Latest news with #FrancescoLaCamera
Zawya
04-08-2025
- Business
- Zawya
International Renewable Energy Agency (IRENA) Director-General to Deliver Keynote Speech at African Mining Week (AMW) 2025
Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA), has confirmed his participation at the upcoming African Mining Week (AMW) conference – Africa's premier gathering for mining stakeholders. La Camera will deliver a keynote address titled Critical Minerals: Driving Renewable Development in Africa. His address is expected to spotlight Africa's pivotal role in the global clean energy revolution, underpinned by the continent's 30% share of global critical and energy transition minerals such as copper, cobalt, rare earths and lithium. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ As the head of the global intergovernmental body advancing knowledge and the adoption of renewable energy, La Camera's participation underscores Africa's growing influence as a key enabler of the global energy transition. African countries rich in energy transition minerals are already ramping up production to meet surging global demand. The Democratic Republic of Congo, which holds the world's largest cobalt reserves essential for the development of battery storage, is pursuing reforms to unlock its estimated $24 trillion worth of mineral resources. Zambia, a key copper supplier, aims to boost copper output to three million tons per year by 2031, while Zimbabwe – Africa's top lithium producer – is implementing measures to scale production and promote local manufacturing of lithium-ion batteries. La Camera's keynote is expected to highlight efforts by African markets as well as a broader roadmap for the continent to harness its mineral wealth for sustainable energy growth. Amid the global push to accelerate renewables adoption for environmental sustainability, improved energy access and industrial growth - particularly in mining – AMW offers a strategic platform for IRENA to share insights on Africa's progress and highlight best practices to fast-track renewable energy penetration across the continent. According to IRENA's latest report Renewable Energy Statistics 2025, global renewable energy capacity grew by 15% in 2024, with Africa recording a 7.2% increase. Mining companies are increasingly turning to renewables to power operations with firms such as Northam, Richards Bay Minerals, Ivanhoe Mines, First Quantum Minerals and Trafigura integrating renewables to ensure reliable and cost-effective power supply for their operations. Against this backdrop, La Camera is poised to spotlight the vast opportunities emerging at the intersection of Africa's mining and renewable energy sectors. Distributed by APO Group on behalf of Energy Capital&Power.
Time of India
24-07-2025
- Business
- Time of India
Renewables outshine fossil fuels in 2024, cut $57 bn in costs: Report
New Delhi: Renewable energy technologies continued to outcompete fossil fuels on cost in 2024, with global savings from avoided fossil fuel use estimated at $ 57 billion, according to the International Renewable Energy Agency ( IRENA ). The agency's latest Renewable Power Generation Costs report shows that 91% of new renewable capacity commissioned last year was more cost-effective than the cheapest fossil fuel options. Cost advantage widens; solar and wind lead In 2024, onshore wind projects had the lowest average cost of new renewable power at $ 0.034/kWh, while solar photovoltaic (PV) projects averaged $ 0.043/kWh. These rates made solar PV 41% cheaper and onshore wind 53% cheaper than the lowest-cost fossil fuel alternatives. The year saw the addition of 582 gigawatts of renewable capacity. 'The cost-competitiveness of renewables is today's reality,' said IRENA Director-General Francesco La Camera. 'Looking at all renewables currently in operation, the avoided fossil fuel costs in 2024 reached up to $ 467 billion.' Financing and grid remain key constraints Despite the cost advantages, IRENA flagged persistent challenges in deploying renewables at scale. The agency pointed to rising financing costs, geopolitical tensions, trade tariffs, and grid bottlenecks—particularly in G20 and emerging markets—as potential headwinds. 'This progress is not guaranteed,' La Camera added. 'To safeguard the gains of the energy transition, we must reinforce international cooperation, secure open and resilient supply chains, and create stable policy and investment frameworks—especially in the Global South.' Structural barriers impact Global South IRENA's report highlights how higher capital costs in the Global South inflate the levelized cost of electricity (LCOE). For instance, while the generation cost of onshore wind in both Africa and Europe was around $ 0.052/kWh in 2024, financing costs made up a significantly higher share in Africa. The agency assumed cost of capital at 3.8% in Europe and 12% in Africa. 'Clean energy is smart economics – and the world is following the money,' said UN Secretary-General António Guterres. 'Leaders must unblock barriers, build confidence, and unleash finance and investment.' Storage, AI, and hybrid systems improving performance IRENA also reported that battery energy storage system (BESS) costs have dropped by 93% since 2010, reaching $ 192/kWh for utility-scale systems in 2024. Alongside hybrid systems that combine solar, wind and storage, AI-enabled digital tools are helping improve asset performance and grid responsiveness. However, integration costs due to grid connection delays and permitting continue to hamper deployment. IRENA warned that without major investment in digital infrastructure and grid modernisation, emerging markets may not realise the full potential of renewables.
