Archive for December, 2024

Conversations from COP

Friday, December 13th, 2024

Conversations from COP

COP29 may now be behind us, but the momentum continues as we gear up to accelerate renewable energy ambitions for 2025. Our time in Baku highlighted a clear priority: aligning the x3 RES goal with finance by creating funding models that effectively mobilise capital and support the scale-up of clean energy solutions.

In this newsletter, dive into our reflections on COP29 and some of our project highlights from 2024.

Community Spotlight

Catalysing Renewable Energy Investment in Nigeria

The African Climate Foundation (ACF) and Konexa have launched Nigeria’s first private renewable electricity trading platform, a groundbreaking step towards clean energy.

Konexa will source renewable power from independent power producers and sell directly to private clients. Its first client, Nigeria Breweries PLC, is transitioning two facilities to 100% renewable energy, cutting 8,000+ tons of CO2 annually.

With ACF’s strategic support, they plan to unlock new investment opportunities and to scale this financing model – showcasing how early-stage funding and philanthropic support can catalyse large-scale private-sector investment. Read more about this project here.

The Great Solar Rush in Pakistan

Pakistan is witnessing an unprecedented surge in solar energy adoption, transforming its power sector and reshaping its energy landscape.

Over the past four years, the country imported $4.5 billion worth of solar panels, including 17 GW from China in 2023-2024 alone. Grid electricity demand fell by 10% in 2023 and is expected to decline further, with BNEF estimating that the country will install 10-15GW of solar this year alone, mainly on homes and factories. These trends underpin the growing impact of decentralised solar adoption!

The most striking development is the rise of off-grid solar, particularly in agriculture, where adoption is two to three times higher than net-metered systems. This shift away from diesel dependency signals a move toward energy self-sufficiency and resilience, fundamentally altering how Pakistan produces and consumes electricity.

With electricity tariffs soaring by 155% in just three years, solar power offers households and businesses a lifeline to reduce costs. For industries, particularly exporters, it provides a competitive edge and aligns with global sustainability standards.

Our partner Tara Climate Foundationhelped to lay the groundwork for this surge by supporting diverse partners to raise awareness about the opportunities of solar and contribute to discussions shaping policies that enabled the widespread and affordable access to panels – work which started several years prior to this solar boom taking off.

The rapid adoption of solar energy in Pakistan isn’t just an environmental milestone – it’s a reimagination of the nation’s energy economy. Read more about it in Tara Partner Renewables First’s report here.

Highlights from COP

Powering a Just and Resilient Future: Showcasing Global Leadership in Renewable Energy

Rebecca Collyer, Executive Director of ReNew2030, chaired the energy segment of the High-Level Climate Champions and Marrakech Partnership.

The session highlighted pioneering efforts by Mauritania, Colombia, and the UAE to integrate renewable energy with sustainable cooling solutions. It presented original data on grid modernisation, storage deployment, and climate-aligned investments, all contributing to transformative NDC implementation!

Article content

ReNew2030’s COP29 event: Powering the Path to 1.5°C: Scaling Renewables with Community-Centered Solutions

At the Regional Climate Foundations Pavilion, we hosted an event highlighting transformative global initiatives with the potential to reshape the renewable landscape.

Our partners Saliem Fakir (African Climate Foundation), Prof Zou Ji (Energy Foundation China), and Luisa Sierra (Iniciativa Climática de México) shared scalable initiatives emphasising community engagement, infrastructure deployment, and financial mobilisation.

Article content

TeraMed’s Call to Action at We Don’t Have Time

ReNew2030 participated in an interview with We Don’t Have Time, where Deborah Ramalope and Hajar Khamlichi (PIE) highlighted key barriers to renewable energy adoption and the levers we’re deploying to overcome them.

They also discussed the TeraMed initiative ,which calls on governments to action around key priority areas, highlighting the opportunities of an accelerated and equitable energy transition in the Mediterranean for broader sustainable development and socio-economic benefits across the region and neighbouring areas.

“Cost is no longer the biggest barrier – the approach that ReNew2030 is taking is straightforward: we have identified key barriers, such as insufficient government ambition, insufficient funding and misinformation, and we deploy levers to address these barriers” – Deborah Ramalope, ReNew2030

“We brought together a multi stakeholder platform and developed the TeraMed initiative: a call for action to 1TW renewable energy capacity toward 2030 in the Mediterranean region” – Hajar Khamlichi, PIE

ReNew2030 has backed the TeraMed call for action, along with ministers from Italy, Spain, and Egypt, who joined us at COP to support this bold vision for a sustainable future!

The TeraMed region is an example of how an area with naturally abundant renewable resources can drive a new dynamic to power sustainable development and innovative climate solutions. Watch the whole interview here.

Article content

Solar’s Unstoppable Potential on TED Radio Hour

On Energy Day, Rebecca Collyer joined Manoush Zomorodi on TED Radio Hour to discuss how solar energy is driving the energy revolution and what challenges remain.

Highlighting initiatives, such as the Noor Ouarzazate Concentrated Solar Plant in Morocco, she explored how scaling solar, both utility and distributed, can unlock transformative climate solutions. Listen to the full episode here.

