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14.06.2018

EUROPEAN INSTITUTIONS STRIKE OVERNIGHT DEAL ON 32% BINDING RENEWABLE ENERGY TARGET

This is a significant improvement over the target of at least 27% the European Commission tabled in November 2016. Dramatic progress in recent years on the competitiveness of renewables notably cost reductions in onshore and offshore technologies were a major driver for higher ambition at EU level.

The Renewables Directive sets out concrete measures to underpin the delivery of the target. The Directive will provide rules on the design of support mechanisms aimed at providing investor certainty. Member States will be allowed to have technology-specific auctions and will have to provide at least five years visibility on public support, including the timing, volumes and budget for auctions.

The Directive also includes an investment protection clause preventing retroactive policy changes from impacting existing renewable energy projects. Permitting procedures for new and repowered installations will be simplified with shorter deadlines for swifter build-out.

WindEurope expects the Council and European Parliament to formally endorse this agreement in the coming weeks.

Source: WindEurope