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WindEurope, the European wind power association, recently announced that the European Union approved a 1 trillion euro green investment plan to help innovative technologies finance to achieve climate neutrality
.
Specifically, the EU will mobilize €1 trillion of investment over the next 10 years to help reduce EU CO2 emissions by at least 50%
by 2030 compared to 1990 levels.
Under SEIP, the European Sustainable Investment Programme, the EU will spend €503 billion on climate and environment-related projects, triggering €100 billion in investment from member states and around €400 billion from private and public sources
.
According to the European Green Deal, renewable energy for electricity, a rapid phase-out of coal and decarbonization of natural gas are key elements
to achieve these goals.
SEIP will also include €100 billion in supplementary funding
to help rapidly shift fossil fuel-concentrated regions to renewable energy technologies.
WindEurope said the wind industry has already contributed to a "just transition", citing Romania's skills training centre for coal miners and similar facilities
in Silesia, Poland.
It also believes that the new spending plan could help fund emerging technologies quickly to help decarbonize
Europe.
Giles Dickson, CEO of WindEurope, added: "Wind power is already providing core projects for the European Green Deal, and the share of wind power in the European electricity mix will continue to grow, from 14% today to 50%
by 2050.
We look forward to an easy-to-use and just transition mechanism that can quickly release investment
in the projects that are most needed.
This will be key
to ensuring fair and enriching employment for all Europeans.
”
WindEurope, the European wind power association, recently announced that the European Union approved a 1 trillion euro green investment plan to help innovative technologies finance to achieve climate neutrality
.
Specifically, the EU will mobilize €1 trillion of investment over the next 10 years to help reduce EU CO2 emissions by at least 50%
by 2030 compared to 1990 levels.
Under SEIP, the European Sustainable Investment Programme, the EU will spend €503 billion on climate and environment-related projects, triggering €100 billion in investment from member states and around €400 billion from private and public sources
.
According to the European Green Deal, renewable energy for electricity, a rapid phase-out of coal and decarbonization of natural gas are key elements
to achieve these goals.
SEIP will also include €100 billion in supplementary funding
to help rapidly shift fossil fuel-concentrated regions to renewable energy technologies.
WindEurope said the wind industry has already contributed to a "just transition", citing Romania's skills training centre for coal miners and similar facilities
in Silesia, Poland.
It also believes that the new spending plan could help fund emerging technologies quickly to help decarbonize
Europe.
Giles Dickson, CEO of WindEurope, added: "Wind power is already providing core projects for the European Green Deal, and the share of wind power in the European electricity mix will continue to grow, from 14% today to 50%
by 2050.
We look forward to an easy-to-use and just transition mechanism that can quickly release investment
in the projects that are most needed.
This will be key
to ensuring fair and enriching employment for all Europeans.
”
