Saudi-listed ACWA Power has announced it has signed an agreement to partner with the International Renewable Energy Agency (IRENA), the lead global intergovernmental agency for energy transformation, to advance the global renewable energy transition.
It was shared that through this partnership, the two will exchange key information on infrastructure investment for renewable energy, green hydrogen development, solar power, smart grids, and the energy-water nexus.
Together, the two will explore opportunities to mobilise finance and investment in renewable energy projects and support infrastructure, facilitating the development, storage, distribution, transmission, and consumption of renewables.
Joint workshops and seminars will also be organised to share best practices, strengthen capabilities, and raise awareness of the energy transition among youth, professionals, and the public through IRENA’s platforms and programmes.
Further, ACWA Power will participate in IRENA initiatives, including Green Hydrogen, Collaborative Frameworks, Project Facilitation, the Alliance for Industry Decarbonization, the Utilities for Net Zero Alliance, and the Coalition for Action.
Commenting on the partnership, Marco Arcelli, CEO of ACWA Power, said: “Our partnership with IRENA marks a significant milestone in our journey towards a sustainable energy future. By combining our strengths and resources, we are prepared to drive meaningful change and accelerate the transition to renewable energy on a global scale.”
Adding: “Through collaborative partnerships and innovative solutions, ACWA Power remains committed to advancing the widespread adoption and sustainable use of renewable energy, shaping a brighter and more sustainable future for generations to come.”
Francesco La Camera, Director-General of the International Renewable Energy Agency (IRENA), commented: “We have less than a decade left to secure a fighting chance for a 1.5°C world. Accelerating the renewable-based energy transition needs industry leaders and this MoU between IRENA and ACWA Power stands for the growing commitment of global industry to act on decarbonization. There is no alternative to the energy transition. We need to act together to accelerate the sustainable use of renewables and green hydrogen across the globe.