Image: Rick Jamison, Unsplash
IRENA has issued a call to support the deployment of renewable energy sources in SIDS with a minimum investment of $10 billion by 2030.
IRENA’s SIDS Lighthouses Initiative (LHI) held a session at the UN’s 4th International Conference on SIDS (SIDS4) in Antigua and Barbuda this week to identify financing mechanisms to support SIDS’s sustainable energy goals.
The speakers also discussed technology transfer and capacity building strategies to address the skills and expertise required for renewable energy development for SIDS.
“We must prioritize initiatives that facilitate the transfer of proven technologies, coupled with robust knowledge-sharing platforms, to strengthen SIDS in their energy transition and climate action efforts,” said Flavien Joubert, Minister of Environment of Seychelles. “Identifying and addressing capacity building needs is fundamental to increasing SIDS’ resilience and expertise in renewable energy development. This includes investing in education, training and skills development programs tailored to the specific requirements of SIDS communities.”
SIDS, with less than 1% of the world’s population and global emissions, are among the world’s most vulnerable regions to climate change, despite being the least responsible for it.
Launched ten years ago by IRENA, the LHI brings together 41 SIDS and 48 development partners. They have jointly set a target of 10 GW of installed renewable energy capacity by 2030.
“By promoting real collaboration and mobilizing resources effectively, we can pave the way for a sustainable future for SIDS and contribute significantly to global climate action,” said Melford Nicholas, Minister of Utilities and Energy of Antigua and Barbuda.
The 40 SIDS (COP Parties) that have ratified the Paris Agreement accounted for 6.6 GW of total installed renewable energy capacity at the end of 2023, according to IRENA figures. All island states together installed 8.7 GW of sustainable energy last year.
Last month, pv magazine reported from SIDS4 that access to financing will be crucial for the future deployment of solar energy within SIDS.
This content is copyrighted and may not be reused. If you would like to collaborate with us and reuse some of our content, please contact: editors@pv-magazine.com.