ACCIONA and leading energy companies join forces to enable near doubling of renewable energy capacity by 2025

During de participation of ACCIONA Windpower at the EWEA (European Wind Energy Association) Annual Event in Paris, leading energy and technology companies  launch their action plans “Scaling up renewables” to nearly double renewable energy capacity by supporting the global deployment of 1.5TW of additional capacity by 2025.

Fifteen CEOs of leading companies in the renewable energy sector agree on a shared vision to speed up this transition to a low carbon energy system by accelerating the deployment of renewable energy.

Chairman & CEO of ACCIONA, José Manuel Entrecanales said: “Renewable energy is ready to match the challenges of Sustainable Development; however, scaling-up and accelerating its deployment is decisive in slowing down global warming. Implementing effective carbon pricing mechanisms and developing initiatives like LCTPi, that addresses future market structures and regulatory frameworks, are key elements in moving forwards to a low carbon economy.”

The leading energy and technology companies part of LCTPi’s Renewable Energy program together account for nearly 10% of global installed capacity. They believe that the doubling of renewable energy capacity required by 2025 to stay below 2°C is achievable. They will address barriers preventing the necessary widespread uptake of renewable energy by four action plans:

• Facilitating efficient, reliable, effective and commercially viable integration of renewable energy into grids and electricity markets, including promoting energy interconnections,
• Facilitating the significant scaling up of green bond finance through a commitment to robust verification and transparency as well as de-risking project pipelines,
• Working with corporate renewable energy buyers to scale renewable energy procurement and channel demand towards renewable energy,
• Promoting sustainable electrification of remote areas via accelerated deployment of low carbon microgrids.

About WBCSD & the Low Carbon Technology Partnerships Initiative (LCTPi)

The Low Carbon Technology Partnerships initiative (LCTPi) is led by WBCSD. Supported by the French Presidency of COP21, LCTPi was launched at COP20 in partnership with the International Energy Agency (IEA) and the United Nations Sustainable Development Solutions Network (SDSN).

More information about WBCSD