At the fourth meeting of the Collaborative Framework on Hydropower, more than 60 participants discussed critical challenges and potential solutions pertaining to the advancement of sustainable hydropower globally.
The International Renewable Energy Agency (IRENA) launched the Collaborative Framework on Hydropower to address pressing challenges and seize potential opportunities.
“Investment in hydropower needs to grow five-fold from 2018 levels to achieve the Paris Agreement goals,” said Gauri Singh, IRENA deputy director-general. “Our recently released World Energy Transitions Outlook (WETO) suggests that to meet the climate goals, hydropower installed capacity, including pumped storage, should more than double by 2050 from 1.3 TW to 2.9 TW.”
WETO estimates necessary investments in conventional hydropower to be around $85 billion per year.
IRENA is working on a special report on hydropower, outlining the main challenges in closing the gap in global capacity and priority areas for action. Presenting crucial findings from the draft report, Roland Roesch from IRENA’s Innovation and Technology Centre said most existing plants are reaching the end of their useful lives and face operational and financial consequences.
Rather than retirement, opportunities abound to upgrade these aging facilities with current technology and boost operational efficiencies. “Most hydropower plants were planned, designed and built to operate under different conditions than those of today and need substantial refurbishment and modernization in a way that they fit the needs of today’s power systems,” Roesch said.
For new hydropower projects, Roesch said it’s important to minimize the negative social and environmental impact without compromising their ability to generate electricity and provide ancillary and water services.
Pumped storage hydropower (PSH) is one of the most common and well-established types of energy storage technology. It accounts for 90% of all utility-scale energy storage capacity and provides flexibility to power systems globally. Rebecca Ellis, policy manager, International Hydropower Association (IHA), said there is a vital role for PSH in addressing the climate crisis, but private sector investment has been hindered by the lack of a strong business case.
To promote hydropower development and facilitate investments in the sector, the International Conference on Hydropower Investment in Developing Countries will be held in Geneva, Switzerland, in October. Co-organized by the Swiss government and IRENA, the conference is expected to explore funding opportunities in developing countries, mainly in the Asia-Pacific region, Latin America and Africa.
IRENA is an intergovernmental organization that supports countries in their transition to a sustainable energy future and serves as a platform for international cooperation, center of excellence, and repository of policy, technology, resource and financial knowledge on renewable energy.
