The 2,400-gigawatt growth between 2022-2027 is almost a third higher than last year's IEA forecast, according to the Paris-based agency, which advises developed nations.
The invasion of Ukraine by major oil and gas exporter Russia has triggered an energy crunch and prompted countries in Europe, which were highly dependent on Russian deliveries, to diversify their supplies. "The world is set to add as much renewable power in the next five years as it did in the previous 20 years," Birol said in a statement.
The amount of renewable power capacity added in Europe between 2022-2027 is forecast to be twice as high as in the previous five-year period, the IEA said.
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