Abu Dhabi-based agency calls for clean energy investments to double
An international agency promoting clean energy called Sunday for investments in renewable energy projects to be more than doubled, redirecting funds from fossil fuels. The Abu Dhabi-based International Renewable Energy Agency (IRENA) also said that electricity output from renewable sources would more than double over the next decade.
“The agency’s data shows that annual renewable energy investment needs to double from around USD 330 billion today to close to USD 750 billion to deploy renewable energy at the speed required,” it said in a report.
“Much of the needed investment can be met by redirecting planned fossil fuel investment,” IRENA said.
