Energy Transition Accelerator Financing Platform (ETAF)

Climate Change
December 12, 2023

Meeting the international climate and development objectives requires a massive reallocation of capital towards low-carbon technologies, including renewables, as well as the mobilisation of all available capital sources. USD 131 trillion will need to flow into the energy system by 2050, prioritising technology avenues compatible with the 1.5 ॰C pathway.

Between now and 2050, over 80% of the USD 131 trillion must be invested in energy-transition technologies, not limited to traditional renewable generation, energy conservation and efficiencies, end-use electrification, power grids, sustainable bioenergy, and hydrogen.

Managed by IRENA, the ETAF Platform has attracted USD 1.25 billion in pledged resources to support the energy transition. The platform is increasing its ambition, planning to provide financing of 5 GW of projects by 2030.

IRENA is a Centre of Excellence, a repository of policy, technology, resource, and financial knowledge on renewable energy. We support countries in their transition to a sustainable energy future and promote the widespread adoption and sustainable use of all forms of renewable energy.

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