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.
The parliament and EU member states will now mull the proposed budget for 2021-27 which includes a €750 billion Covid recovery package and a Strategic Investment Facility it is hoped will unlock €150 billion for renewables and energy storage to 2027.
The European Commission has sent the European Green Deal on its way and a preliminary version of its anticipated hydrogen strategy has been leaked. The plan does not lack ambition, as the EU seeks to assert tech leadership in green hydrogen through coordinated efforts across the value chain.
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