Tag: IRENA

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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IRENA and thyssenkrupp Agree to Accelerate Green Hydrogen Solutions

Stuart Mitchell

The International Renewable Energy Agency (IRENA) has signed a partnership agreement with thyssenkrupp aimed at advancing the green transformation in pursuit of global development and Paris Agreement goals. Under the agreement, both organisations will work together and share knowledge on the large-scale production and supply of green hydrogen and other green energy carriers and their transport – along the entire hydrogen value chain in demand, supply and infrastructure. The agreement has been signed by IRENA’s General-Director Francesco La Camera and thyssenkrupp Chief Executive Officer Martina Merz in a virtual ceremony…

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Investment Needs of USD 35 trillion by 2030 for Successful Energy Transition

Stuart Mitchell

The global energy transition is off-track, aggravated by the effects of global crises. Introduced by IRENA’s Director-General Francesco La Camera at the Berlin Energy Transition Dialogue (BETD) today, the World Energy Transitions Outlook 2023 Preview calls for a fundamental course correction in the energy transition. A successful energy transition demands bold, transformative measures reflecting the urgency of the present situation. Investment and comprehensive policies across the globe and all sectors must grow renewables and instigate the structural changes required for the predominantly renewables-based energy transition. The Preview shows that the scale…

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Record Growth in Renewables Achieved Despite Energy Crisis

Stuart Mitchell

By the end of 2022, global renewable generation capacity amounted to 3372 Gigawatt (GW), growing the stock of renewable power by a record 295 GW or by 9.6 per cent. An impressive 83 per cent of all power capacity added last year was produced by renewables. Renewable Capacity Statistics 2023, released by the International Renewable Energy Agency (IRENA) shows that renewable energy continues to grow at record levels despite global uncertainties, confirming the downward trend of fossil fueled power generation. “This continued record growth shows the resilience of renewable energy…

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