Eni signs pact with IRENA to accelerate renewables deployment

Eni and IRENA executives signing a deal
Image credit: Eni

Italian energy firm Eni has partnered with the International Renewable Energy Agency (IRENA) to accelerate the deployment of clean energy resources.

The two companies signed a three-year deal to co-promote the penetration of renewables in a bid to speed up the energy transition in Italy and in countries that export fossil fuels.

Eni and IRENA will share expertise in renewables deployment and work together to identify barriers to private sector investment in renewable energy in countries where Eni operates.

The companies will also work together with governments to develop solutions that can help accelerate the decarbonisation of the energy and transport sectors.

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In particular, Eni and IRENA will promote the integration of the African continent into the biofuel value chain through institutional capacity building, agribusiness, and industrial development initiatives aimed at the production of advanced biofuels, according to the statement.

Eni will leverage the partnership with IRENA to expand its role in enabling the energy transition across the globe by actively contributing to the institutional debate on energy policies that the agency promotes.

Eni’s CEO, Claudio Descalzi, said: “The agreement with IRENA is a step forward for Eni’s pledge to reach net-zero by 2050, as it leverages renewables and other technological and industrial solutions to successfully face the energy transition.

“We have designed Eni’s evolution in the coming years by combining the objectives of a continuous development in a rapidly evolving energy market with a significant reduction in the carbon footprint of our portfolio. Today’s alliance can boost this process, just as we will be able to make our contribution in terms of know-how and commitment.”

Eni seeks to leverage circular economy, digitalisation, green hydrogen, as well as carbon capture, utilisation and storage technologies to achieve the decarbonisation of its operations.

IRENA’s General Director, Francesco La Camera, adds: “We have reached a critical moment in the energy transition, one that requires the commitment and active participation of energy actors from across the spectrum. It is in the interests of big oil companies and fossil fuel exporting nations to embrace the transition and seek a leadership position in it.

“The partnership between Eni and IRENA will reinforce our common efforts to advance the low-carbon agenda in the decade of action.”

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