The world will need to pour trillions of dollars into the energy sector if it wants to reach the net-zero target, according to the CEO of Australia’s largest electricity operator.
Frank Calabria, Managing Director of Origin Energy, which operates Australia’s largest coal-fired power station, has also urged to “bring as much coal supply back into the system as soon as possible.” He said this would aid a “successful transition” to renewables over the longer term and ease pressure on the power price.
Speaking at the Australian Energy conference on June 7, the energy boss described the shift to a renewable economy as a “multi-decade, large-scale, global transformation that will fundamentally change the way we source, produce, supply, distribute and use energy.”…