Some 510 GW of new renewable capacity was added globally in 2023, an increase of around 50% in capacity additions compared to a year earlier, the International Energy Agency (IEA) said in its annual Renewables 2023 report released on 11 January.

However, the report said countries like South Korea lowered the renewable energy target for 2030 from 30% to 22% in favour of nuclear power.

The IEA said the report “forecasts the deployment of renewable energy technologies in electricity, transport and heat to 2028,” noting that at the Cop28 climate change conference in Dubai late last year, 130 governments, including the European Union, agreed to triple current global renewable generation capacity of around 3,700 GW to over 11,000 GW by 2030.