Shafaq News
23-07-2025
- Business
- Shafaq News
Baghdad, IRENA deepen cooperation on sustainable energy
Shafaq News – Baghdad On Wednesday, the Director-General of the International Renewable Energy Agency (IRENA), Francesco La Camera, arrived in Baghdad for high-level talks with Iraqi officials on expanding renewable energy cooperation. La Camera met Prime Minister Mohammed Shia al-Sudani to review IRENA's forthcoming assessment report on Iraq's energy transition. Prepared in collaboration with Iraqi institutions, the report outlines national priorities for renewable energy and efficiency. Al-Sudani praised IRENA's support and affirmed the government's commitment to adopting the report's recommendations within national policy frameworks. Later, La Camera met with Electricity Minister Ziyad Fadel, who highlighted major clean energy projects, including the 1,000-megawatt Shams Basra (Basra Sun) solar plant and additional ventures in Karbala, Babylon, and Najaf. Fadel noted that Iraq is coordinating efforts with the Oil and Environment Ministries to cut emissions and meet climate obligations. La Camera welcomed Iraq's progress, calling its solar initiatives a promising step toward sustainable energy development.
Gulf Today
23-07-2025
- Business
- Gulf Today
91% of new renewable projects now cheaper than fossil fuels alternatives
Renewables maintain their cost leadership in global power markets, IRENA's new report on Renewable Power Generation Costs in 2024 confirms. The report confirms that renewables maintained their price advantage over fossil fuels, with cost declines driven by technological innovation, competitive supply chains, and economies of scale. In 2024, solar photovoltaics (PV) were, on average, 41% cheaper than the lowest-cost fossil fuel alternatives, while onshore wind projects were 53% cheaper. Onshore wind remained the most affordable source of new renewable electricity at US$0.034/kWh, followed by solar PV at US$ 0.043/kWh. The addition of 582 gigawatts of renewable capacity in 2024 led to significant cost savings, avoiding fossil fuel use valued at about US$57 billion. Notably, 91% of new renewable power projects commissioned last year were more cost-effective than any new fossil fuel alternatives. Renewables are not only cost-competitive vis-a-vis fossil fuels but are advantageous by limiting dependence on international fuel markets and improving energy security. The business case for renewables is now stronger than ever. While continued cost reductions are expected as technologies mature and supply chains strengthen, short-term challenges remain. Geopolitical shifts including trade tariffs, raw material bottlenecks, and evolving manufacturing dynamics, particularly in China, pose risks that could temporarily raise costs. Higher costs are likely to persist in Europe and North America, driven by structural challenges such as permitting delays, limited grid capacity, and higher balance-of-system expenses. In contrast, regions like Asia, Africa, and South America, with stronger learning rates and high renewable potential, could see pronounced cost declines. United Nations Secretary-General António Guterres said, 'Clean energy is smart economics – and the world is following the money. Renewables are rising, the fossil fuel age is crumbling, but leaders must unblock barriers, build confidence, and unleash finance and investment. Renewables are lighting the way to a world of affordable, abundant, and secure power for all.' IRENA Director-General Francesco La Camera added, 'The cost-competitiveness of renewables is today's reality. Looking at all renewables currently in operation, the avoided fossil fuel costs in 2024 reached up to US$ 467 billion. New renewable power outcompetes fossil fuels on cost, offering a clear path to affordable, secure, and sustainable energy. This achievement is the result of years of innovation, policy direction, and growing markets. However, this progress is not guaranteed. Rising geopolitical tensions, trade tariffs, and material supply constraints threaten to slow the momentum and drive-up costs. To safeguard the gains of the energy transition, we must reinforce international cooperation, secure open and resilient supply chains, and create stable policy and investment frameworks—especially in the Global South. The transition to renewables is irreversible, but its pace and fairness depend on the choices we make today.' IRENA's 2024 report also explores the structural cost drivers and market conditions shaping renewable investment. It concludes that stable and predictable revenue frameworks are essential to reduce investment risk and attract capital. Mitigating financing risk is central to scaling renewables in both mature and emerging markets. Instruments such as power purchase agreements (PPAs) play a pivotal role in accessing affordable finance, while inconsistent policy environments and opaque procurement processes undermine investor confidence. Particularly, integration costs are emerging as a new constraint on deployment of renewables. Increasingly, wind and solar projects are delayed due to grid connection bottlenecks, slow permitting and costly local supply chains. This is acute in G20 and emerging markets, where grid investment must keep pace with rising electricity demand and the expansion of renewables. Furthermore, financing costs remain a decisive factor in determining project viability. In many developing countries of the Global South, high capital costs, influenced by macroeconomic conditions and perceived investment risks, significantly inflate the levelised cost of electricity (LCOE) of renewables. For example, IRENA found that while onshore wind generation costs were similar in Europe and Africa with around US$0.052/kWh in 2024, the cost structures varied significantly. European projects were capital-expenditure driven, while African projects