Hydroelectric power, other renewables emphasized at G20 summit

G20 Summit

A meeting of Group of Twenty energy ministers in Istanbul earlier this month affirmed a collective belief in renewable energy — including hydroelectric power — amongst the major economies that constitute the international forum.

An 11-point renewable energy toolkit, prepared by the International Renewable Energy Agency (IRENA), was adopted by the energy ministers and will be presented at the G20 Antalya Summit in November for further consideration.

The toolkit “provides options for G20 countries to take a long-term, integrated and sustainable approach toward enhanced deployment of renewable energy,” IRENA said, through defined areas that include:

  • Driving down technology costs;
  • Exchanging good practices on policy framework and power system integration;
  • Mobilizing finance through risk mitigation; and
  • Determining technological potential and roadmaps.

“The G20 countries hold 75% of total global deployment potential and 70% of total global investment potential for renewable energy between now and 2030,” IRENA Director-General Adnan Z. Amin said. “With this tremendous market opportunity before them, concerted and coordinate action undertaken by G20 countries to advance renewable energy can really move the needle on global deployment as we transition to a clean energy future.”

The ministers also emphasized the importance of energy access, international cooperation, market transparency, energy security and efficiency, innovation and climate change during the meeting.

“Renewable energy has made incredible progress in recent years and there is no doubt of its potential for long-term growth and ability to contribute to a path of sustainable development,” Turkish Minister of Energy and Natural Resources H.E. Ali Riza Alaboyun said.

IRENA was founded in 2009 and is mandated as the global hub for renewable energy cooperation and information exchange by 143 members (142 states and the EU). The agency promotes the widespread adoption and sustainable use of all forms of renewable energy, including hydropower. The group launched ts Project Navigator tool, intended to give renewable energy project developers the knowledge, tools, case studies and best practices needed to support completion of projects, earlier this year.

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