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Utilities for Net Zero Alliance Unveils Strategic Action Plan at IRENA Assembly
Abu Dhabi, United Arab Emirates, 19 April 2024 – The Utilities for Net Zero Alliance (UNEZA) has announced the adoption of its UNEZA Roadmap to 2030. This ambitious plan aims to expand the collective renewable energy capacity of its members to 749 gigawatts (GW) by the year 2030, which represents a significant increase of 2.5 times compared to the figures in 2023. This announcement was made in conjunction with a comprehensive grid infrastructure action plan.
The initiatives were unveiled during the 14th Assembly of the International Renewable Energy Agency (IRENA), where participants highlighted the critical need for scaling up and modernizing global electrical grid infrastructure. This enhancement is vital for the advancement of clean energy as well as for achieving a threefold increase in renewable energy capacity by 2030. According to IRENA, achieving the target of limiting global warming to 1.5°C will necessitate an investment of approximately US$720 billion annually in power grids and associated flexibility measures.
In a collaborative statement, the CEOs of UNEZA member organizations underscored the importance of strong grid infrastructure. They called for engagement from the policy and regulatory sectors to tackle existing barriers and facilitate the flow of investments.
The UNEZA action plan is centered around three crucial focal points:
- Mitigating risks in supply chains.
- Advancing policy and regulatory initiatives.
- Attracting investment capital.
This joint statement and the action plan were disseminated on 17 April 2024, at the Ministerial Roundtable titled ‘Infrastructure for the Energy Transition: Utilities for Net Zero Alliance’ at the IRENA Assembly.
Francesco La Camera, IRENA Director-General, commented: “The transition to a renewable-centric energy infrastructure is gaining momentum, especially with the global commitment to tripling renewable power capacity by 2030 established at COP28. IRENA’s WETO report indicates that achieving this aspirational goal hinges upon modernizing energy infrastructure, shifting away from a model established in the fossil fuel era to a more integrated and adaptable system conducive to renewable energy. The unveiling of a grid infrastructure action plan by the Utilities for Net Zero Alliance marks a significant milestone in addressing this urgent need, highlighting the pivotal role utilities play in transforming energy systems and reaching net-zero targets.”
H.E. Razan Khalifa Al Mubarak, UN Climate Change High-Level Champion, remarked: “Utilities are crucial in implementing solutions that harmonize global development with a net-zero future, and they are at the heart of a future energy framework that respects ecological balance. Building on the impetus gained from COP28, we are pushing forward with the design and execution of our action plan and extend an invitation to utilities worldwide to participate in this initiative, demonstrating their commitment to impactful action.”
Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Co-Chair of the Alliance, stated: “The global utilities sector is embarking on robust and decisive strategies aimed at achieving the goal of tripling renewable capacity by 2030. This commitment not only reflects our investment strategies but also our determination to mitigate challenges related to the energy transition, especially those affecting grid development. It is widely acknowledged that enhancing grid infrastructure is essential for facilitating the energy transition and the growth of clean energy capacity. However, collaborative efforts across the sector and effective policies are required to bolster supply chain capacity, address grid permitting challenges, and enhance capital influx.”
Martin Pibworth, Chief Commercial Officer at SSE plc and Co-Chair of UNEZA, added: “Our collective efforts to expedite the deployment of renewable energy will significantly contribute to attaining our 2030 objectives. However, we recognize that utilities cannot achieve these goals independently. There is a pressing need to create resilient supply chains capable of accommodating the anticipated demand surge, along with progressive policies and regulatory frameworks that support investments and expedite project execution. Our gathering today serves to affirm our intent to the global supply chain and to offer actionable recommendations to policymakers, with the aim of facilitating substantial progress and ensuring we remain on course to triple renewable capacity this decade.”
Launched during COP28, UNEZA includes many prominent global utilities among its ranks. Initiated by TAQA (Abu Dhabi National Energy Company), the founding members feature organizations such as 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, Sacramento Municipal Utility District, Schneider Electric, Siemens, SSE, Tenaga, Uniper, and Xlinks. Notably, the Green Grids Initiative and ACWA Power have recently joined the alliance.
The UNEZA secretariat operates under the guidance and support of IRENA, with backing from collaborative partners including the UN Climate Change High-Level Champions, the International Electrotechnical Commission (IEC), the Global Renewables Alliance, and the Coordinador Eléctrico Nacional.
UNEZA welcomes organizations to align with its vision of accelerating the energy transition. Membership is open to utility companies, developers, technology providers for power systems, and knowledge partners eager to facilitate the journey towards a net-zero future by 2050.
*Note: UNEZA members may collaborate on projects from now until 2030, potentially affecting the overall net impact of renewable efforts within the coalition.
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