bore a much higher share of financing costs. IRENA's assumed cost of capital ranged from 3.8% in Europe to 12% in Africa, reflecting differing perceived risk profiles. Finally, technological advances beyond generation are also improving the economics of renewables. The cost of battery energy storage systems (BESS) has declined by 93% since 2010, reaching US$192/kWh for utility-scale systems in 2024. This reduction is attributed to manufacturing scale-up, improved materials and optimised production techniques. Battery storage, hybrid systems, combining solar, wind and BESS as well as digital technologies are increasingly vital for integrating variable renewable energy. Artificial intelligence (AI)-enabled digital tools are enhancing asset performance and grid responsiveness. However, digital infrastructure, flexibility, and grid expansion and modernisation remain pressing challenges, including in emerging markets, where the full potential of renewables cannot be realised without further investment. WAM
Zawya
10-07-2025
- Business
- Zawya
Renewables boom highlights growing regional divide
Abu Dhabi, United Arab Emirates - The Renewable Energy Statistics 2025 released by the International Renewable Energy Agency (IRENA) today shows that despite renewables capacity growing by over 15% in 2024, the growth gap widens across regions. Asia has kept its leading position since the past few years, accounting for 71% of new renewables capacity in 2024, followed by Europe and North America (respectively contributed 12.3% and 7.8% to the addition), leaving a huge gap with Africa, Eurasia, Central America and the Caribbean which together only accounted for 2.8% of total renewables capacity addition. Despite its massive economic and development opportunities, Africa only increased its renewables capacity by 7.2%. Commenting on the data update, IRENA Director-General Francesco La Camera said: 'The renewable energy boom is transforming global energy markets, driving economies and creating vast investment opportunities. However, the growing regional divide highlights that not everyone is benefiting equally from this transition. Countries and regions that attract substantial investment in renewables are seeing enhanced energy security, increased industrial activity, and new jobs, fueling broader socioeconomic development.' La Camera added: 'Bridging the divide and closing the investment gap between countries and regions is critical. It requires targeted policies, international financing, and partnerships that unlock capital and technology where they are needed most. By aligning investment flows with policy frameworks, we can ensure that the green transition becomes a powerful engine for resilience and sustainable economic growth worldwide.' 'The global shift to renewables is increasingly inevitable, but its massive human and economic benefits are not yet being shared across all countries and regions,' said UN Climate Change Executive Secretary Simon Stiell. 'To deliver on the global agreement at COP28 to triple renewables by 2030, we need to move much further and faster, and make more progress on the key enablers for vulnerable developing countries. The investments required will pay huge dividends – cutting emissions, driving economic growth, creatin jobs, and supporting affordable, secure energy for all.' As the custodian Agency for tracking the global goal to triple installed renewable capacity by 2030, IRENA remains committed to reviewing progress and identifying gaps towards the target on an annual basis. Although the 582 GW of renewable capacity added in 2024 represented a record annual increase, it still falls short of the pace required to reach the global tripling target of 11.2 TW by 2030. If the same annual growth rate continues, the world will only reach 10.3 TW of renewables capacity, missing the target by 0.9 TW. Achieving the target by 2030 would require renewable capacity to expand even faster at 16.6% annually in less than the remaining five years. The renewables capacity trend also reveals the dominance of solar and wind power. Both have jointly accounted for 97.5% of all net renewables additions in 2024, with solar increasing by 453 GW. This proves the economic competitiveness of solar energy; providing business opportunities and energy security quickly and sustainably. Wind energy is following behind with 114 GW of total renewables capacity addition. With renewables now catching up with fossil fuels in the share of installed capacity (46.2% of renewables vs 47.3% of fossil fuels), the case of renewables being a smart investment that creates jobs and drives sustainable growth has become stronger. The report also shows the continuous growth of renewable power generation, driven by solar and wind energy. Renewable electricity grew by 5.6% in 2023 compared to 2022, reaching 8 928 terawatts hour. Meanwhile, non-renewable power grew by only 1.2% in 2023 compared to 2022. As such, renewable energy sources accounted for almost 30% of global electricity generation by 2023. The Renewable Energy Statistics 2025 shows over 70% of renewables capacity growth occurred in Asia, while other regions particularly Africa lagged behind. About the International Renewable Energy Agency (IRENA) IRENA is the lead intergovernmental agency for the renewables-based energy transition in pursuit of a systemic change across the energy sectors. A global energy agency comprised of 169 countries and the EU, with 14 additional countries in accession, IRENA provides knowledge, technical assistance and capacity building, project and investment facilitation. The Agency enables international cooperation and partnerships to fight climate change and promote sustainable development, energy access, energy security and resilient economies and societies. Contact information: Nicole Bockstaller, Chief, Communications Officer, IRENA, nbockstaller@
