PEDO to work on solar energy projects worth Rs4.34bn

IEA predicted record growth in renewable energy worldwide in 2022

The International Energy Agency issued a report for the calculation of total renewable energy capacity and usage worldwide for this year. The report stated a record positive trend towards increase in the renewable energy storage and growth which was mainly led by solar energy consumption in China and Europe.

The report stated that a 295 gigawatts of renewable energy capacity was added in 2021 and has shown an uptrend since then. This rise was reported despite the observed delays in the overall system due to construction, supply chain hurdles and changing raw material prices. It was also stated that 320 gigawatts of additional energy is expected to be inserted into the system by the end of current year.

According to the IEA, “the additional renewables capacity commissioned for 2022 and 2023 has the potential to significantly reduce the European Union’s dependence on Russian gas in the power sector”. Solar energy is expected to account for 60 percent of renewable power growth this year.

The following recordings have been proven progressive in accordance with the major current goal of European Union to diminish it’s reliance on natural gas provided by Russia following the Ukraine invasion.