European Union (EU) member states are planning a surge in renewables to replace fossil-fired generation as COVID-19, soaring gas prices and Russia’s war in Ukraine put pressure on countries to move towards cleaner and cheaper sources of power.
A decision by Russia’s Gazprom to stop supplying gas to Ørsted illustrates the need for the European Union (EU) to speed up renewables deployment, the CEO of the Danish energy company has said.
Floating solar system provider Ocean Sun is preparing to scale up the utility-scale deployment of its technology as its management calls for more regulatory frameworks to unlock the potential of the floating PV segment.
The European Union’s REPowerEU strategy could be thwarted by higher material and module costs as a “perfect storm” looms over the sector following the pandemic, according to analysts Wood Mackenzie.
Spanish utility Iberdrola will invest €3 billion (US$3.2 billion) in green hydrogen, the company’s chairman, Ignacio Galán, has announced as he called for a stable European framework to boost investment in the technology.
The EU Solar Energy Strategy, published alongside the REPowerEU strategy yesterday, has targeted 400GWdc of solar PV by 2025 and almost 740GWdc by 2030, a significant jump on the bloc’s previous targets as it looks to cut its reliance on Russian fossil fuels.
The European Union (EU) has significantly ramped up and brought forward its solar deployment targets as part of its updated REPowerEU strategy, redesigned to combat the bloc’s reliance on fossil fuels, and in particular Russian gas.
Europe has established a leading position across the green hydrogen value chain but now must accelerate investments to build out infrastructure while committing green hydrogen targets to legislation.
The world added record amounts of renewable energy last year with 295GW of capacity deployed, up 6% year-on-year, despite supply chain constraints, project delays and high commodity prices, according to the International Energy Agency (IEA), which also expects nearly 320GW to be deployed this year.
The European Commission (EC) intends to speed up the permitting process for renewable energy projects to a maximum of one year, Reuters reported yesterday, referencing a leaked draft document it had seen.
