The European Parliament appears to have made the terms of the energy transition funding stream for public sector entities more favorable by securing a bigger slice of non-repayable grant cash for the bloc’s most deprived regions.
The bloc should accelerate investment into mining and processing within its shores, as well as ramping up recycling, according to European employers and trades unions, with coal workers already equipped with the necessary transferable skills.
The European Parliament and Council of Ministers continued to tidy up the details of the bloc’s Covid-recovery package today by publishing the rules of how the money will be disbursed.
With the European Parliament formally voting through a €672.5 billion recovery and resilience fund, the baton will pass to the heads of the European Council and its grouping of economic ministers. It is hoped an initial, 13% slice of the fund will be available to member states from early next month.
The commission has proposed updating the law which regulates the bloc’s cross-border energy networks to include new energy storage technologies and smart grids as well as removing fossil fuel eligibility for public funding.
An extensive European Commission regulation has set the bar on those economic activities deemed to help in the war against global heating and, by implication, those which may hinder the effort.
A clean energy plan drawn up by the European Commission includes details of the various funding pots available to help ocean-based renewables hit 340 GW of generation capacity by mid century.
Italy is in line for €11.4 billion if member states sign off an emergency funding package which will distribute funds based on the GDP and unemployment figures of their economies in June, July and August.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.