Utilities for Net Zero Alliance (UNEZA) adopted the UNEZA Roadmap, targeting a 2.5-fold increase in renewable energy capacity within their portfolios to 749 gigawatts (GW) by 2030, the International Renewable Energy Agency (IRENA) said on Friday in a statement.
The alliance members' shared goal for renewable energy was unveiled on Friday, along with an action plan for grid infrastructure, at IRENA’s 14th assembly.
The plan addresses the pressing need to scale up renewables and modernize global grid infrastructure to support clean power development.
According to IRENA, an annual investment of around $720 billion in power grids and grid flexibility is needed to limit global warming to 1.5°C.
The UNEZA action plan focuses on three key critical areas: de-risking supply chains, facilitating policy and regulatory support and mobilizing capital.
The transition to an energy system based on renewables is accelerating, with the goal adopted at COP28 in November last year to triple renewable power capacity by 2030, according to IRENA Director-General Francesco La Camera.
Launched at COP28, UNEZA counts many of the leading global utilities among its membership.
Led by the UAE’s TAQA (Abu Dhabi National Energy Company), founding entities also include Bui Power Authority, DEWA, DLO Energy, EDF, EDP, Edison International, E.ON, Enel, Engie, Etihad Water and Electricity, Hitachi Energy, Iberdrola, Jinko Power, KEGOC, KenGen, Masdar, National Grid, Octopus Energy, RWE, Sacremento Municipal Utility District, Schneider Electric, Siemens, SSE, Tenaga, Uniper and Xlinks.
The Green Grids Initiative and ACWA Power are recent new additions to this community.
By Gulsen Cagatay
Anadolu Agency
energy@aa.com.tr