00:00As far as today, I think that also in 2025, we are having new breaking records.
00:11If the preliminary data will be confirmed at the end of the year,
00:14we are moving to an astonished 700 gigawatts of new renewable installer capacity.
00:20This means that we have never been so close to be able to put the ship in a pathway that is consistent with the achievement of the Paris Agreement goal.
00:33The impression that I have is that we are really close to the last mile to put the ship in a safe way.
00:42Okay, Francesco, I mean, this is a feature of the industry anyway,
00:48but I wonder, just temporarily for a conversation's sake, if we strip out China,
00:54which has really been not just a dominant player, but really the bellwether of this global push towards renewables,
00:59how would you describe the world's efforts and the status of the world's efforts to bring renewable capacity online
01:06if you exclude the efforts from mainland China?
01:09So, if you exclude China, and if we look at the data that we have from the last year,
01:18we see that we have also very good progress in India, in European Union, and also in the US.
01:26We broke a new record of renewable installer capacity in 2024.
01:31So, naturally, the China role is still dominant, but progress is everywhere.
01:38In fact, the only area that I left behind are, unfortunately, Africa,
01:44and still in Southeast Asia should be done better.
01:47So, the world is progressing all around, but we are leaving behind Africa and Southeast Asia,
01:55and this could be really a great risk, not only from immoral or for the sense of justice,
02:02but from the fact that in these two areas of the world, the energy demand will be growing faster in the years to come.
02:10And if we don't intercept this demand with clean energy,
02:13this will be very difficult to keep the ship in a pathway consistent with the achievement of the Paris Agreement goals.
02:20Francesco, interesting that you mentioned Southeast Asia.
02:26Well, for one, you're in Singapore for this big conference.
02:29The reason I bring that up is the fact that it's lagging on this front,
02:34but also it's been a key recipient of Chinese investment in terms of renewable production capacity,
02:40yet it themselves lags as far as their energy mix is concerned.
02:44But what do you think is needed in Southeast Asia?
02:46Is it a regulatory push? Is it a funding push? Is it all of the above? What's missing?
02:53So, both of what you have said, we at ARENA, we have our narrative on what should be done
03:00to accelerate our pace and this apply also for Southeast Asia.
03:08So, here the first priority is infrastructure.
03:10So, if we are not able to move the electron, the molecule, into the Southeast Asia,
03:17this means that we have difficulties to put more clean energy into the grids.
03:22So, first, infrastructure.
03:24The second is the legal environment.
03:26So, we have still a market that is designed for fossil fuels energy system,
03:32and not for the renewables.
03:35And the third is the capacity of the institutions,
03:38because a distributive energy system based on renewables could be better for the environment,
03:43better for energy security, better for social aspects,
03:46but it could be a little bit more complex to manage.
03:49And we also have to re-skill the workers that are coming from the old sector to the new one,
03:55and also try to train and educate our young people as a professional
04:01for fitting better their professionality to the new and new system that is coming.
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