The path to a just energy transition
We are thrilled to welcome you to the first edition of the ReNew2030 Newsletter! This marks the beginning of an exciting journey as we unite in our mission to drive fair and fast transition to wind and solar energy.
We’re witnessing a remarkable surge in solar power, with 2023 investments in solar surpassing all other generation technologies. Over the last decade, solar and wind energy sources have been on an unstoppable upward trend grown rapidly, reshaping our future. However, achieving the tripling target requires even greater effort. Structural imbalances persist, especially concerning the speed of the transition in emerging economies and the growing political backlash against renewables in the EU and US. Join us as we explore this exciting journey towards a cleaner tomorrow.
At ReNew2030, we believe that collaboration and innovation are key to creating a sustainable future. Our community of dedicated individuals, forward-thinking organisations, and passionate changemakers is growing every day, and we are excited to share our progress, insights, and opportunities with you.
The Renewables Investment Platform for Limitless Energy (RIPLE) was launched in February in Nigeria, as a $500 million initiative, to expand energy access, focusing on the entire value chain.
A first pilot project, the Tokarawa Industrial Hub in Kano State, involves setting up a generation and distribution system to meet 70MW of unsuppressed energy demands in an area covering about 9,000 connections. The African Climate Foundation facilitated investments in the initiative, along with the Nigerian Sovereign Investment Authority.
For the Hackatón X Nuestro Futuro over 40 young people from across the country gathered in Mexico City and teamed up in 8 groups to devise public policy proposals focusing on the energy transition to renewables in Mexico. Post-Hackatón activities are currently taking place to maintain the momentum with youths, including mentoring and training, the creation of sub-national youth groups, public advocacy, and communication campaigns in favour of renewable energies.
An impactful initiative supported by Iniciativa Climática de México. Philanthropies are backing youth mobilisation, and we will continue to drive youth engagement to ensure they remain at the forefront of this crucial transition.
In the Philippines, the Tara Climate Foundation has showcased an excellent public-private-philanthropic partnership through the first-ever offshore wind master plan feasibility study, which aimed to identify sites suitable for the development of wind farms in the Philippines.
This partnership helped generate a detailed assessment of various sites with wind resource potential, with project partners committing to make the data available for other stakeholders who are keen on advancing offshore wind development in the Philippines. The philanthropic funding from Tara helped to crowd in funding from public and private sectors to make this initiative a reality, and facilitated shared learnings to advance existing research on offshore wind power and improve the resilience of the national power grid.
