Global renewable capacity additions reached 582 GW last year

The world is falling behind on renewable energy and efficiency goals, despite record capacity growth in 2024, according to a new report from the International Renewable Energy Agency (IRENA), the COP30 Brazilian Presidency, and the Global Renewables Alliance (GRA).

Global renewable capacity additions reached 582 GW last year, yet the COP28 UAE Consensus target of tripling renewables to 11.2 TW by 2030 now requires 1,122 GW annually, with 16.6% growth needed each year. Energy efficiency also lags, with global energy intensity improving by just 1% in 2024—far below the 4% annual gains needed to meet UAE Consensus goals.

The report calls for urgent action: integrating renewable targets into national climate plans, doubling collective NDC ambition, and scaling investment in renewables to at least USD 1.4 trillion annually through 2030.

United Nations Secretary-General António Guterres said, “The clean energy revolution is unstoppable. Renewables are deployed faster and cheaper than fossil fuels – driving growth, jobs, and affordable power. But the window to keep the 1.5°C limit within reach is rapidly closing. We must step up, scale up and speed up the just energy transition – for everyone, everywhere.”

IRENA Director-General Francesco La Camera added, “The world has broken renewable capacity records, but records alone will not keep 1.5°C alive. Renewables are not just the most cost-effective climate solution; they are the biggest economic opportunity of our time. This report shows the path: accelerate deployment, modernise grids, scale clean-tech and strengthen supply chains.”

Ben Backwell, Chair of the GRA, said, “The private sector is driving the energy transition, providing three-quarters of global clean energy investment… What we need now are long-term government plans that match national ambitions; we need pipelines that deliver projects.”

The report highlights that G20 nations must lead, contributing over 80% of global renewable capacity by 2030, while advanced economies should ramp up climate finance and investment in grids, storage, and clean-tech supply chains to secure a stable energy transition.

Trinasolar continues to deepen its investment in Saudi Arabia. (Image source: Trinsolar)

Trinasolar, a global leader in smart PV and energy storage solutions, showcased its latest innovations at Solar & Storage Live KSA 2025, held from 12 to 14 October at the Riyadh Front Exhibition & Conference Center.

The company reaffirmed its long-term commitment to Saudi Arabia’s Vision 2030 through advanced innovation, localisation, and sustainable industrial growth.

At the exhibition, Trinasolar presented a complete portfolio tailored to the Kingdom’s clean-energy ambitions, featuring the Vertex N module (NEG21C.20) with power output up to 740 watts and the Elementa 3 energy storage platform alongside TrinaTracker systems and Trinabot BUILDEX, an AI-driven robotic cleaning solution. Together, these technologies offer an integrated solar and storage solution designed to boost efficiency, reliability, and long-term performance across utility-scale and commercial-industrial projects.

Trinasolar continues to deepen its investment in Saudi Arabia through local manufacturing and technology transfer. The company has achieved the 35% localisation rate required by the Saudi government, with higher rates in select projects, supported by its TrinaTracker factory in Jeddah. Established under a land-lease agreement with MODON in the Third Industrial City, the facility has an annual production capacity of 3GW, enabling faster delivery and stronger local integration.

“Reaching the government’s required localisation rate at our projects is a significant milestone that demonstrates Trinasolar’s deep commitment to Saudi Arabia’s Vision 2030,” said Todd Li, head of Asia Pacific, Middle East & Africa (APMEA) at Trinasolar. “With more than 57 gigawatts of solar and energy storage projects tendered under the National Renewable Energy Programme, the Kingdom is entering a transformative phase, and we are well positioned to contribute to this growth through our full range of advanced technologies and integrated smart-energy solutions that support the Kingdom’s evolving energy needs.”

Key features

Built on Trinasolar’s 210mm n-type i-TOPCon technology, the Vertex N 740W module achieves up to 23.8% efficiency, reduced LCOE, and strong reliability in high-temperature environments. The Elementa 3 platform enhances energy density, safety, and operational performance with high-capacity 587Ah cells and intelligent temperature control for stability even at 55°C. The Trinabot BUILDEX robotic cleaning solution further improves O&M performance and long-term energy yield, helping developers maximise uptime and investment value.

During the exhibition, Trinasolar announced strategic collaborations to strengthen its regional presence. The company welcomed Sky Energy as its new distributor in Saudi Arabia, expanding access to its advanced solar solutions to support the Kingdom’s clean-energy goals. Additionally, Trinabot and MAN signed a cooperation agreement focused on photovoltaic installation robotics, combining expertise to accelerate intelligent installation practices across the Middle East and Africa.

