In a significant development for the renewable energy sector, the Utilities for Net Zero Alliance (UNEZA) recently unveiled its comprehensive roadmap to 2030 at the International Renewable Energy Agency (IRENA) Assembly. This roadmap outlines a goal to increase renewable energy capacity to 749 gigawatts (GW) by 2030, reflecting the collective efforts of all alliance members to expand their renewable energy projects. The alliance emphasises the need for improved grid infrastructure to support this growth, which is essential for achieving the broader objective of tripling renewable energy by 2030.
The UNEZA action plan addresses the urgent need for enhanced grid infrastructure to support clean power development, emphasising three critical areas of focus:
- De-risking Supply Chains: The action plan highlights the importance of strengthening supply chains to ensure the rapid deployment of renewable technologies. By enhancing resilience and capacity, utilities can better meet the increasing demand for sustainable energy solutions.
- Facilitating Policy and Regulatory Support: UNEZA calls on policymakers to engage with the industry to create a supportive regulatory environment that encourages investment in clean energy. By tackling regulatory obstacles, the alliance aims to unlock capital flows necessary for infrastructure development.
- Mobilizing Capital: To meet the ambitious goals outlined in the roadmap, UNEZA emphasises the need for innovative financing solutions. The alliance aims to identify financial pathways that will ensure the required investments for modernising grid infrastructure and enabling the energy transition.
IRENA estimates that achieving these goals will require approximately USD 720 billion annually in investments for power grids and flexibility. The UNEZA action plan represents a vital step towards modernizing grid infrastructure, enabling utilities to play a central role in transforming our energy systems and achieving net-zero targets.
By collaborating with various stakeholders, including governments, industry leaders and academic institutions, UNEZA invites companies to join its vision of accelerating the energy transition. Membership is open to utilities, developers, power system technology companies and knowledge partners committed to expediting the shift towards a net-zero future by 2050.
As SKILLBILL continues to support renewable energy initiatives, we recognize the importance of collaborative efforts like UNEZA’s action plan. Stay tuned for more updates on our commitment to sustainable energy solutions and how we can all contribute to a greener future.
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