IRENA calls for clean energy investments to double

The Abu Dhabi-based International Renewable Energy Agency (IRENA) has said that electricity output from renewable energy sources will more than double over the next decade. IRENA’s data shows that annual renewable energy investment needs to double from around $330 billion today to close to $750 billion to deploy renewable energy at the speed required. The agency has suggested that much of the needed investment can be met by redirecting planned fossil fuel investment into renewable energy. The electricity from renewable sources, mainly solar and wind, will fulfil 57 per cent of global power requirement by the end of the current decade, up from just 26 per cent at present.

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