Eni teams up with IRENA on energy transition
Italian energy company Eni has established a partnership with the International Renewable Energy Agency (IRENA) to promote aspects of the energy transition, it said September 30.
A three-year partnership with IRENA outlined broad-based ways to develop more renewable energy in countries dependent on fossil fuels and identify some of the barriers that could inhibit private investments in the energy transition.
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"The agreement with IRENA is a step forward [in] 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,” Eni CEO Claudio Descalzi said.
In its so-called Energy Compact, Eni last week laid out commitments to address issue No. 7 of the UN’s sustainable development goals (SDGs). This objective is to ensure that “everyone has access to affordable, reliable, and modern energy services by the year 2030,” the UN explained.
Eni and IRENA under the terms of their three-year partnership said they would focus in particular on advancing biofuels in the African continent. Initiatives there could help the decarbonisation of the transport sector.
“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,” IRENA general director Francesco La Camera said. “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.”
Eni in early September signed a memorandum of understanding with Mubadala Petroleum, a wholly owned subsidiary of Abu Dhabi's Mubadala Investment Company, to work together on energy transition projects.
These include hydrogen and carbon capture, utilisation and storage projects that align with their respective decarbonisation targets.