irena

IRENA has found that the world’s renewable power capacity will need to increase by 16.4%, year-on-year, to meet the world’s climate targets.

Record renewables capacity additions and the progress in the energy transition last year are insufficient to meet the 1.5°C scenario.

A new report into the world’s clean energy transition, has called for an expansion of global solar capacity to 5.4TW by 2030.

An IRENA report into the cost of producing power has found that the levelised cost of electricity in the solar PV sector fell by 3% in 2022.

The International Renewable Energy Agency has called for the world to add 551GW of solar capacity per year by 2030.

Masdar has reached financial close on three PV facilities in Uzbekistan with a combined capacity of approximately 877MW.

IRENA believed that yearly investments must more than quadruple to over US$5 trillion to stay on the 1.5°C pathway.

IRENA said a total of 192GW of solar capacity was installed in 2022, up 22% yoy.

Solar PV will lead the energy transition in Malaysia and could reach up to 153GW of installed capacity by 2050.

Solar PV will play a more important role in Nigeria’s power supply as it plans to meet the growing needs of all sectors of its economy through renewables.