Italian oil and gas major Eni and the International Renewable Energy Agency (IRENA) have partnered to collaborate in accelerating the low carbon energy transition.
They have signed a three-year agreement to work together in the promotion of renewable energy, particularly in countries that export fossil fuels.
Eni and IRENA seek to identify barriers to private sector investment in renewable energy in countries where the energy company operates and promote solutions in co-ordination with governments.
The partnership builds on Eni’s commitment to contribute to the decarbonisation of the energy mix of African countries, leveraging renewable energy sources to reduce the use of fossil fuels in power generation.
Claudio Descalzi, Eni’s Chief Executive Officer 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.”
IRENA’s General Director, Francesco La Camera added it is in the interest of big oil companies and fossil fuel exporting nations to “embrace the transition and seek a leadership position in it”.