Page 9 - AsiaElec Week 46
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AsiaElec                                        NUCLEAR                                             AsiaElec








                           With construction of the back-up control  Genkai plant in in Saga Prefecture on 21 Novem-
                         centre incomplete, Kyushu took Sendai 1 offline  ber, with power generation resuming two days
                         on 16 March ahead of the specified deadline. It  later. It is due to shut Genkai 4 in December for
                         has since carried out routine inspections and  regular maintenance.
                         refuelling of the unit.                Kansai Electric Power suspended operation
                           On November 11, the utility announced that  of units 3 and 4 of its Takahama plant in Fukui
                         construction of the back-up facility had been  Prefecture in August and October because of
                         completed and it had now entered operation.  delays in completing back-up facilities at those
                           Kyushu plans to restart Sendai 2 in late  units.
                         December, once the back-up control centre for   Other utilities have also said there will be
                         that unit is also finished.          delays of up to two and a half years in completing
                           The utility expects to restart unit 3 at its  back-up centres at their reactors.™



                                                     INVESTMENT
       IRENA highlights continued



       shortfall in green investment





        GLOBAL           GLOBAL  renewable energy investment  much more effort is urgently needed to put us
                         increased between 2013 and 2018, reaching  on a climate compatible pathway and help us
                         its peak of $351bn in 2017, according to a new  recover better with a sustainable, resilient econ-
                         report by the International Renewable Energy  omy. Decision-makers must design systemic
                         Agency (IRENA) and Climate Policy Initiative  approaches to policies that encourage and speed
                         (CPI).                               up the flow of investment into renewables, and
                           The 2020 edition of Global Landscape of  away from fossil fuels, and doing so enable eco-
                         Renewable Energy Finance highlights, however,  nomic growth, social resilience and welfare.”
                         that while a cumulative $1.8 trillion was invested   IRENA’s post-COVID agenda showed that
                         during the five-year period, the amount falls  average annual investments of $2 trillion in
                         short of what is needed to achieve the global cli-  renewables and other energy transition-related
                         mate commitments.                    technologies in the 2021-2023-recovery phase
                           Renewable energy investment slightly  could create 5.5mn additional jobs in the sector.
                         declined in 2018, with modest growth through-  An additional 19mn energy transition-re-
                         out 2019. Although this was largely due to the  lated jobs would be created by 2030, following
                         decreasing costs of renewables, the total installed  average annual investments of $4.5 trillion up to
                         capacity continued to grow.          2030.
                           The current level of investment is still insuffi-  The majority of these investments could
                         cient, however, to keep the rise in global temper-  come from private sources, if government funds
                         atures within the 1.5°C objective by mid-century.  are used strategically to nudge investment deci-
                           To achieve this climate goal, investment in  sions and financing in the right direction.
                         diverse renewables technologies must almost   The capital is available, with a push from the
                         triple annually to $800bn by 2050.   governments to mobilise it. Public funds are able
                           Ambitious commitments from governments  to leverage private investments by a factor of 3 to
                         are needed, backed by supporting measures such  4 if used strategically to steer investments toward
                         as moving subsidies away from fossil fuels.  clean energy solutions and away from fossil fuels.
                           To that end, policies that enable the integra-  Greater participation of institutional inves-
                         tion of new renewable capacity additions into  tors – which hold about $87 trillion in assets –
                         the energy systems are needed, leading to their  will help to achieve the scale of global investment
                         decarbonisation and bringing wide socio-eco-  needed.
                         nomic benefits.                        “There is a very clear need for a rapid increase
                           “The investment trend in renewable energy  of investment in renewable energy coupled with
                         before [coronavirus] COVID-19 was a positive  a significant reduction and redirection of invest-
                         one,” said Francesco La Camera, IRENA’s direc-  ment away from fossil fuel energy,” said Dr Bar-
                         tor-general. “But COVID-19 has shown us that  bara Buchner, CPI’s global managing director.™





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