Renewables Set to Dominate: 65% by 2030, 90% by 2050

01 Nov 2023 CW Team

Singh, who also serves as the president of ISA, extended an invitation to member countries, ISA Partner Organisations, and other entities to collaborate with ISA in driving transformative change. The overarching goal of ISA, as he explained, is to create a sustainable world by promoting solar energy solutions. He stressed the objective of tripling global renewable energy capacity by 2030 and aligning these efforts with the established targets and policies of various countries, including the incorporation of zero and low emission technologies. Furthermore, he encouraged the adoption of blended finance and risk-sharing mechanisms in the renewable energy sector.

In the same event, Chrysoula Zacharopoulou, the Co-President of the Assembly and France's Minister of State for Development, Francophonie, and International Partnerships, praised ISA as a crucial initiative in the fight against climate change. She highlighted the organisation's progress in becoming an efficient and results-oriented entity actively implementing its programs on a global scale, significantly impacting the global solar energy landscape.

Ajay Mathur, the Director General of ISA, noted the encouraging 12 per cent annual growth rate in clean energy investments since 2020, primarily driven by solar and wind power projects. However, he pointed out that this surge in investment is concentrated in a limited number of countries, leaving many developing economies, especially in Africa, underserved.

The inauguration ceremony of the sixth ISA Assembly brought together ministers from 20 countries, delegates from 116 Member and Signatory countries, and representatives from 18 prospective countries, demonstrating a global commitment to advancing renewable energy and combating climate change.

During the inauguration of the Sixth Assembly of the International Solar Alliance (ISA), Union Power and New & Renewable Energy Minister R K Singh shared an optimistic vision for the future of renewable energy. He stated that renewable energy sources have the potential to supply 65 per cent of the world's total electricity by 2030 and could decarbonise up to 90 per cent of the power sector by 2050. Singh emphasised the importance of transitioning to clean energy, particularly in the context of the G20 Summit, which highlighted the urgent need for such a shift. Singh, who also serves as the president of ISA, extended an invitation to member countries, ISA Partner Organisations, and other entities to collaborate with ISA in driving transformative change. The overarching goal of ISA, as he explained, is to create a sustainable world by promoting solar energy solutions. He stressed the objective of tripling global renewable energy capacity by 2030 and aligning these efforts with the established targets and policies of various countries, including the incorporation of zero and low emission technologies. Furthermore, he encouraged the adoption of blended finance and risk-sharing mechanisms in the renewable energy sector. In the same event, Chrysoula Zacharopoulou, the Co-President of the Assembly and France's Minister of State for Development, Francophonie, and International Partnerships, praised ISA as a crucial initiative in the fight against climate change. She highlighted the organisation's progress in becoming an efficient and results-oriented entity actively implementing its programs on a global scale, significantly impacting the global solar energy landscape. Ajay Mathur, the Director General of ISA, noted the encouraging 12 per cent annual growth rate in clean energy investments since 2020, primarily driven by solar and wind power projects. However, he pointed out that this surge in investment is concentrated in a limited number of countries, leaving many developing economies, especially in Africa, underserved. The inauguration ceremony of the sixth ISA Assembly brought together ministers from 20 countries, delegates from 116 Member and Signatory countries, and representatives from 18 prospective countries, demonstrating a global commitment to advancing renewable energy and combating climate change.