BAKU, Azerbaijan, November 15. Deploying 1,500 gigawatts of energy storage capacity by 2030, along with implementing additional solutions to enhance flexibility, is crucial for the global energy transition, said Kadri Simson, the European Union (EU) Commissioner for Energy, Trend reports.
Speaking at a ministerial dialogue on COP29 energy initiatives, Simson further explained.
"COP28 marked the beginning of the end of the fossil fuel era. However, the world has yet to fully align with these ambitious goals. The good news is that these targets are within reach, but achieving them will require a massive influx of renewable energy necessary for the clean energy transition.
By 2030, we must build or modernize 25 million kilometers of energy networks to maximize the efficient use of renewable energy and significantly accelerate electrification.
Energy storage and grid infrastructure are crucial, but they are not the only solutions. We must also scale up financing, particularly in developing economies, and ensure a fair and sustainable supply of critical minerals essential for the clean energy transition. Without these investments and the deployment of energy storage and grid systems, achieving global renewable energy and energy efficiency goals will be impossible. And without meeting these targets, a clean energy transition compatible with limiting global warming to 1.5°C will not be feasible.
That is why I am pleased to welcome the launch of the Global Agreement on Energy Storage and Grids, which is a vital step forward in our collective efforts to drive this transformation," she added.
The Commissioner is responsible for the European Union's energy policy and nuclear matters. The Commissioner for Energy must address the persistent gas conflicts between Russia and Ukraine that jeopardize European supply, diminish reliance on Russian energy, and lower carbon emissions. The European Union actively endorses the Kyoto Protocol, which it ratified with its member states. In March 2007, the Union pledged to reduce CO2 emissions by 20 percent by 2020.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel