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IRENA ‘REmap 2030’ report bodes well for renewables
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IRENA ‘REmap 2030’ report bodes well for renewables
T
HE REMAP 2030 study maps out a pathway for doubling the share of renewable energy in the global energy mix based on the technologies that are available today. Energy efficiency and improved energy access can advance the share of renewables in the global energy mix up to 36 per cent, according to the new report. “There is a strong economic case for the renewable energy transition,” said Adnan Z. Amin, IRENA’s director-general. “When considering climate change mitigation, health impact and job creation, the transition practically pays for itself. More renewables in the energy system provide greater flexibility, increase energy independence, and make the system more resilient.” The deployment of modern renewables — renewable energy sources that exclude traditional use of biomass — needs to grow more than threefold, the study shows. What’s also required is a rethinking of energy taxes and subsidies, which is critical to the economic case for renewable energy. Furthermore, a reduction of fossil fuel subsidies will facilitate the uptake of renewables, and subsidies for renewable energy can disappear altogether — if greenhouse gas emissions and other air pollution are reasonably priced. Dolf Gielen, director of IRENA’s Innovation and Technology Centre in
H.E. The Honourable Kevin Rudd, 26th Prime Minister of Australia, discussing the “REmap 2030” report at IRENA’s FT Question Time in Abu Dhabi recently. Panelists included Michael Eckhart, global head of environmental finance and sustainability, Citigroup; Dr José Goldemberg, Professor, University of São Paulo; Paddy Padmanathan, president and CEO, ACWA Power International; and Prof. Dr. Klaus Töpfer, executive director, Institute for Advanced Sustainable Studies (IASS). Bonn, Germany, believes many governments are underestimating the potential of renewables in their planning the for energy transition. “To reach the goal of doubling the share of renewable energy by 2030, additional efforts are needed, particularly in the building, industry and transport sectors,” Gielen explained. IRENA identified five areas of national action:
• Planning realistic but ambitious transition pathways • Creating an enabling business environment • Managing knowledge of technology options and their deployment • Ensuring smooth integration of renewables into the existing infrastructure • Unleashing innovation
Nippon Renewable Energy secures $250m in funding
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IPPON RENEWABLE Energy (NRE) has secured US $250 million to support renewable energy projects across Japan. NRE currently owns and is developing a pipeline of over 300MW of Japanese solar projects, which will be financed with Japan Solar. Four projects in Oita, Hyogo, Hiroshima and Aomori prefectures totalling 47.5MW have been contracted and
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January/February 2014 | Renewable Energy Focus
will commence construction accordingly. These projects are expected to be followed by a further 110MW of projects during 2014. NRE develops each project based on the Ministry of Economy, Trade & Industry (METI) fixed-pricedfeedin-tariff regime, under 20 year power purchase agreements. “Each NRE solar project involves the support of local construction contractors and Japanese utilities, creating sustainable employment
in Japanese rural areas and important local community development,” said Mr Shoichi Kaneda, NRE director. “We are proud to be supporting the future development of Japan in an environmentally responsible manner.” The capital raising was co-led by Equis Funds Group and Partners Group and involved the Equis Asia Fund and Equis co-investors Babson Capital, LGsuper and Qantas Superannuation.
IRENA ‘REmap 2030’ report bodes well for renewables
T
HE REMAP 2030 study maps out a pathway for doubling the share of renewable energy in the global energy mix based on the technologies that are available today. Energy efficiency and improved energy access can advance the share of renewables in the global energy mix up to 36 per cent, according to the new report. “There is a strong economic case for the renewable energy transition,” said Adnan Z. Amin, IRENA’s director-general. “When considering climate change mitigation, health impact and job creation, the transition practically pays for itself. More renewables in the energy system provide greater flexibility, increase energy independence, and make the system more resilient.” The deployment of modern renewables — renewable energy sources that exclude traditional use of biomass — needs to grow more than threefold, the study shows. What’s also required is a rethinking of energy taxes and subsidies, which is critical to the economic case for renewable energy. Furthermore, a reduction of fossil fuel subsidies will facilitate the uptake of renewables, and subsidies for renewable energy can disappear altogether — if greenhouse gas emissions and other air pollution are reasonably priced. Dolf Gielen, director of IRENA’s Innovation and Technology Centre in
H.E. The Honourable Kevin Rudd, 26th Prime Minister of Australia, discussing the “REmap 2030” report at IRENA’s FT Question Time in Abu Dhabi recently. Panelists included Michael Eckhart, global head of environmental finance and sustainability, Citigroup; Dr José Goldemberg, Professor, University of São Paulo; Paddy Padmanathan, president and CEO, ACWA Power International; and Prof. Dr. Klaus Töpfer, executive director, Institute for Advanced Sustainable Studies (IASS). Bonn, Germany, believes many governments are underestimating the potential of renewables in their planning the for energy transition. “To reach the goal of doubling the share of renewable energy by 2030, additional efforts are needed, particularly in the building, industry and transport sectors,” Gielen explained. IRENA identified five areas of national action:
• Planning realistic but ambitious transition pathways • Creating an enabling business environment • Managing knowledge of technology options and their deployment • Ensuring smooth integration of renewables into the existing infrastructure • Unleashing innovation
Nippon Renewable Energy secures $250m in funding
N
IPPON RENEWABLE Energy (NRE) has secured US $250 million to support renewable energy projects across Japan. NRE currently owns and is developing a pipeline of over 300MW of Japanese solar projects, which will be financed with Japan Solar. Four projects in Oita, Hyogo, Hiroshima and Aomori prefectures totalling 47.5MW have been contracted and
8
January/February 2014 | Renewable Energy Focus
will commence construction accordingly. These projects are expected to be followed by a further 110MW of projects during 2014. NRE develops each project based on the Ministry of Economy, Trade & Industry (METI) fixed-pricedfeedin-tariff regime, under 20 year power purchase agreements. “Each NRE solar project involves the support of local construction contractors and Japanese utilities, creating sustainable employment
in Japanese rural areas and important local community development,” said Mr Shoichi Kaneda, NRE director. “We are proud to be supporting the future development of Japan in an environmentally responsible manner.” The capital raising was co-led by Equis Funds Group and Partners Group and involved the Equis Asia Fund and Equis co-investors Babson Capital, LGsuper and Qantas Superannuation.