Accelerating renewable energy adoption

The International Renewable Energy Agency (IRENA) is pushing for low-cost capital to accelerate renewable energies.

This comes as the agency, in collaboration with energy giant, Masdar, signed an agreement to cooperate on a major international knowledge project, setting out the means to triple global renewable energy capacity by 2030.

Working in partnership with the Indian G20 Presidency, it launched a comprehensive report 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 provided a toolbox to increase the availability of low-cost capital in G20 countries and beyond.

IRENA’s Deputy Director-General, Gauri Singh, alongside MNRE Secretary, Bhupinder Bhalla, and India’s Power Ministry Secretary, Alok Kumar, introduced the report.

IRENA Director-General, Francesco La Camera, said in a statement: “The global energy transition requires a rapid scale-up of renewable energy deployment globally, making access to low-cost finance urgently vital. We are proud to contribute to the work of the G20 and provide valuable insights that support India’s Presidency in facilitating access to affordable finance in developing and advanced economies.”

By Kingsley Jeremiah
https://guardian.ng/energy/irena-pushes-for-low-cost-credit-to-accelerate-renewable-energy-adoption/