The Eni energy company and the International Renewable Energy Agency (IRENA) have signed a three-year partnership agreement to promote renewable energy and encourage energy transition, especially in countries that rely heavily on oil exports.
The organizations will assist fossil fuel exporting nations develop and transition to clean energy and share their experiences. The goal is to identify obstacles to private investment and work alongside governments to create solutions.
Eni's Chief Executive Officer, Claudio Descalzi, said: "The agreement with IRENA is a step forward 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."
The primary intent is to integrate the African continent into the biofuel value chain and implement the production of advanced biofuels. The integration will be achieved by focusing on institutional capacity building, agribusiness and industrial development initiatives.
The transport industry, a significant polluter, will be another focus of the new partnership as it moves towards a carbon-neutral future.
Both parties will benefit from this partnership and become a major force transitioning from fossil fuels to renewable energy sources. In addition, the partnership allows Eni to share its expertise and wealth of knowledge, and technological solutions with IRENA and, in return, will be able to gain international recognition bring their solution to a larger audience.
"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's 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. The partnership between Eni and IRENA will reinforce our common efforts to advance the low-carbon agenda in the decade of action."