UNEZA aims to increase RE capacity by 2.5 times by 2030

The alliance also emphasised the need for grid infrastructure.

Major utility firms forming the Utilities for Net Zero Alliance (UNEZA) aim to increase their renewable energy capacity by over 2.5 times compared to the 2023 level to reach 749 gigawatts by 2030.

In a statement, UNEZA added that there is also a need to focus on developing grid infrastructure, urging policymakers and regulators to collaborate with industry players to solve bottlenecks and access capital flows.

“The global utility community is taking bold, decisive steps towards the tripling of renewables by 2030, not just in terms of our concrete investment plans but also in our drive to address energy transition bottlenecks – particularly for grids. It is increasingly recognized that grid infrastructure development is critical to enable the energy transition and expansion of clean power capacity,” Jasim Husain Thabet, TAQA’s Group Chief Executive Officer and Managing Director, and Co-Chair of the Alliance, said.

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“However, we need to do more across industry and policy to encourage more supply chain capacity, address the gridlock in permitting for grids and increase capital flows,” Thabet added.

The founding members of the TAQA-led UNEZA, include Bui Power Authority, DEWA, DLO Energy, EDF, EDP, Edison International, E.ON, Enel, Engie, Etihad Water and Electricity, Hitachi Energy, Iberdrola, Jinko Power, KEGOC, KenGen, and Masdar.

National Grid, Octopus Energy, RWE, Sacremento Municipal Utility District, Schneider Electric, Siemens, SSE, Tenaga, Uniper and Xlinks are also amongst the founding entities.

Green Grids Initiative and ACWA Power recently joined the alliance.