With over 28 years of continuous innovation, more than 200GW of cumulative 210mm module shipments, and 12GWh of global energy storage shipments, Trinasolar remains a trusted partner in advancing the energy transition across the Middle East and Africa, empowering the region to harness solar power for a sustainable future.

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Mubadala Energy reports strong ESG progress in 2024

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The findings were published in the company’s 2024 Sustainability Report

Mubadala Energy, the Abu Dhabi-headquartered international energy company, has announced significant progress across key Environmental, Social, and Governance (ESG) drivers, including a 36.5% reduction in Scope 1 and 2 greenhouse gas (GHG) emissions.

The findings were published in the company’s 2024 Sustainability Report, which also highlighted advancements in health and safety, community investment, and governance.

In addition to cutting overall GHG emissions, Mubadala Energy recorded a 55% year-on-year reduction in emissions intensity, falling from 15.57 to 6.95 tons CO₂e per kboe, driven by decarbonisation initiatives and improved production efficiency. The company also reported a 12.8% reduction in flared gas across its portfolio.

Commenting on the report, Mansoor Mohamed Al Hamed, managing director and CEO, Mubadala Energy, said, "In a dynamic global energy environment, the role of reliable and responsible energy partners has never been more important for all stakeholders. We have continued to place sustainability and ESG at the heart of how we operate, and I am proud of the trust and collaboration our partners have shown us as a result."

Decarbonisation strategies

He added, "This year's theme, ‘People, Energy, Impact’, underscores our commitment to produce reliable, lower carbon energy to address energy security priorities and support the energy transition. It also highlights that we continue to put people and social impact at the heart of how we do business. We’ve maintained our top-quartile HSSE record and continue to invest in employees’ wellbeing. And with over one million individuals benefiting from our community investment projects to date, our focus on people extends to the communities we operate in. As we embark on a new chapter of growth at Mubadala Energy, prioritising these ESG factors will be critical to our success."

On the environmental front, the company recycled 56% of total waste and launched its first carbon pricing policy to guide its decarbonisation strategy.

Social achievements included zero fatalities since inception, an average of 64 hours of training per employee, representation of 32 nationalities, and above-average female workforce participation.

Governance highlights included no data breaches for the sixth consecutive year and the creation of a dedicated ESG Committee to set KPIs for emissions reduction and sustainability initiatives.

Prepared in accordance with Global Reporting Initiative (GRI) Standards and partially aligned with the IFRS S2 Climate-related Disclosures standard, Mubadala Energy’s 2024 Sustainability Report details operational, environmental, social, and governance performance, alongside contributions to key UN Sustainable Development Goals.

Both companies have explored technological synergies. (Image source: Danfoss)

Danfoss has announced the acquisition of Palladio Compressors, marking a major expansion of its compressor portfolio, which already spans applications from light commercial comfort to large-scale process cooling, heating, and refrigeration.

Over the past two years, both companies have explored technological synergies, particularly in high-lift heat pumps. By integrating Palladio’s screw compressor technology with Danfoss’ existing solutions, the company aims to deliver more advanced and competitive high-temperature systems.

Fabio Klein, Divisional President, Danfoss Commercial Compressors, said, “We are thrilled to welcome Palladio Compressors and its talented team into the Danfoss family. This acquisition broadens our technological capabilities and reinforces our commitment to decarbonization across industries. Palladio's advanced technology complements our portfolio, enhancing our compressor solutions for industrial heat pumps and large commercial and industrial refrigeration.”

New range

The Palladio range introduces advanced screw technology to the Danfoss line-up, addressing the market gap for non-captive screw compressors. This positions Danfoss to better support customers entering new markets with compressors that use natural and low-GWP refrigerants, especially in medium energy intensity applications.

The new Danfoss Screw range will see expanded investment in research, development, production, and sales capacity, ensuring a strong global market presence. Integrating this technology alongside Danfoss’ valves, controls, heat exchangers, and sensors reinforces the company’s commitment to delivering greener, more efficient solutions worldwide.

David Candio, CEO, Palladio Compressors, commented, “Joining Danfoss is a transformative opportunity for Palladio Compressors. Together, we can leverage our combined expertise to drive innovation and expand our global reach. We are committed to providing increased options and seamless business continuity for our customers.”

Since 1 October 2025, Palladio Compressors became part of the Danfoss Commercial Compressors division. The acquisition aligns with Danfoss’ strategic growth plans, which include hiring additional R&D specialists, engineers, and technicians to support innovation and facility expansion.