Thursday 8 June 2023

‘Hydropower contributed to 15% of the world’s electricity last year’

‘Hydropower contributed to 15% of the world’s electricity last year’

Last year saw hydropower contribute towards 15% of the world’s electricity demand.

This marks the first time since 2016 that more than 30GW of new capacity was built in a single year, according to the latest report by the International Hydropower Association (IHA).

Switzerland, Portugal and Turkey were the nations responsible for the largest projects in Europe, with Norway, Austria and Italy also playing their part.

The IHA’s World Hydropower Outlook reveals that although there is clear progress in the growth of the sector, more than 700GW is still required to keep the world on track to net zero by 2050.

China led growth in the sector by a large distance, increasing its hydropower capacity by 24GW, while Europe contributed 3GW and North and South America adding 1GW each.

In terms of investment, the Outlook reveals that $100 billion (£80.2bn) a year will be needed to keep net zero goals achievable, although currently finance remains at half this rate.

Eddie Rich, IHA CEO, said: “It is imperative that we incentivise sustainable hydropower development through financial and market mechanisms that reward flexibility, accelerate the development of renewables through streamlined permitting and licensing and embed hydropower sustainability practices in government regulation.

“The Outlook sets out a realistic roadmap to enable hydropower and other renewables to deliver against net zero targets. We are calling on governments to consider the recommendations in the Outlook to supercharge development in sustainable hydropower.”

Written by

Bruna Pinhoni

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