IRENA Director General Adnan Amin: “Cost of generating energy from renewable sources is sharply declining”
“The economy, environment, and energy are the three elements that are central when making decisions about our future. We are working with megatrends: population growth, a loss of biodiversity, and the pollution of the environment. We are virtually approaching the limit of the earth’s capabilities to cope with our impact on it”, Amin said.
Amin also noted a sharp decrease in the cost of generating energy from renewable sources. “Last year, renewable energy sources accounted for 62% of new capacity in the energy sector. The biggest source is solar energy. Innovation is the engine of this process. The cost of technology has dramatically declined – by 80% for solar – over the past four years”, Amin said.
The director general said costs will continue to decrease over the next decade. “Oil-producing countries are actively switching to renewable energy sources”, Amin said.
October 12, Moscow. – Several oil sector agreements were signed during Russian Energy Week. Cooperation between Irkutsk Oil Company and the Japanese company JOGMEC moved to the next phase of development with a new joint venture, INK-Krasnoyarsk. This agreement to expand the parameters of cooperation includes plans for geological exploration at five licensed sites in Krasnoyarsk Territory. “Our
Applications are now being accepted to take part in the Natural Gas Motor Fuel Specialized International Exhibition, which will be held as part of the St. Petersburg International Gas Forum 2017 (St. Petersburg, 3–6 October).
St. Petersburg, 5 October. – A meeting of the Youth Council of the Oil and Gas Industry under the Ministry of Energy of the Russian Federation took place during the 7th St. Petersburg International Gas Forum, which is being held as part of Russian Energy Week.