The Asian Infrastructure Investment Bank (AIIB) and the International Renewable Energy Agency (IRENA) have signed a Memorandum of Understanding (MOU) committing to work together to support energy transition and promote renewable energy. The MOU was signed on Sep. 20 by AIIB President, Jin Liqun, and IRENA Director-General, Francesco La Camera, at a virtual ceremony to […]
Enfinity Global, CarVal Investors Sign USD 300 Million Loan Facility – EQ Mag Pro
Renewable energy solutions platform Enfinity Global and CarVal Investors have entered into a $300 million loan facility to fund Enfinity’s three gigawatts of renewable energy projects. As per the estimates of International Renewable Energy Agency (IRENA), a USD 131 trillion investment will be required to achieve net zero CO2 emissions by 2050. We are very […]
Indonesia’s First Floating Solar Power Plant Achieves Financial Close
Project to provide electricity to power 50,000 homes. Indonesia’s first utility-scale floating solar power plant has reached financial close as the country pursued its goal of achieving a 23% renewable energy mix by 2025. The 145-megawatt Cirata floating photovoltaic (PV) power plant is being developed by PT Pembangkitan Jawa Bali Masdar Solar Energi, a joint […]
Renewables Were the World’s Cheapest Source of Energy in 2020, Report Shows
Retiring costly coal plants could stop the emission of about 3 gigatonnes of CO2 a year. Renewables are now significantly undercutting fossil fuels as the world’s cheapest source of power, according to a new report. Of the wind, solar and other renewables that came on stream in 2020, nearly two-thirds – 62% – were cheaper […]
‘Decisive’ Decade in Climate Change Fight Needs Lending Surge
A surge in private lending for renewable energy projects this decade is key to meeting global targets to limit the rise of temperatures worldwide, according to the International Renewable Energy Agency. Governments and companies are working to cut greenhouse-gas emissions and limit the increase in global temperatures to 1.5 degrees celsius. To reach that, Irena, […]
Majority of Wind And Solar Power Installed in 2020 Cheaper Than New Coal-Fired Production: Irena
Price of new renewable energy is now lower than the running costs of 810GW of existing coal plants, the agency explains in its annual cost report. The majority of new renewables generation installed around the world last year is delivering power at a lower cost per MWh than new coal-fired production, according to a new […]
Abu Dhabi Commissions Solar Farm in West Africa’s Togo
The Mohamed Bin Zayed Solar PV Complex is expected to power around 158,000 homes and businesses in the country. DUBAI: An Abu Dhabi-funded solar plant in Togo, West Africa is now fully operational, state news agency WAM reported. The Mohamed Bin Zayed Solar PV Complex, a 50-MW project financed by the Abu Dhabi Fund for […]
Morocco Eyes Green Hydrogen Exports With IRENA Renewables Collaboration
Builds on IRENA hydrogen framework with EC. Morocco aims for 52% renewable power by 2030. 3.5 GW of installed renewables end 2020.Morocco and the International Renewable Energy Agency (IRENA) will collaborate to advance the country’s renewable hydrogen economy and accelerate the uptake of renewable energy as it seeks to become a major green hydrogen producer […]
World Still Falls Short of Ensuring Access to Energy: Report
According to the report, significant progress has been made since 2010 on various aspects of the Sustainable Development Goal (SDG) 7, but progress has been unequal across regions. New Delhi: During the last decade, a greater share of the global population gained access to electricity than ever before, but the number of people without electricity […]
China and IRENA Boost Ties as Leading Renewables Market Eyes Carbon Neutrality Goals
IRENA and National Energy Administration of China sign MoU to advance the transition and cooperate on market development Abu Dhabi, United Arab Emirates : The International Renewable Energy Agency (IRENA), and the National Energy Administration of the People’s Republic of China (NEA) have today agreed to work to strengthen cooperation as the world’s largest renewable […]
