The Summit’s Key Principles show what needs to happen, and I offer the IEA’s full support for the UK COP26 Presidency’s efforts to strengthen the international cooperation mechanisms that will accelerate our transition to net zero,” Birol added. “Europe is determined to reach climate neutral EU by 2050 and we urge others to join in this effort,” he wrote in a tweet. The Summit is a critical milestone on the road to COP26 in Glasgow in November. If we want the transition to clean energy to happen quickly, the world’s major economies have to work much more effectively and closely together. Many IEA member governments supported the Seven Key Principles presented by the IEA at the Summit to guide the implementation of net zero commitments. Key participants included China’s Energy Minister Zhang Jianhua, India’s Minister of Power, New and Renewable Energy Raj Kumar Singh and US Presidential Special Envoy for Climate John Kerry. Kerry called for much stronger and concrete policy action in the next 5 years across the world and promised that the US will do its part. “But it also underscored the need for greater international collaboration to drive the rapid global deployment of clean technologies across all the key sectors of the economy,” he said. It brought together representatives of countries covering more than 80% of global GDP, population and emissions. “It is time for the world to move from a decade of climate change deliberation to a decade of delivery, Sharma said, adding that the UK strongly encourages countries to endorse the IEA’s seven principles for achieving net zero. style=”font-size:40px; line-height: 1.3em; font-weight: 800; padding:7px;”>EU joins forces with IEA to grow global movement for net-zero emissions

By New Europe Online/KG

IEA

Net-Zero Summit: Covering over 80% of global emissions, countries vow to accelerate clean energy transitions

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Top international energy and climate leaders from more than 40 countries took part in the International Energy Agency IEA-COP26 Net Zero Summit on March 31 to identify how to work together to reduce global greenhouse gas emissions and meet the goals of the Paris Agreement. “Today’s Summit clearly showed willingness from governments, civil society and businesses to work together in each emitting sector to make this happen and keep the 1.5-degree target within reach,” he said. By working together, we can accelerate progress, create jobs and prosperity, and protect our planet for future generations,” he added. The principles also address issues such as technology collaboration, best-practice sharing, investment tracking, ensuring people-centred transitions, and integrating energy security and affordability into net zero plans. “No country can do this alone. European Commission Executive Vice-President Frans Timmermans said the EU is joining forces with the IEA to grow the global movement for net-zero emissions. “This should not be viewed as a shouldering of a burden, but more a sharing of an opportunity. Birol said the Net Zero Summit made clear that the vast majority of the world agrees on the gravity of the climate crisis and the urgency of immediate actions to put global emissions on track towards net zero. The Net Zero Summit, co-hosted by IEA Executive Director Fatih Birol and COP26 President Alok Sharma, brought together high-level representatives of energy and climate ministries from countries including Australia, Brazil, China, Colombia, the European Union, France, Germany, India, Indonesia, Italy, Japan, South Africa, the United Kingdom and many others. The principles cover essential areas such as the need for sustainable recoveries from the COVID-19 crisis, the critical importance of implementable emissions reduction roadmaps for the current decade, and the development of stronger mechanisms for international coordination to accelerate innovation and deployment in each major emitting sector of the global economy.

EBRD head of Albania, Matteo Colangeli, said the tender delivered another landmark for the development of solar power in Albania and will attract more high-quality foreign direct investment to the country. This is a fantastic result for Albania and for the Western Balkans overall,” he said. EBRD director, Energy Europe, Middle East and Africa, Harry Boyd-Carpenter, said the tender attracted high-quality foreign investment and will deliver solar power at a really competitive price. The need to diversify its energy sources has been recognised as a policy priority, with a view to increasing climate change resilience and decreasing dependency on electricity imports. To date, the EBRD has invested more than €1.5 billion in 110 projects in Albania. The country is committed to developing its solar and wind power potential. “Delivering a tariff below €30 per MWh for wholesale electricity is stunning. EBRD policy engagement to implement the necessary regulatory changes is expected to help attract more investment in the future. The EBRD noted that Albania is a mountainous country and its abundance of water resources has made it dependent on hydropower for electricity generation. “We are proud to be supporting Albania on the path to a sustainable and diversified energy sector,” he said. The tender builds on the success of a previous competitive bidding process for solar power supported by the EBRD in Albania at the coastal site of Karavasta, where Voltalia has won the tender to build and operate a 140 MW solar plant, the EBRD said in a press release, adding that it replicates that successful model in support of the development of the local electricity market; part of the electricity produced at the new solar park will benefit from a guaranteed tariff, while part will be sold directly on the free market. Projects totalling 150 MW of capacity will be eligible under the renewable-energy support scheme run by Albania’s Ministry of Infrastructure and Energy. According to the EBRD, the new plant, located in the area of Spitallë, in the coastal municipality of Durrës in the west of the country, will diversify energy supply and increase energy security while delivering climate-neutral energy at an affordable price. style=”font-size:40px; line-height: 1.3em; font-weight: 800; padding:7px;”>EU supports tender in Albania for 100 MW solar project

By New Europe Online/KG

France’s Voltalia wins contract for construction and operation of 100 MW solar plant in the west of Albania

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The French renewables company Voltalia has won the contract for the construction and operation of a 100 MW solar plant in Albania following its successful bid in a tender run by the Albanian Ministry of Infrastructure and Energy, the European Bank for Reconstruction and Development (EBRD), which supported the tender by providing technical assistance, said on March 30. The Bank is also supporting Albania in launching the country’s first auction for utility-scale onshore wind power plants, expected in the weeks ahead.  
 
  The Swiss State Secretariat for Economic Affairs (SECO) has provided grant funding to support the wind auction. The EBRD has been promoting the scale-up of this process through policy dialogue, technical assistance and investment.