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Long-term Intervention: Investments in Renewable Sources

The REPowerEU Plan promotes a massive scaling-up and speeding-up of renewable energy in power generation, industry, buildings and transport.

In this regard, the Commission proposes to increase the EU’s 2030 target for percentage of total energy provided by renewables from the current 40% to 45% under the “Fit for 55” package of European Green Deal legislation (under which EU greenhouse gas emissions should be cut by at least 55% by 2030)[1]. The REPowerEU Plan envisions  total EU renewable energy generation capacities at 1236 GW by 2030, compared to  1067 GW by 2030  under Fit for 55.

Statement on Energy by President von der Leyen issued on September 7th, 2022:

“[T]he third step is the most important one. This is  massive investments in renewables. We have REPowerEU on the table. The renewables are cheap, they are home-grown, they make us independent. We will deploy renewables this year that are an equivalent to round about 8 billion cubic metres. So the renewables are really our energy insurance for the future.”

Links to EU Regulation/Statements and News Stories on Accelerating the EU’s Green Transition: 

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Italy

PNRR

Mission Component 2: Energy Transition and Sustainable Mobility

Investments:

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France

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[1] See Commission’s package of proposals to make the EU’s climate, energy, land use, transport and taxation policies fit for reducing net greenhouse gas emissions by at least 55% (as against 2005 levels) by 2030, Fit for 55, available here.

[2] The Commission has approved aid measures for the investment (see State Aid SA.102558 (Sviluppo del biometano secondo criteri per la promozione dell’economia circolare – pratiche ecologiche - attuazione del PNRR, missione 2, componente 2 (M2C2), investimento 1.4) and SA.100704 (RRF - Italy – Support scheme for the promotion of biomethane))

[3] The Commission has approved aid measures for the investment (see State Aid SA.102532 (Progetti di ricerca e sviluppo sull’idrogeno – Avviso A (PNRR-M2C2-Investimento 3.5)), SA.102534 (Progetti di ricerca e sviluppo sull’idrogeno – Avviso B (PNRR-M2C2-Investimento 3.5)).