ACCIONA Windpower recently launched a “Scaling-up Renewables” action plan to almost double renewable energy capacity by supporting the global deployment of 1.5 terawatts of additional capacity by 2025.
Fifteen CEOs of leading companies in the renewable energy sector all agreed on a shared vision to speed up this transition to a low-carbon energy system by accelerating the deployment of renewables.
The energy and technology companies are part of the World Business Council for Sustainable Development’s Low-Carbon Technology Partnerships’ (LCTPi) Renewable Energy program, and together account for nearly 10% of global installed capacity. ACCIONA co-leads the renewables program, which gathers businesses and partners to accelerate the development and deployment of low-carbon technologies for emissions’ reduction.
The initiative was launched at COP 20 in partnership with the International Energy Agency and the United Nations Sustainable Development Solutions Network. ACCIONA announced their action plan at the EWEA 2015 event in Paris last week.
“Renewable energy is ready to match the challenges of Sustainable Development; however, scaling-up and accelerating its deployment is decisive in slowing down global warming,” said Chairman & CEO of ACCIONA, José Manuel Entrecanales. “Implementing effective carbon pricing mechanisms and developing initiatives like LCTPi, that addresses future market structures and regulatory frameworks, are key elements in moving forwards to a low-carbon economy.”
They energy companies believe that the doubling of renewable energy capacity required by 2025 is achievable with the right steps. They will address barriers preventing the necessary widespread uptake of renewables with four actions:
- By facilitating efficient, reliable, effective, and commercially viable integration of renewable energy into grids and electricity markets, including promoting energy interconnections,
- By facilitating the significant scaling up of green bond finance through a commitment to verification, transparency, and “de-risking” project pipelines,
- By working with corporate renewable buyers to scale power procurement and channel demand toward renewable energy, and
- By promoting sustainable electrification of remote areas via accelerated deployment of low-carbon microgrids.
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