Faster Renewable Expansion Needed: IRENA

12 Jul 2024 CW Team

IRENA's latest report highlights that despite progress in renewable energy adoption, the pace of growth must triple to align with the targets set in the Paris Agreement. The report stresses that renewable energy sources such as solar, wind, and hydropower must be scaled up rapidly to mitigate the impacts of climate change and transition to a low-carbon economy.

One of the key challenges identified by IRENA is the need for substantial investment in renewable energy infrastructure. This includes not only the installation of new renewable energy capacity but also the enhancement of grid infrastructure and storage solutions to manage the variability of renewable energy sources. The agency calls for coordinated efforts from governments, private sector entities, and financial institutions to mobilize the necessary capital and resources.

Furthermore, IRENA underscores the importance of supportive policies and regulatory frameworks to facilitate the rapid deployment of renewable energy technologies. These policies should include incentives for renewable energy projects, streamlined permitting processes, and mechanisms to integrate renewable energy into existing energy systems.

The report also highlights the role of technological innovation in driving the expansion of renewable energy. Advances in energy storage, grid management, and renewable energy technologies can significantly enhance the efficiency and reliability of renewable energy systems, making them more viable and cost-effective.

IRENA's call to action comes at a critical time as the world faces the dual challenges of climate change and energy security. By accelerating the transition to renewable energy, countries can reduce greenhouse gas emissions, create sustainable economic opportunities, and improve energy access for millions of people worldwide.

The International Renewable Energy Agency (IRENA) has emphasized the urgent need for an accelerated expansion of renewable energy to meet global 2030 targets, as reported by the Economic Times. According to IRENA, current efforts are insufficient, and a substantial increase in the deployment of renewable energy technologies is crucial to achieving climate goals and ensuring sustainable development. IRENA's latest report highlights that despite progress in renewable energy adoption, the pace of growth must triple to align with the targets set in the Paris Agreement. The report stresses that renewable energy sources such as solar, wind, and hydropower must be scaled up rapidly to mitigate the impacts of climate change and transition to a low-carbon economy. One of the key challenges identified by IRENA is the need for substantial investment in renewable energy infrastructure. This includes not only the installation of new renewable energy capacity but also the enhancement of grid infrastructure and storage solutions to manage the variability of renewable energy sources. The agency calls for coordinated efforts from governments, private sector entities, and financial institutions to mobilize the necessary capital and resources. Furthermore, IRENA underscores the importance of supportive policies and regulatory frameworks to facilitate the rapid deployment of renewable energy technologies. These policies should include incentives for renewable energy projects, streamlined permitting processes, and mechanisms to integrate renewable energy into existing energy systems. The report also highlights the role of technological innovation in driving the expansion of renewable energy. Advances in energy storage, grid management, and renewable energy technologies can significantly enhance the efficiency and reliability of renewable energy systems, making them more viable and cost-effective. IRENA's call to action comes at a critical time as the world faces the dual challenges of climate change and energy security. By accelerating the transition to renewable energy, countries can reduce greenhouse gas emissions, create sustainable economic opportunities, and improve energy access for millions of people worldwide.

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Equipment

10 Mar 2026

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

Equipment

10 Mar 2026

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..