If Europe is to come up with its own Inflation Reduction Act moment, and incentivize a return of EU solar manufacturing leadership, it must lift state-aid related restrictions on the PV manufacturers who have announced a willingness to build 30 GW of production lines.
SolarPower Europe has issued a statement opposing any moves by the European Commission to impose a lower maximum electricity price on renewables than on fossil fuel energy. EU member state energy ministers will meet this week to thrash out emergency measures to protect bill payers.
Developers in Greece will bid to secure annual payments for large-scale storage facilities that must be operational before 2026.
The latest, seven-year investment attracted offers worth more than €100 billion from investors and means the European Union has already generated €54 billion of the €80 billion of bond proceeds it is aiming for this year, as part of its five-year, €800 billion NextGenerationEU support package.
The state-owned electric utility has agreed to sell 49% of its shares in the grid. The sale is expected to boost the country’s transition to a greener and smarter energy system.
An independent third-party has approved the European Commission’s safeguards to ensure the projects in member states financed by €250 billion of green bonds over the next five years, will have genuine emission reduction credentials.
The European Investment Bank and Greece this week signed a first-of-its-kind agreement to jointly manage €5 billion of investment concerned with the EU member state’s post-Covid recovery plan. The strategy has a key focus on green energy.
The Greek government has published its plan for a post-Covid economic recovery. The strategy aims to mobilize at least €10 billion towards the green energy sector, with the prospect of further EU loans on top.
Solarpower Europe has called on member states to put solar and battery storage front and center when it comes to drawing up the Recovery and Resilience plans needed to secure a slice of the bloc’s proposed €672.5 billion post-Covid stimulus package.
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