Utilities for Net Zero Alliance launched

25 utilities and other energy companies from across the globe along with IRENA and the UN Climate Change High-Level Champions have launched the Utilities for Net Zero Alliance (UNEZA).

The Alliance, which was launched at COP28, has the companies aligning themselves with the COP28 action agenda objective of fast-tracking a just and orderly energy transition and committing to advancing electrification, renewables ready grids and clean energy deployment in line with 2030 goals and a net zero future by 2050.

The primary focus will be on promoting the accelerated adoption of renewables and building the necessary infrastructure, while also offering a platform for joint efforts to address supply chain bottlenecks, support the flow of capital to the power sector transformation in the global south and engagement with policymakers and regulators.

The utilities, which collectively serve more than 250 million customers, have requested IRENA to lead the secretariat.

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In particular, they will work to address impediments to the net zero pathway framed within IRENA’s ‘World Energy Transitions Outlook’.

“Utilities are on the frontlines of global energy sector transformation, and as such we recognise the responsibility we hold to lead our respective national climate action agendas,” said Jasim Husain Thabet, Group Chief Executive Officer and Managing Director of UAE’s Abu Dhabi National Energy Company (TAQA), which is leading the Alliance.

“This global initiative responds to the COP 28 action agenda and demonstrates a determination from the sector to accelerate the energy transition through collaboration, partnership and a clear focus on addressing the current challenges.”

Other founding entities include Bui Power Authority, Dubai Electricity and Water Authority, DLO Energy, EDF, EDP, E.ON, Enel, Engie, Etihad Water and Electricity, Hitachi Energy, Iberdrola, Jinko Power, Kazakhstan Electricity Grid Operating Company, KenGen, Masdar, National Grid, Octopus Energy, RWE, Schneider Electric, Siemens, SSE, Tenaga, Uniper and Xlinks.

Other ecosystem partners include the World Economic Forum (WEF), International Electrotechnical Commission (IEC), Global Renewables Alliance and Chile’s Coordinador Eléctrico Nacional.

An initial focus will be to develop a plan of action to mitigate macro energy transition challenges including capital mobilisation, supply chain de-risking, capabilities and talent building and facilitating policy and regulatory support.

Other companies are invited to join the Alliance, with membership open to utilities, developers, power system technology companies and knowledge partners determined to expedite the transition towards a net zero future by 2050.