) announced a new COP28 partnership to turbocharge clean energy deployment and capital mobilization in emerging markets and developing economies. The official announcement took place in the presence of His Excellency Dr. Sultan Al Jaber, President-Designate of COP28, Francesco La Camera, Director-General of IRENA, and Michael R. Bloomberg, UN Special Envoy on Climate Ambition and Solutions and founder of Bloomberg L.P. and Bloomberg Philanthropies. Ahead of COP28 and the milestone Global Stocktake – assessing national contributions and progress against the goals of…

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IRENA Launches Report for the G20 on Low-Cost Energy Transition Finance

Stuart Mitchell

The International Renewable Energy Agency (IRENA), in partnership with the Indian G20 Presidency, launched a comprehensive report today on how low-cost finance can accelerate the energy transition. Titled “Low-Cost Energy Transition Finance”, and developed in close collaboration with India’s Ministry of New and Renewable Energy (MNRE), the report provides a toolbox to increase the availability of low-cost capital in G20 countries and beyond. The report was introduced by IRENA’s Deputy Director-General, Ms. Gauri Singh, alongside MNRE Secretary, Mr. Bhupinder S Bhalla, and India’s Power Ministry Secretary, Mr. Alok Kumar. The…

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IRENA Unveils New Initiative to Accelerate Youth-led Renewable Energy Projects and Start-ups

Stuart Mitchell

The International Renewable Energy Agency (IRENA) has launched a new initiative, the IRENA NewGen Renewable Energy Accelerator (NewGen), aimed at supporting young entrepreneurs and innovators in driving the renewable energy transition. NewGen will provide capacity building, mentorship and other resources to youth-led projects and start-ups that are developing innovative solutions to advance the adoption of renewable energy at the global level. IRENA’s initiative, supported by the United Arab Emirates, was revealed during the World Utilities Congress at the Youth Energy Forum held by the TAQA Youth Council in Abu Dhabi.…

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