Sustained economic growth across the globe is leading to steadily expanding demand for energy, with associated needs for new generating capacity to maintain economic momentum. With falling technology costs and rising prices for fossil fuels, renewable power technologies are increasingly competitive with fossil-fuelled power. Even key energy exporters are considering renewable energy options to reduce domestic fossil fuel consumption and allot larger oil and gas reserves for export. The deployment of renewable energy in a regional context can enhance access to reliable and affordable electricity supply through expanded grid infrastructure, improve security of supply through resource diversification, reduce carbon emissions and foster new investment opportunities and job growth.
IRENA’s clean energy corridor concept aims at transforming the energy landscape in different regions by shifting away from yesterday’s carbon-intensive technologies towards tomorrow’s sustainable energy systems through promoting development and cross-border trade of clean, indigenous, cost-effective renewable power.
The concept is being implemented based on action plans customized to individual regional contexts. The overall aim of the concept is to support the implementation of enabling frameworks which attract timely and sufficient financial resources for identifying and developing cost-effective renewable power options, and encourage the reliable integration of higher shares of renewables into the electricity systems.
The Clean Energy Corridor initiatives span four sub-regions, namely:
Africa Clean Energy Corridor (ACEC) for the member countries of the Eastern and Southern African power pools.
West Africa Clean Energy Corridor (WACEC) for the countries of the Economic Community of West African States.
Clean Energy Corridor Central America for the countries of Central America.