The International Renewable Energy Agency (IRENA) has launched a new initiative, the IRENA NewGen Renewable Energy Accelerator (NewGen), aimed at supporting young entrepreneurs and innovators in driving the renewable energy transition.
The initiative is being developed in collaboration with Social Alpha , a non-profit organization based in India that supports social start-ups, and Enel Foundation , a global non-profit organization focused on supporting the development of studies and research mainly in the energy field.
As knowledge partners, Social Alpha and Enel Foundation will provide technical expertise and mentorship to help young entrepreneurs and innovators succeed.
NewGen will provide capacity building, mentorship and other resources to youth-led projects and start-ups that are developing innovative solutions to advance the adoption of renewable energy at the global level.
IRENA’s initiative, supported by the United Arab Emirates, will be open to youth-led projects and start-ups with a focus on innovative solutions in areas such as energy storage, grid integration, and energy efficiency.
Selected participants will receive training, mentorship, other resources to help them develop and scale their solutions. They will also have the opportunity to compete for the IRENA Youth Award, which will offer financial support for the top five solutions.
Francesco La Camera , director-general of IRENA, said: “The rapid transition to renewable energy is crucial for the future of our planet, and young entrepreneurs are playing a vital role in powering this change. By launching NewGen, we are empowering a new generation of renewable energy leaders with the resources they need to tackle the pressing challenges of our time.”
Carlo Papa , managing director of Enel Foundation, added : “We are excited to contribute to this initiative, which has the potential to drive innovation and further accelerate the energy transition. Young talents will help win the race to a clean energy future.”
The accelerator is part of IRENA’s broader effort to support the acceleration of a global energy transition powered by renewables.
By supporting youth-led innovation and entrepreneurship, IRENA aims to create new opportunities for clean energy development and help the global community achieve climate objectives and sustainable development goals.