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New Program to Accelerate Expansion of Offshore Wind Power in Developing Countries

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The World Bank Group announced today a new program to fast-track the adoption of offshore wind energy in developing countries. The World Bank and IFC will help emerging markets assess their offshore wind potential and provide technical assistance to develop a growing pipeline of projects that are ready for investment by renewable energy developers.

The offshore wind industry has grown nearly five-fold since 2011, with 23 gigawatts installed at the end of 2018 and a large volume of planned projects in Europe, China and the United States. Offshore wind now represents about $26 billion in annual investments – or 8 percent of new global investments in clean energy – and this proportion is set to increase dramatically, with about $500 billion expected to be invested in offshore wind projects by 2030.

This represents an important opportunity for countries with strong offshore wind resources, including Brazil, Indonesia, India, the Philippines, South Africa, Sri Lanka, and Vietnam. Offshore wind can also provide additional clean generation capacity for developing countries with populations living without access to reliable electricity.

Vietnam’s technical potential for fixed and floating offshore wind is 309 GW, while South Africa and Brazil have 356 GW and 526 GW in total technical offshore wind potential respectively. This represents a significant opportunity for cost-competitive, large-scale fixed or floating offshore wind projects located close to areas of high energy demand.

“Offshore wind is a clean, reliable and secure source of energy with massive potential to transform the energy mix in countries that have great wind resources. We have seen it work in Europe – we can now make use of global experience to scale up offshore wind projects in emerging markets,” said Riccardo Puliti, Senior Director and Head of Energy and Extractives at the World Bank.

“We see great opportunity for offshore wind development at scale and are looking forward to working with private sector developers to open up new investment opportunities in countries that could benefit from this increasingly competitive source of renewable energy,” said Bertrand de la Borde, IFC Director and Global Head of Energy and Mining.

“The UK is a world leader in offshore wind, with the largest installed capacity in Europe,” said Energy & Clean Growth UK Government Minister, Claire Perry. “This investment will allow our world-leading expertise to be shared globally to encourage developing countries to move away from dirty coal power and embrace renewable energy, growing their economies.”

Led by the World Bank’s Energy Sector Management Assistance Program (ESMAP), in partnership with IFC, the US$5 million program is being initiated thanks to a GBP£20 million grant to ESMAP from the United Kingdom government to help low- and middle-income countries implement environmentally sustainable energy solutions.

This work will take place in cooperation with the Global Wind Energy Council (GWEC) and its recently-formed Offshore Wind Task Force which brings together leading offshore wind developers, equipment manufacturers and service providers.

The program will convene developing country governments, commercial developers, development partners, and wind energy experts to raise awareness around offshore wind opportunities in emerging markets and lay the groundwork for a pipeline of new projects that could be supported by World Bank or IFC financing. The World Bank and IFC will work with public and private sector partners to undertake technical studies and develop national strategies to facilitate the adoption of this increasingly cost-competitive technology.

The Global Wind Atlas, developed in partnership by ESMAP and Department of Wind Energy at the Technical University of Denmark and with 30km coverage offshore at 250m resolution, is a key resource that can help policymakers and investors identify potential high-wind areas for wind power generation virtually anywhere in the world.

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IRENA and RES4Africa Partner to Accelerate Renewables in Africa

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IRENA and the RES4Africa Foundation have agreed to cooperate to increase the speed of renewable energy development in Africa in the pursuit of the continent’s sustainable development and climate goals. The ‘Letter of Intent’ signed on 15 July 2019 in Rome, will see the two parties work together to explore public-private initiatives, knowledge creation opportunities, capacity building programmes and strategic dialogues to accelerate renewable energy deployment in Africa.

With more than 620 million Africans – nearly half the continent’s population – still without access to electricity, the RES4Africa Foundation works to address the water-energy-food nexus and promote the adoption of renewable energy in Africa. IRENA estimates the continent could meet nearly a quarter of its energy needs from indigenous and clean renewable energy by 2030, but to realise this potential a step-up in renewable energy action is necessary.

“To achieve the sustainable development goals and tackle climate change we must grow the share of global energy supplied by renewables to 50 per cent by mid-century,” said Francesco La Camera, Director-General of IRENA during the signing event. “That requires a significant scale up of renewable energy deployment. Stronger partnerships can accelerate the energy transformation lifting millions of people in rural villages across Africa out of energy poverty and delivering socioeconomic outcomes.”

Growing engagement in Africa

IRENA’s engagement with Africa on renewables dates back to the Agency’s formation nearly a decade ago. A key component of IRENA’s engagement and its effort to promote regional market integration in Africa, has been through the development of the Clean Energy Corridors. IRENA’s work informed the objectives of the African Renewable Energy Initiative (AREI), which now targets to develop 300 gigawatts of renewable energy capacity across the continent by 2030.

IRENA analysis suggests a transformation of Africa’s energy sector with renewables by 2030, would result in carbon-dioxide emission reductions of up to 310 megatonnes per annum and create millions of jobs across the continent.

