Renewable energy capacity additions to hit record: IEA

PARIS: Renewable power capacity will grow by a record number this year as high fossil fuel prices and energy security concerns fuelled the deployment of solar and wind systems, the International Energy Agency said Thursday.

Global additions of renewable energy capacity are expected to rise by 107 gigawatts to more than 440 GW in 2023, the IEA said in an updated report on the sector.

“The world is set to add a record-breaking amount of renewables to electricity systems — more than the total power capacity of Germany and Spain combined,” IEA executive director Fatih Birol said in a statement.