International Renewable Energy Agency (IRENA) Ready To Implement New Approach To Energy Security

The International Renewable Energy Agency (IRENA) has disclosed its plans for a new approach to energy security amidst geopolitical concerns and a push from fossil fuels.

IRENA in its ‘Geopolitics of the energy transition: Energy Security’ reports released at the ongoing 14 Assembly, noted that the agency wants a more holistic thinking around energy security that encompasses energy demand, system flexibility, technology access and infrastructure development.

According to IRENA Director-General, Francesco La Camera, “The energy system is undergoing a profound transformation, and renewables are bound to bring greater resilience through decentralisation and greater reliance on domestic sources. It is vital to proactively shape this resilience with foresighted policies and investments. While lessons from the fossil fuel era can inform some aspects of the transition, a holistic approach that considers the unique attributes of renewables and modernises economic, social, and diplomatic strategies are necessary.

"The evolving energy system calls for a security strategy that integrates environmental concerns, economic trends, and social ramifications. Technologies, not fuels, are the centerpiece of the new energy system. By revisiting traditional security approaches and identifying emerging factors, this report seeks to equip policymakers with a better understanding of energy security in the era of renewables.”

It was projected by IRENA that electricity could meet more than 50 per cent of consumption by 2050. The renewables-based system is characterised by high electrification and efficiency, complemented by green hydrogen and sustainable biomass.

The agency also noted that geopolitical shifts are set to profoundly influence energy trade dynamics, alter international dependencies, and reshape the geopolitical landscape. Cross-border trade in electricity will rise in prominence, fostering mutual benefits, in contrast to the asymmetric dependencies of the oil and gas sector.

In a renewable energy era, IRENA explained that energy security must evolve in several key areas, adding that resilient technology supply chains would be vital to support the transition, for both developed and developing countries.

Also, the report calls for climate change effects to enter energy security considerations and indicates that renewables should be leveraged to provide cost-efficient, integrated and reliable solutions for climate adaptation.