NORWEP Webinar on the Covid19 situation in Hydropower markets Eddie Rich Chief Executive International Hydropower Association 22 April 2020 www.hydropower.org
HYDROPOWER GROWTH IN DECADES hydropower.org/statusreport
ELECTRICITY GENERATION MORE THAN ALL OTHER RENEWABLES COMBINED Global hydropower installed capacity in 2018 Source: IEA 2019 IEA (2019) hydropower.org/statusreport hydropower.org/statusreport
Synergy between hydro & interconnection ACHIEVING PARIS GOALS WITH HYDROPOWER 850 GW new hydro capacity needed to limit temperature rise by 2°C Hydropower capacity needs to increase by 60% by 2050 equivalent to the entire power capacity of the EU Source: IRENA, 2020
Synergy between hydro & interconnection Impact of Covid on sector – information gathering Q: I am confident that my organisation's hydropower revenues will grow over the next 1-3 years. Source: IHA member survey 2020 Evidence of delayed and cancelled projects, supply delays, hampering demand, making some projects uncompetitive, job losses, etc.
Synergy between hydro & interconnection Hydropower is an essential service: Indian hydro hailed for restoring power amid Covid-19 vigil Other examples: - Sequestration from the sector in the US. - UK wind farms switched off. Pumped storage can pick it up. - US negative/global low oil prices are an opportunity as well as a threat.
Post-Covid opportunities Major changes – major challenges – major opportunities Unprecedented volatility and uncertainty Transformation of the energy sector Too early to tell what post-Covid world will look like www.hydropower.org
Post-Covid opportunities Major changes – major challenges – major opportunities Massive government stimulus packages planned Hydropower cannot afford to miss this train More important than ever to have a voice at the table www.hydropower.org
Post Covid opportunities Major changes – major challenges – major opportunities The next year will lay the foundations for the next decade Advocating for renewable energy is more important than ever Something good can come out of all of this “ Hydropower, an often forgotten workhorse of electricity generation, remains an essential source of flexibility.”
Key messages going forward 1. Have shovel-ready projects in place for the post-Covid 19 economic stimulus plans. 2. Make sure your projects have been assessed against the Hydropower Sustainability Tools. 3. Demonstrate renewable coordination through hybrid projects, such as solar PV or pumped storage alongside solar or wind power. www.hydropower.org
Sustainability Hydropower Sustainability Tools
Our mission advancing sustainable hydropower.
How can we collaborate 1. Improve hydropower’s image More and better hydropower is an essential part of energy transition 2. Create enabling environment for hydropower Work with governments on policy and regulation 3. Value hydropower correctly Long-term Multi-benefits Supporting other renewables through storage and flexibility. 4. Embed sustainability and climate requirements into AfDB projects - tools on ESG, climate mitigation and climate resilience. 5. Engage in joint projects ➢ Modernisation needs ➢ Sustainability trainings and assessments ➢ Better regional grid and energy market coordination e.g. Nord Pool ➢ Partner with us at World Hydropower Congress
Thank you You can also become an IHA member: www.hydropower.org/join To learn more about sustainability tools, visit: www.hydrosustainability.org www.hydropower.org
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