Negotiators of the European Union reached a provisional deal on higher renewable energy targets by 2030.
According to Bloomberg News Agency on Thursday, the European Parliament and the Council, representing EU members, agreed that by 2030, the 27-country EU would commit to sourcing 42.5% of its energy from renewable sources like wind and solar.
The deal must be approved by the EU Parliament and EU countries to become law, normally a formality.
The EU’s current 2030 target is for a 32% renewable energy share.
This agreement comes in harmony with the EU’s plans to meet its climate change goals, including a legally binding aim to cut net greenhouse gas emissions by 55% by 2030, from 1990 levels.
Renewable energy targets are of important significance since the Russian-Ukrainian crises and the EU’s pledge to end its dependence on Russian fossil fuels by 2027.
Reaching the new goals will require massive investment in wind and solar farms, scaling up the production of renewable gases, and reinforcing Europe’s power grids to integrate more clean energy.
The European Commission has said additional investments of 113 billion euros ($123 billion) in renewable energy and hydrogen infrastructure will be needed by 2030, if EU countries are to end their reliance on Russian fossil fuels. (QNA)
Source: Qatar News Agency