ISLAMABAD/BRUSSELS: European Union member states and members of the EU Parliament reached an agreement on Thursday to nearly double the production of renewables across the bloc by 2030.
The provisional political agreement, reached shortly around 07:00 CET following overnight negotiations, seeks to raise the share of renewable energy to 42.5 percent, from the current 22 percent, according to a Council of the EU statement, which represents the bloc’s governments.
The new binding target set in the Renewable Energy Directive (RED) is a compromise between the 45 percent share for renewables sought by EU lawmakers and the European Commission, the bloc’s executive branch, and the 40 percent preferred by member states.
The previous target for 2030 had been set at 32 percent.
The proposed directive seeks to cut red tape for renewable energy projects.
The goal is to “fast-track the deployment of renewable energies” as part of the bloc’s plan “to become independent from Russian fossil fuels after Russia invades Ukraine,” Council of the EU statement said in a statement.
Companies have complained that development of such infrastructure has been slowed by red tape.
The political agreement was welcomed by European Commission chief Ursula von der Leyen who wrote on Twitter that the deal “will help us progress towards climate neutrality, strengthen our energy security and boost our competitiveness — all at once.”
I welcome the political agreement reached by the EP and Council on our new rules for more ambition and faster roll-out of renewables.
This will help us progress towards climate neutrality, strengthen our energy security and boost our competitiveness – all at once. #REPowerEU
— Ursula von der Leyen (@vonderleyen) March 30, 2023
EU’s aim to achieve climate neutrality by 2050
The EU is aiming to become a “climate neutral” economy by mid-century, with net-zero greenhouse gas emissions.
The move also comes as the blov seeks to slash its dependence on Russian fossil fuels after Moscow cut gas supplies last year and the EU imposed bans on seaborne crude and other petroleum products from the country.
