The EU has set ambitious goals to ensure that renewable energy production targets are met. To ensure that the green transition is speeded up and that European industries are ready for these changes, the Commission adopted the REPowerEU Plan in May 2022[1].
The RepowerEU Plan focuses on long-term commitments to promote massive investments in renewable energy production and enhance long-term energy efficiency, as well as short-term measures to encourage energy savings and contingency measures in case of severe supply disruption.
In the REPowerEU Plan the Commission proposes to increase the EU’s 2030 target for percentage of total energy provided by renewables from the current 40% provided under the “Fit for 55” package to 45%. The REPowerEU Plan envisages total EU renewable energy generation capacities at 1,236 GW by 2030, compared to 1,067 GW by 2030 under Fit for 55.
As highlighted by President von der Leyen in her statement on September 7, 2022: “We have REPowerEU on the table. The renewables are cheap, they are home-grown, they make us independent. We will deploy renewables this year that are an equivalent to round about 8 billion cubic metres. So the renewables are really our energy insurance for the future”.
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- February 22, 2023: The Green Deal Industrial Plan: European Commission’s Further Initiative to Foster Green Transition in Europe
[1] See Communication from the Commission to the European Parliament, the European Council, the Council, the European Economic and Social Committee and the Committee of the Regions, May 18, 2022, REPowerEU Plan, COM/2022/230 final, available here.