Montreal, September 2010

While renewable energy only accounts for an estimated 18 per cent of all energy production, there has been a four-fold increase in renewable energy investments in the last few years, Hélène Pelosse, Interim Director-General, International Renewable Energy Agency (IRENA), Abu Dhabi, told the World Energy Congress Montréal 2010.

During her special address, she also considered the move towards renewable energy as a paradigm shift affecting economic growth, climate change and energy security. She reminded her audience that there are six renewable energy sources: bioenergy; geothermal; hydro; ocean; solar and wind. And while hydroelectricity is by far the largest source, solar energy offers the most growth potential.

As IRENA's first director-general, Ms. Pelosse emphasized her organization's determination to be the main driver in promoting renewable energy use. "We're going to work on knowledge," she said. "Each country should know where their renewable energy will come from. Where are the places we need to fill the gaps? We need to develop knowledge regarding technology and to work on energy storage."

The industry also faces challenges of integrating renewable energy into the grid. Global flexibility is important. If we put more intelligence into the system, we achieve a higher return on renewable energy, Pelosse reasoned. "Financing is key for renewable energy. We need to take note of successful business models."

IRENA plans to work extensively with businesses, utilities and renewable energy end-users worldwide. It also wants to liaise with development agencies and financial institution such as the World Trade Organization.

Ends --

www.wecmontreal2010.ca