16 July 2020
The path to a green recovery: European Council has no time to lose
Tomorrow the EU Heads of State and Government meet in Brussels to try and reach agreement on a European recovery plan.
The revised proposal combines a €750 billion recovery fund with a seven-year budget amounting to almost €1.1 trillion.
WindEurope CEO Giles Dickson said, “This is a crucial European Council. If they can agree the Commission’s proposed recovery plan, or a version of it, that will give a major boost to economic confidence – and kick-start growth and jobs including in renewable energy. The Next Generation EU recovery plan offers significant support for renewables: doubling the Sustainable Infrastructure Window in the InvestEU Programme; the new Strategic Investment Facility which will benefit the wind supply chain; and the expanded Just Transition Fund. Together, they have the potential to facilitate an innovative, accelerated and just European energy transition.
But the shape of the €560bn Recovery & Resilience Facility in the recovery plan will be critical. Member States shouldn’t be free to choose either to support the green or digital transitions. They need to support both! Substantial and measurable contribution to the green transition must be a central and standalone criterion for the approval of the plans. The EU must be rigorous about that. The EU Member States should aim to quickly secure agreement on an ambitious green recovery. Europe has no time to lose.”
EU Energy Ministers have already given a clear lead and signal to tomorrow’s European Council. They agreed last month that the EU needs to increase investment in renewables and enhance its renewable energy value chains. This echoes what the European Commission said in its industrial strategy in March: Europe needs “a more strategic approach to renewables”. Channelling recovery funding to renewables, electrification and grid infrastructure is one way of supporting the continued development of Europe’s world-leading wind industry.
Exclusively for WindEurope members:
At 15:00 tomorrow WindEurope will host a WindEurope members-only webinar on the implications of the recovery proposals for the European wind industry. Łukasz Koliński from the European Commission and Alessandro Boschi from the European Investment Bank will set out the perspectives of their respective Institutions.