European Commission Announces “REPowerEU” Package

22 May 2022

The European Commission announced the "REPowerEU" package, which aims to reduce the European Union's (EU) fossil fuel imports and accelerate the spread of renewable energy to combat climate change

The Commission has proposed increasing the binding energy efficiency target from 9% to 13% within the scope of the “Fit for 55” package of the European Green Deal legislation. The Commission also proposed increasing the 2030 main target for renewable energy from 40% to 45%. As part of this target, the EU has created a dedicated “EU Solar Strategy” to double solar photovoltaic capacity by 2025 and install 600 GW of solar capacity by 2030. REPowerEU targets will require an additional investment of 210 billion euros by 2027.”

Source: TSKB Bulletin

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