Ukraine crisis may fast-track green transition, IRENA chief tells Reuters

Russia's invasion of Ukraine is likely to accelerate the transition to greener fuels in the medium term as Russian hydrocarbons are ditched for more renewables and energy independence, according to IRENA Director-General Francesco La Camera.

PHOTO: Francesco La Camera assumed the office of IRENA's Director-General in April 2019. IRENA

The head of the International Renewable Energy Agency (IRENA) told Reuters that risks to the stability of energy supplies highlighted by Russia's invasion of Ukraine would support the global shift away from fossil fuels. He further added that renewables are the best way to produce electricity.

IRENA's call for renewable energy follows International Energy Agency's (IEA) Fatih Birol's warning that a continental scramble for winter fuel supplies would unleash a wild west scenario. During the inaugural Global Clean Energy Action Forum, Birol added that the implications would be bad for the economy, politics and energy.

The Kremlin shut down Nord Stream 1 indefinitely earlier this month, forcing a heavily dependent Europe into an energy emergency and near recession. According to the IEA, the EU imported 155 billion cbm of natural gas from Russia in 2021, accounting for 40% of its total gas consumption.

In the midst of Europe's energy crisis, European Commission president Ursula von der Leyen wrote that the European governments are increasing imports of expensive LNG from the US and are lining up additional gas supplies from pipelines running from Norway and Azerbaijan.

Von der Leyen has also reaffirmed Europe's commitment to renewable energy, describing it as "energy insurance for the future".

Earlier this year, the European Commission proposed a 'REPowerEU' strategy to make Europe independent of Russian fossil fuels by 2030, in response to Russia's invasion of Ukraine. During the next decade, renewable energy generation capacity is projected to reach 1,236 GW under the three-pronged REPowerEU plan.

By Konica Bhatt

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