18 May, the European Commission adopted a long-term plan REPowerEU, – European Commission President Ursula von der Leyen noted at a briefing.
REPowerEU will help us to save more energy, accelerate the phasing out of fossil fuels and kick-start investments on a new scale. This will be speed-charging for our European Green Deal.
According to Ursula von der Leyen, the EU is mobilizing a record amount of almost $300 billion to completely abandon Russia’s energy resources.
«To start with the most obvious: Energy savings are the quickest and cheapest way to address the current energy crisis. We will therefore increase the EU energy efficiency target for 2030 from 9% to 13%. And we are increasing the 2030 target for EU renewable energy from 40% to 45%.
For example, we are proposing to speed up permitting procedures for renewables and associated infrastructure like grids. We are proposing a solar rooftop obligation for commercial and public buildings by 2025 and for new residential buildings by 2029. This is ambitious but realistic. We know that when Europe acts together, it has more clout. The EU 27 government Leaders agreed to set up a platform for the joint purchase of gas, LNG and hydrogen. As part of our REPowerEU plan, we propose an operational way forward, with a joint procurement mechanism and a joint outreach to supplying countries.»
➖ The Commission proposes to increase the EU’s renewable energy target to 45% by 2030, which will lead to a total RES capacity of 1,236 GW by 2030 in Europe.
➖ The EU is also setting a target of more than 320 GW of solar photovoltaic energy by 2025 and almost 600 GW by 2030; and presented a solar strategy (EU solar energy strategy, COM(2022) 221, (18.05.2022)). (https://lnkd.in/e9rSciiP)
➖ Regarding wind generation, the emphasis is on offshore wind energy.
➖Also #REPowerEU sets a target of 10 million tonnes of domestic renewable hydrogen production and 10 million tonnes of renewable hydrogen imports by 2030. Renewable hydrogen will be key to replace natural gas, coal and oil in hard-to-decarbonise industries and transport.
Press statement by President von der Leyen: https://ec.europa.eu/commission/presscorner/detail/en/statement_22_3164
Also, 18 May – President von der Leyen has proposed granting Ukraine additional macro-financial assistance of up to €9 billion in 2022. This would be paid in tranches with long maturities and concessional interest rates thanks to the guarantee from the Union budget.
Ursula von der Leyen, President of the European Commission, said: We stand ready to take a leading role in the international reconstruction efforts to help rebuild a democratic and prosperous Ukraine. This means, investments will go hand in hand with reforms that will support Ukraine in pursuing its European path.”
She also announced a reconstruction platform jointly led by Ukraine and the Commission – RebuildUkraine. The platform would bring together supporting partners and organisations and ensure that the investment and reconstruction of Ukraine helps the country to emerge more resilient from the devastation caused by Russia’s aggression.
To support the reconstruction plan, the Commission proposes to set up the ‘RebuildUkraine’ Facility as the main legal instrument for the European Union’s support, through a mix of grants and loans. It would be embedded in the EU budget, thereby ensuring the transparency, accountability and sound financial management of this initiative, with a clear link to investments and reforms.
A significant emphasis will be put on the rule of law reforms and fight against corruption, whilst investments, brought in line with climate, environmental and digital EU policies and standards, will help Ukraine emerge stronger and more resilient from the devastation of the Russian invasion.
According to the Prime Minister of Ukraine Denys Shmygal, the European Union will rely on the plan developed by our National Council on Postwar Reconstruction. Our joint plan will be based on 4 key points:
🔹 rebuilding the entire infrastructure according to the latest standards and European policies;
🔹 modernization of the Ukrainian state and our institutions;
🔹 maximum integration of Ukraine with the EU in all areas and directions;
🔹economic transformation, including new opportunities for Ukrainian business.