Ministry of Economics and Technology of Federa : State Secretary Baake attends IRENA Assembly in Abu Dhabi

Press Release

2016-1-15

© International Renewable Energy Agency (IRENA)

Rainer Baake, State Secretary in the Federal Ministry for Economic Affairs and Energy, travels to Abu Dhabi to attend the 6th Assembly of the International Renewable Energy Agency (IRENA) this weekend. Energy Ministers and high-ranking delegations from the 145 member countries of the International Renewable Energy Agency (IRENA) will gather at the 6th Assembly in Abu Dhabi. It is the first international summit after the successful Climate Conference in Paris. The delegations will discuss the proposals made by IRENA on how to accelerate the global expansion of renewable energy and increase investment in renewables.

State Secretary Baake said: 'After the agreement reached at the Paris Climate Conference, it is now crucial that we translate our words into deeds. In order to be able to achieve the targets that we agreed upon, we must transform our energy supply systems. For this purpose, Germany wants to cooperate with its international partners. All states must consistently improve energy efficiency and promote the expansion of renewable energy.'

During the upcoming Assembly, which will be attended by numerous Ministers from industrial states and developing countries and by EU Commissioner Miguel Canete, proposals will be discussed on how IRENA members can accelerate the expansion of renewable energy after the Paris Climate Conference. One aspect that is gaining in significance in this context is the question of how investment in renewables can be increased. The participants will talk about instruments to minimise risks and provide guarantees against risks related to investment that IRENA intends to implement together with international public and private financial institutions. The falling costs of technologies for power generation based on wind and solar energy also show that renewables are already competitive alternatives to conventional energy sources.

The fact that the IRENA Assembly and the subsequent World Future Energy Summit are taking place on the Arabian Peninsula also reflects the great interest of the Gulf states in the use of their abundant renewables. Germany will take the opportunities provided by the two events to highlight the advantages of the energy transition. German companies that are among the global market leaders in the energy sector will present their products and services at the World Future Energy Summit.