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Global Leaders Converge for IRENA Assembly to Accelerate Renewable Energy Transition
The year 2025 marks a significant milestone, as it will be a decade since the Paris Agreement was adopted. While the deployment of renewable energy surged to record levels last year, the momentum remains insufficient to meet the demands of climate change mitigation and the overarching goal of sustainable development globally.
Preliminary projections indicate that global renewable power capacity could see additions exceeding 530 gigawatts in 2024. However, this figure still falls short of the annual requirements necessary to achieve a cumulative installed capacity target of 11.2 terawatts by 2030.
Representatives from 140 countries gathered at the 15th IRENA Assembly in Abu Dhabi, under the theme “Accelerating the Renewable Energy Transition – The Way Forward.” In his opening remarks, IRENA Director-General Francesco La Camera emphasized the critical need for strategies that enhance energy security, stimulate socio-economic development, and facilitate innovative financing to drive forward the energy transformation globally.
With 2024 reported as the hottest year on record, ongoing geopolitical and socio-economic challenges illustrate the vulnerabilities associated with heavy reliance on fossil fuels, which are susceptible to price fluctuations and instability. The forthcoming COP28 and COP29 meetings, as well as the updates to national climate plans (NDCs 3.0), are seen as pivotal opportunities for global leaders to refine strategies and accelerate the transition to renewable energy.
In a message for #IRENA15A, @UN Secretary-General @antonioguterres acknowledged the progress in clean energy and urged immediate action on three critical fronts: governments need to align their future clean energy strategies with the next round of #NDCs, mobilization of financing, and a commitment to renewable development.
Selwin Hart, Special Adviser to the UN Secretary-General on Climate Action and Just Transition, highlighted the necessity for inclusive energy transitions that do not leave developing nations behind. He asserted the international community’s support in helping these countries navigate through current disparities to foster a prosperous global future.
As the developing world seeks to amplify its clean energy investments by six times to fulfill global climate objectives, Alexandre Silveira de Oliveira, Brazil’s Minister of Mines and Energy, representing the G20 presidencies, emphasized that the revised NDCs 3.0 must reflect heightened ambitions. Silveira de Oliveira formally extended the invitation for IRENA to oversee the Secretariat of the newly initiated Global Coalition for Energy Planning, aimed at enhancing energy planning in developing countries to drive investment.
Regular engagement was noted during the Assembly as delegates participated in more than 15 sessions over two days, discussing prioritization of essential actions like infrastructure modernization, policy adaptation, skill development, and investment mobilization as critical to accelerating the renewable transition.
Global investment in renewable energy and energy efficiency reached USD 0.9 trillion in 2023, a stark contrast to the estimated USD 3.8 trillion needed each year until 2030. Notably, investment distribution remains imbalanced, with 85% of renewable capacity concentrated in developed nations and merely 1.6% in Africa, as highlighted in IRENA’s World Energy Transitions Outlook.
The existing divide in financing further complicates matters, particularly in regions like Africa where only certain projects are deemed ‘bankable’. The Accelerated Partnership for Renewables in Africa (APRA) intends to close this financing gap. During its inaugural Investment Forum held in Kenya, 25 clean energy projects were introduced, cumulatively representing 1 GW capacity with a projected cost of USD 2.7 billion.
Moreover, IRENA’s Energy Transition Accelerator Financing Platform (ETAF) is already collaborating with 14 participating institutions with over USD 4 billion pledged towards these initiatives.
According to Dr. Kevin Kariuki, Vice President for Power, Energy, Climate and Green Growth at the African Development Bank, reaching electricity access for 300 million individuals is achievable, but prerequisites include overcoming systemic barriers and establishing supportive regulations and financial frameworks.
Delegates recognized 2025 as a pivotal juncture in the collective global response to the climate crisis. IRENA has aided over 100 nations in refining their NDCs by developing actionable emissions reduction strategies and clarifying investment needs.
As discussions progressed, a high-level dialogue on enhancing renewable energy in Small Island Developing States (SIDS) was also highlighted, emphasizing the ongoing struggles these nations face amidst climate-related catastrophes, costing around USD 26 billion annually—approximately 5% of their GDP.
Furthermore, the private sector’s role is critical, necessitating transparent targets and policies that support the enhancement of infrastructure to accommodate an increased share of renewable energy. Dialogues involving private sector representatives underscored the importance of regulatory reforms and infrastructure upgrades to attract investments, alongside addressing the slow permitting processes currently hindering progress.
Delegates noted that youth representation was significant, with 111 attendees at the sixth IRENA Youth Forum, which served as a platform for fostering intergenerational dialogue and empowering young voices in the energy policy landscape.
In conclusion, the assembly delegates emphasized that collaboration and mutual efforts are essential to achieving success in addressing the climate crisis, urging a collective commitment to a just and equitable energy transition that ensures no one is left behind.
For real-time updates and insights, follow IRENA on its social media channels and access the LIVE BLOG, which captures all discussions from January 12 and 13 regarding global energy transitions.
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www.irena.org