AFRICA – The International Renewable Energy Agency (IRENA) and Enel Foundation, a non-profit organization focusing on clean energy, will share data and insights about the development of the green hydrogen economy in a bid to advance the energy transition.
Green hydrogen is increasingly cited as a central component of carbon neutral economies by 2050.
Green hydrogen, which uses renewable energy to produce hydrogen from water, is taking off around the globe. Its boosters say the fuel could play an important role in decarbonizing hard-to-electrify sectors of the economy, such as long-haul trucking, aviation, and heavy manufacturing.
Green hydrogen is hydrogen fuel that is created using renewable energy instead of fossil fuels. It has the potential to provide clean power for manufacturing, transportation, and more — and its only byproduct is water.
IRENA estimates at least 1700GW of renewables-powered electrolyser capacity is needed by the middle of the century, to produce the amount of green hydrogen required for a net zero future.
IRENA said public-private partnerships, like the new agreement with Enel, are an important part of its work as it looks to mobilise the expertise, innovations and capital from the private sector to advance the global energy transition.
Signed by IRENA director general Francesco La Camera and Enel Group CEO Francesco Starace, the partnership will also feature corporation on youth engagement initiatives and regional market trends.
Public-private partnerships are an important focus of IRENA’s work as it looks to mobilise the expertise, innovations and capital from the private sector to advance the global energy transition.
La Camera said that youth and hydrogen development are two key energy transformation issues, and that the Agency welcomes partnerships with private sector corporations that share the Agency’s vision for a low-carbon future.
Memoranda of understanding were also formalised with the Food and Agriculture Organisation (FAO) and US Aid’s Power Africa.
Under the Power Africa agreement, the MoU will work to expand access to affordable, reliable, and modern electricity through off-grid energy solutions that use renewable and complementary technologies to improve economic activity, and enhance the provision of essential social services, such as education, agriculture, water, and healthcare.
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals and insights from Africa’s business, economy and more. SUBSCRIBE HERE
