Major global utilities announce joint intent to scale renewable capacity by 2.5 times to 2030

Google+ Pinterest LinkedIn Tumblr +
  • The Utilities for Net Zero Alliance (UNEZA) has adopted the UNEZA Roadmap to 2030, which targets a total increase of renewable energy capacity within their portfolios to 749 GW by 2030, an increase of 2.5 times relative to 2023.
  • Alliance members’ joint renewables ambition was announced today alongside a grid infrastructure action plan at the 14th Assembly of the International Renewable Energy Agency (IRENA).
  • The event addresses the pressing need to scale and modernise global grid infrastructure to support clean power development and the tripling of renewables by 2030.
According to IRENA, around USD 720 billion per year of investment in power grids and flexibility is needed, to limit global warming to 1.5°C. In a joint, high-level statement, Alliance CEOs stressed the centrality of enabling grid infrastructure and urged the policy and regulatory community to engage industry to address bottlenecks and unlock capital flows.

The UNEZA action plan focuses on three key critical areas:

  • De-risking supply chains.
  • Facilitating policy & regulatory support.
  • Mobilising capital.
The joint statement and action plan were announced on 17 April 2024 at the 14th IRENA Assembly Ministerial Roundtable ‘Infrastructure for the Energy Transition: Utilities for Net Zero Alliance’.

The Alliance secretariat is guided and hosted by IRENA and supported by partners including the UN Climate Change High-Level Champions, International Electrotechnical Commission (IEC), Global Renewables Alliance and Coordinador Eléctrico Nacional, Green Grids Initiative.

UNEZA invites companies to join the common vision of accelerating the energy transition. The Membership is open to utilities, developers, power system technology companies and knowledge partners determined to expedite the transition towards a net zero future by 2050.

Author: Bryan Groenendaal

Leave A Reply

About Author

Green Building Africa promotes the need for net carbon zero buildings and cities in Africa. We are fiercely independent and encourage outlying thinkers to contribute to the #netcarbonzero movement. Climate change is upon us and now is the time to react in a more diverse and broader approach to sustainability in the built environment. We challenge architects, property developers, urban planners, renewable energy professionals and green building specialists. We also challenge the funding houses and regulators and the role they play in facilitating investment into green projects. Lastly, we explore and investigate new technology and real-time data to speed up the journey in realising a net carbon zero environment for our children.

Copyright Green Building Africa 2024.