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Renewable energy capacity (MW)
Installed power generation capacity of new and refurbished renewable power facilities (MW)
Definition
Total new installed energy capacity from renewable sources expressed in megawatts (MW). Renewable sources include all hydroelectric, geothermal, biofuels, bioenergy, waste to energy, solar, wind and marine energy, as well as installed capacity financed through financial mechanisms for renewable energy. In the case of refurbishing of hydropower plants facilities, the full capacity of the plant is included (not only any additional capacity) as often without the refurbishment the plants will not continue to operate. A project reports to this indicator when the plant financed becomes fully operative.
This indicator reflects the aggregate results of all projects completed in the public sector, or those that have reached Early Operation maturity in the private sector. The OFRF presents both the most recent year’s results (for the 12 months leading up to June 30th of the stated year) and three-year rolling cumulative values (for the 3 years leading up to June 30th of the stated year), to address annual data variability and provide a longer-term perspective on development results achieved.
Why it matters for the OPEC Fund
Expanding renewable power generation capacity is essential for improving energy security, supporting economic activity, and enabling a transition toward low-carbon development pathways. The OPEC Fund contributes to these outcomes through operations in priority areas as outlined in the Review and Update of OPEC Fund Strategic Framework 2030—specifically Infrastructure Development, Private Sector and Trade, and Climate Action—by supporting investments in renewable energy technologies and cleaner power systems. This indicator aligns with SDG 7 (Affordable and Clean Energy), SDG 9 (Industry, Innovation, and Infrastructure), SDG 12 (Responsible Consumption and Production), SDG 13 (Climate Action) and SDG 17 (Partnerships for the Goals).