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IRENA Puts Renewables Centre-Stage at UN High- Level Meeting

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‘There can be no sustainable development without renewables’ – that was the takeaway from the 17th IRENA Council which concluded recently in Abu Dhabi. It was a message the Agency’s Director-General Francesco La Camera reinforced at every opportunity and a message that will once again take centre-stage during the United Nations High-Level Political Forum (HLPF) on Sustainable Development in New York this and next week.

The UN High-Level Political Forum takes place at the UN Headquarters in New York from 09–18 July 2019. Progress on six of the seventeen Sustainable Development Goals (SDGs) will be reviewed. Renewable energy plays a prominent role in goals being discussed this year, particularly those promoting sustained, inclusive and sustainable economic growth (SDG8); taking urgent action to combat climate change and its impacts (SDG13); and promoting peaceful and inclusive societies for sustainable development (SDG16).

Director-General Francesco La Camera will attend the Forum to engage dignitaries and IRENA members and partners. Mr. La Camera will also participate in a series of high-level discussions on topics including scaling-up climate action through the energy transformation and accelerating the energy transition in small island developing states.

Mr. La Camera will highlight the inter-linkages between the goals under review and access to affordable, reliable and modern energy for all (SDG7), a focus of  the last year’s HLPF. The essential role of renewable energy in powering growth, empowering people, and taking climate action will also be emphasised.

IRENA at HLPF

On 16 July, IRENA’s High-level side event on ‘Scaling up climate action through clean energy transitions: Delivering on the Paris Agreement and the SDGs’ will be co-convened by UN DESA, the European Union, and the Permanent Mission to the UN of the Federal Democratic Republic of Ethiopia. Building on findings and outcomes from reports and meetings, including the 2019 Tracking SDG7 Energy Progress Report and Climate Summit preparatory meeting in Abu Dhabi, outcomes from this discussion will feed into the UN Secretary-General’s Climate Action Summit and the SDG Summit in September 2019.

On 17 July, the High-level Side event on Scaling-Up Energy Transition in Small Island Developing States, will mark the launch of the policy brief on ‘Achieving SDG 7 in Small Island Developing States’ and pave the way for the Mid-term Review of the SAMOA Pathway taking place in September 2019. Organised by Saint Lucia, Samoa, Maldives, UN-OHRLLS and IRENA, the event will take stock of energy transition developments and renewable energy uptake in SIDS and explore the vital elements in making progress in the area of sustainable energy.

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IEA hosts high-level meeting on technologies for a clean energy future

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The discussion at the event was informed by two recent major reports from the IEA about nuclear power and hydrogen. Photo: IEA

The International Energy Agency on 11 July hosted a discussion among leading global energy sector figures about technologies that can help to bring about a clean energy future, including hydrogen and nuclear power.

The main speakers at the event were Dan Brouillette, Deputy US Energy Secretary; Jean-Bernard Lévy, Chairman and CEO of EDF; Hiroshi Oe, Japanese Ambassador to the OECD and Chair of the IEA Governing Board; and Dominique Ristori, Director-General Energy at the European Commission.

The discussion at the IEA’s headquarters in Paris was informed by two recent major reports from the IEA: Nuclear Power in a Clean Energy System and The Future of Hydrogen: Seizing Today’s Opportunities.

At a time of profound change in the global energy sector, countries will require all the tools at their disposal to meet their commitments to tackling emissions and air pollution while maintaining energy security.

“I’d like to thank our speakers for the robust and rewarding conversation,” said Dr Fatih Birol, the IEA’s Executive Director, who hosted the event. “There is no miracle technology that will solve the daunting environmental challenges the world faces. We need continued innovation across a range of technologies, including renewables, energy efficiency, batteries, carbon capture and more. The IEA sees hydrogen and nuclear power as important parts of clean energy transitions in many countries, but they need help from governments to overcome significant obstacles.”

Nuclear power is by far the largest source of low-carbon electricity in both Europe and North America, but many of their plants are aging. Without effective policies to spur new investment, advanced economies could lose as much as two-thirds of their nuclear capacity in the next 20 years, threatening global climate goals and energy security.

Hydrogen, which is currently enjoying unprecedented momentum, can help tackle various critical energy challenges. It offers ways to decarbonise a range of sectors where it is proving difficult to meaningfully reduce emissions, including long-haul transport, chemicals, and iron and steel. Hydrogen’s ability to store and transport energy could enable renewables to make a greater contribution to the global energy system. But it has experienced false starts in the past and still faces big challenges to scale up infrastructure and bring down costs.

The meeting on 11 July to discuss these important energy issues highlights the IEA’s role as the world’s leading energy authority and its commitment to covering all fuels and all technologies. Guests included Lithunia’s Minister of Energy Žygimantas Vaičiūnas. Lithuania has requested to join the IEA as a member country and the accession process has begun.

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