Abu Dhabi, United Arab Emirates: A comprehensive study released January 13 by the International Renewable Energy Agency (IRENA) reveals “enormous” potential of renewable energy in the South East Europe (SEE) region.
The report, Cost-Competitive Renewable Power Generation: Potential across South East Europe, was released at a high-level meeting preceding the opening of the seventh session of IRENA’s Assembly, which attracted policymakers from SEE and key regional stakeholders to discuss the opportunities and challenges in expanding the share of renewable energy in SEE.
The report underscores that SEE possesses vast technical renewable energy potential – equal to some 740 GW. The region’s wind energy (532 GW) and solar PV (120 GW) potential is largely untapped, and 127 GW of this overall renewable energy potential could be implemented in a cost-competitive way today. The report says this figure could rise further, to above 290 GW, if more favourable cost of capital is considered for the region.
“The region’s case for renewables is strong, particularly for solar and wind. Harnessing these resources will result in affordable energy, job creation, improved air quality, and a means to meet international commitments,” said IRENA Director-General Adnan Z. Amin. “Solar and wind energy are now viable power supply options and the region is well poised to further scale-up its power systems sustainably.”
“IRENA is prepared to continue supporting governments across SEE to harness untapped renewable energy potential and accelerate their deployment,” added Mr. Amin. “Discussions at today’s meeting helped to identify the potential areas where IRENA can offer most added value and best assist countries in addressing the key obstacles hindering greater renewables deployment.”
The report provides useful guidance for decision-makers in the SEE region seeking to scale-up renewables, in line with new long-term EU renewable energy target aimed at driving future economic growth.
Download the report at Cost-Competitive Renewable Power Generation: Potential across South East Europe.