In a landmark announcement at the 14th Assembly of the International Renewable Energy Agency (IRENA), the Utilities for Net Zero Alliance (UNEZA) has unveiled an ambitious roadmap aimed at tripling global renewable energy capacity by 2030. This bold initiative, termed the UNEZA Roadmap to 2030, sets a target of 749GW of renewable energy capacity within alliance portfolios, representing a significant surge from the 2023 figures.
At the heart of this roadmap lies a comprehensive grid infrastructure action plan, designed to modernize and scale global grid networks to support the rapid expansion of clean power sources. According to estimates by IRENA, an annual investment of around US$720 billion in power grids and flexibility is imperative to limit global warming to 1.5°C.
In a joint statement, chief executives of UNEZA emphasized the critical importance of enabling grid infrastructure and called upon the policy and regulatory community to collaborate with industry stakeholders to address bottlenecks and facilitate capital flows. Martin Pibworth, Chief Commercial Officer at SSE and co-chair of UNEZA, stressed the collaborative effort required, stating, “Our combined plans for accelerating renewables deployment will go a long way towards achieving our 2030 goal, but we also know that utilities can't do it alone.”
IRENA Director-General Francesco La Camera commended the initiative, highlighting the necessity of modernizing infrastructure to support the transition to a renewables-based energy system. La Camera stated, “The announcement of a grid infrastructure action plan by the Utilities for Net Zero Alliance is a significant step to addressing this urgent need, showcasing the central role that utilities can play in transforming our energy systems and realizing net zero targets.”
The UNEZA action plan is multifaceted, focusing on de-risking supply chains, facilitating policy and regulatory support, and mobilizing capital to accelerate the deployment of renewable energy technologies. This comprehensive approach underscores the commitment of UNEZA members to drive meaningful progress towards a sustainable energy future.
The announcement at the 14th IRENA Assembly Ministerial Roundtable underscores the growing momentum behind renewable energy initiatives on the global stage. With concerted efforts from both public and private sectors, the vision of a renewables-dominated energy landscape by 2030 appears increasingly attainable.
