The International Renewable Energy Agency (IRENA) has signed a new agreement with the Enel Foundation in the margins of its recently concluded Eleventh Assembly.
Under a new agreement with Enel Foundation, the two parties will share data and insights about the development of the green hydrogen economy, which is increasingly cited as a central component of carbon neutral economies by 2050.
IRENA estimates that 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.
Signed by the IRENA director general and Enel’s 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 the Agency’s work as it looks to mobilise the expertise, innovations and capital from the private sector to advance the global energy transition.
Francesco La Camera, IRENA Director-General commented 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.