Renewable Energy Takes Center Stage at IRENA Assembly in Abu Dhabi
The energy landscape is undergoing a significant transformation, with a strong shift towards renewable sources. This was the central theme at the 16th Assembly of the International Renewable Energy Agency (IRENA), where leaders gathered in Abu Dhabi to discuss the global energy transition. Francesco La Camera, IRENA’s Director-General, highlighted this shift towards decentralization and renewable energy as the way forward.
The IRENA Assembly is the agency’s highest decision-making forum, where governments align on renewable energy policy, finance, and global cooperation. Photo credit: IRENA press service
The event, themed “Powering Humanity: Renewable Energy for Shared Prosperity,” set out to establish a collective roadmap for the future energy sector. According to La Camera, the industry has already signaled its preference for renewables. “Last year, 92% of newly installed power capacity was renewable. This year, we are heading toward another record, with nearly 700 GW of new renewable capacity expected,” he stated.
La Camera said the world is facing multiple, overlapping crises: geopolitical tensions, economic pressures, widening inequalities on Jan. 11 Photo credit: IRENA press service
Renewable energy sources have emerged as the most cost-effective solution, surpassing fossil fuels in terms of cost, resilience, and stability. “In the very near future, new investments in renewables plus storage will be more convenient and economical than keeping an old coal plant alive,” La Camera emphasized, urging countries to prioritize renewable strategies as an economic necessity.
He further stated that the future economic landscape will be shaped by the ability to provide low-cost, clean, and reliable energy. “Fast movers will gain lasting productivity and competitiveness advantages over those who hesitate,” La Camera noted, highlighting the importance of integrating renewables into industrial policies to capture domestic value and foster innovation.
The assembly also underscored the need for international collaboration to facilitate this transition, particularly through access to low-cost capital. “Reducing the cost of capital through predictable policy frameworks, risk-mitigation instruments, and blended finance is at the heart of delivering competitiveness, development, and sustainable prosperity,” La Camera said.
Despite geopolitical challenges, including the recent withdrawal of the United States from IRENA, the agency continues to grow, now comprising 171 Member States. “This growth is not symbolic; it is strategic,” La Camera asserted, reaffirming IRENA’s pivotal role in steering the global energy transition.
The assembly also saw a change in leadership, with the presidency transitioning from Slovenia to the Dominican Republic. Discussions focused on crucial topics such as regional energy transitions, digital innovation, finance mobilization, and the integration of renewables in various sectors.
The event kicked off the Abu Dhabi Sustainability Week 2026, drawing world leaders and experts to the UAE capital, under the patronage of Masdar, Abu Dhabi’s clean energy advocate.
Original Story at astanatimes.com