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Abu Dhabi’s Future Energy Company (Masdar) said it has signed a partnership agreement with the International Renewable Energy Agency (Irena) on a major international know-how project that sets out to triple global renewable energy capacity by 2030. method.
The main goal of the project is to establish a global baseline for renewable energy, focusing on solar, wind, hydro, geothermal and other technologies including battery storage, supplemented by region-specific data.
During the UAE Climate Technology Forum in Abu Dhabi, Masdar CEO Mohamed Jameel Al Ramahi and Irena Deputy Director-General Gauri Singh signed a memorandum of understanding to collaborate on a COP28 project that will outline renewable energy by 2030. Global goals for energy.
It was signed in the presence of Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and President-elect of COP28; Dr. Nawal Al Hosany, UAE Permanent Representative to the International Renewable Energy Agency (Irena).
“The world needs to commit to tripling global renewable energy capacity by 2030 and doubling again by 2040,” said Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Masdar Chairman and COP28 Chair-designate.
In the 17 years since the UAE leadership established Masdar in 2006, the cost of a kilowatt-hour of solar power has fallen below 2 cents, and we need to capitalize on this pioneering spirit now more than ever, he said .
He added that Masdar has committed to fivefold its total capacity to 100GW by the end of the decade, and that this joint research project with Irena will highlight the important role of renewable energy in limiting global warming when the world will Gathering at COP28.
Francesco La Camera, Director General of Irena, said: “The transition to renewable energy offers a sustainable and affordable solution to many of the challenges we face today, and we have technologies that can be deployed quickly and at scale. By 2022, A record 300 gigawatts (GW) of renewable energy was added, and renewable energy now accounts for 40% of total global installed capacity.”
“Despite this progress, the energy transition remains off track. IRENA’s World Energy Transition Outlook shows that the deployment of renewable energy must reach 1,000 GW per year to maintain the 1.5°C target,” he said.
La Camera said the project will also highlight the challenges different regions face in meeting their renewable energy targets and provide recommendations for action, especially in the context of COP28.
He said the recent Petersburg Climate Dialogue in Berlin resulted in a clear consensus on global binding targets for reducing global emissions and expanding renewable energy.
Established in 2006, Masdar is a clean energy powerhouse in the UAE, active in more than 40 countries around the world, and has invested in a series of renewable energy projects with a total installed capacity of approximately 20 gigawatts (GW). –trade arab news agency
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