Conversations from COP

COP29 delivered mixed outcomes, with significant obstacles remaining.

Finance took centre stage at this year’s COP, as developing countries expressed concerns over insufficient funding and vague delivery mechanisms. The absence of inflation-adjusted commitments and limited public finance to de-risk investments further underscored these gaps. Most notably, the goal of tripling RE capacity by 2030 faces a substantial financial gap. The $300 billion pledged falls far short of what’s needed. To move forward, innovative strategies are essential for attracting private capital and reducing investment costs in emerging and developing markets.

While COP facilitates global dialogue and consensus-building, real progress hinges on aligning climate goals with socio-economic development, particularly in developing nations. Initiatives like ReNew2030 illustrate how localised solutions can mobilise financial systems and drive tangible progress.

Looking ahead, accelerating the energy transition requires stronger governmental commitments in critical areas such as grid modernisation, expansion of storage solutions, and improved integration of renewables into energy systems. Establishing detailed and actionable strategies is crucial to closing the gap between ambition and implementation. This aligns with ReNew2030’s mission, which deploys strategic levers to raise ambition and mobilise financial systems for scaling renewable energy solutions.

From the Blog: Fresh Insights on Renewable Energy

Overcoming Barriers to Renewable Investments: We engaged with partners and experts from grassroots movements to policy think tanks to explore the barriers to accessing funding for a just energy transition. Read more here.
Building Support for Energy Transition through Communities: As we support energy community projects across the globe, our partner the European Climate Foundation, interviewed individuals leading these initiatives in Europe. Read more here.

We asked people behind community-based energy projects how to gather wider support for the energy transition

Thursday, December 5th, 2024

We asked people behind community-based energy projects how to gather wider support for the energy transition

The journey towards clean energy in Europe has made major strides, but it is not always a smooth journey. Public resistance to renewable energy projects and related infrastructure risks slowing down the transition, at a time when both speed and scale are crucial for effective climate action. At ReNew2030, we believe the key to overcoming these challenges lies in effectively engaging and supporting communities throughout the transition process. The 2023 Barometer reveals that 93% of EU citizens recognise climate change as a serious problem. Yet, few have the opportunity to translate this concern into concrete action. This is where community-based energy projects come in.

As we’ve actively engaged with and fostered the development of community-based energy initiatives for years, we’ve met the citizens behind these projects. On top of empowering people to take climate action, saving money, and building communal ties, energy communities have been described by our partners as one of the best ways to gather support for the energy transition, by making these benefits tangible in people’s day-to-day lives.

Decades of success stories in Europe: energy communities as a working model to be deployed

Energy communities are citizen-powered renewable energy initiatives where locals collectively own and manage their own clean power projects – like neighbourhood solar panels or community wind turbines – allowing them to be both producers and consumers of their energy while building a more sustainable, democratic energy future.

Energy communities have been gaining traction across Europe for decades, driven by proactive individuals and groups seeking to take control of their energy production and use. These projects enable citizens, small businesses, and local organisations to actively participate in the energy transition, offering a range of benefits such as lower energy bills, increased independence, and local development opportunities.

The emergence of these communities typically follows a bottom-up approach, where a group of motivated individuals comes together to garner support for creating a structured energy system tailored to their specific needs and aspirations. Research indicates that over 900,000 people across the EU are already involved in energy communities, with tremendous potential for further growth.

The European Climate Foundation (ECF), one of ReNew2030’s long-standing partners, recognised the potential of community-based energy projects in helping advance the energy transition as early as 2015. ECF’s vision is rooted in the belief that the energy transition should be fair and inclusive, actively involving communities in the process. Nearly a decade later, ECF’s Energy Democracy network gathers more than 25 partners, bringing together NGOs and energy cooperatives, across 14 European countries.

Partners across Europe have shared that positive support for the emergence of additional energy communities across Europe comes through early consultations with the community, an encouraging legal framework at national and European level, and the sharing of local best practices.

Energy communities ensures people own and benefit from energy transition

The socio-economic benefits of energy communities are a prime focus – from lowering energy bills to fostering local development. By creating these benefits, energy communities turn their participants in allies of the energy transition as a whole, fostering wider public support for the energy transition. As energy communities are platforms for raising knowledge about renewable energy among participants, they also empower these individuals to become advocates for sustainable change.

The current Danish landscape offers a telling example – in this country, 52% of the existing wind capacity operates under some form of citizen ownership. This model has not only empowered individuals but has also significantly bolstered public support for renewable energy. When people participate in or own energy projects, they are more likely to appreciate the benefits and accept potential drawbacks. Ownership, in particular, further strengthens acceptance and enthusiasm.

To meet our climate goals and stay within planetary boundaries, the share of renewable energy in the global power mix will have to increase from 28% in 2020 to 68% by 2030. To deploy this massive increase in renewable energy production, we need to secure citizens’ buy-in and support behind the changes that will drive a clean, safe energy system. Community energy projects, for all the benefits they provide to participants, can play a key role in this system-change.