The Industry Committee of the European Parliament has approved the agreement reached with Council aimed at promoting renewable energy within the European Union (EU) in line with the Green Deal and REPowerEU initiatives. The agreement on the revision of the Renewable Energy Directive looks to raise the share of renewables in the EU’s final energy consumption to 42.5% by 2030 and the member states are urged to strive for a 45% share. The new legislation will also accelerate the approval process for new renewable power plants, such as solar and wind projects, as well as the adaptation of existing ones.
This legislative revision is part of the 'Fit for 55' package, which adapts existing climate and energy legislation to meet the new EU objective of a minimum 55% reduction in greenhouse gas emissions by 2030 (REDIII). The proposed targets were further raised under the REpowerEU package, aimed at reducing Europe's reliance on fossil fuel imports from Russia following its aggression towards Ukraine. This updated directive, known as "REDIV", also introduces new measures to expedite the approval procedure for the deployment of renewable energy sources.
Interested in Global Energy Research?
Enerdata's premium online information service provides up-to-date market reports on 110+ countries. The reports include valuable market data and analysis as well as a daily newsfeed, curated by our energy analysts, on the oil, gas, coal and power markets.
This user-friendly tool gives you the essentials about the domestic markets of your concern, including market structure, organisation, actors, projects and business perspectives.