ABU DHABI: Dr Jimmy Gasore, the Minister of Infrastructure of Rwanda on Wednesday made further arrangements for work to be undertaken by countries at global level so as to triple the installed renewable capacity from around 3,400 GW today to over 11,000 GW by 2030.
Presiding over the 14th International Renewable Energy Agency (IRENA) Assembly currently taking place in Abu Dhabi, UAE, Dr Gasore remarked that countries continue to witness the dynamic interplay between the energy sector and climate change, which underscores the need to be flexible and innovative in global response.
It is essential to continue adpting our implementation strategies that facilitate “fit for purpose” innovative energy transition solutions,” he said while expressing that IRENA Assembly will translate this momentum into action.
A new report released Wednesday on the sidelines by the International Renewable Energy Agency (IRENA) shows that the transition away from fossil fuels to renewables requires a new interpretation of the concept of energy security.
The report entitled: “Geopolitics of the energy transition: Energy security”, states that cross-border trade in electricity will rise in prominence, fostering mutual benefits, in contrast to the asymmetric dependencies of the oil and gas sector.
The latest World Energy Transitions Outlook indicates that renewables would comprise three-quarters of the global energy mix by 2050. Projections show that electricity would also become the main energy carrier, meeting more than 50% of consumption by 2050. The renewables-based system is characterised by high electrification and efficiency, complemented by green hydrogen and sustainable biomass.
Commenting on the new findings, IRENA Director-General, Francesco La Camera, said: “The energy system is undergoing a profound transformation, and renewables are bound to bring greater resilience through decentralisation and greater reliance on domestic sources”
“It is vital to proactively shape this resilience with foresighted policies and investments. While lessons from the fossil fuel era can inform some aspects of the transition, a holistic approach that considers the unique attributes of renewables and modernises economic, social, and diplomatic strategies is necessary,” he said.
While the energy demand, particularly in Africa and Asia, has profound geopolitical implications for global energy markets, trade patterns and strategic alliances, the report stresses that managing the situation through energy efficiency policies and investments could help mitigate competition over resources and markets.
Furthermore, security and political considerations will hold the key to the successful deployment of the infrastructure required to support flexible renewables-based energy systems, it said.
This infrastructure, according to energy experts must he highly resilient to extreme weather events, while cyber threats, physical attacks or, a combination of both, rains prominence in highly electrified and digitilised systems.
The new findings not only provides evidence that that renewables should be leveraged to provide cost-efficient, integrated and reliable solutions for climate adaptation but also human security will be equally important, particularly for energy end-users, including in the areas of water and food insecurity, disease, economic marginalisation, inequality and energy poverty.
Energy security in a renewables-based era will need to evolve in several key areas, it said.
Experts believe that tripling renewable capacity by 2030 is an ambitious yet achievable goal.
It said that for putting renewables on track to meet the 2030 capacity target – though it will require stronger policy actions by governments, notably to ensure resilient technology supply chains, secure and cost-effective system integration of solar PV and wind, and renewables deployment in many more emerging and developing economies.
