Electricity

Region gets EU support to wrap up just transition plans

Region-EU-support-just-transistion-plans

Photo: Coal miners will be in focus of just transition strategies (Pixabay)

Published

May 12, 2020

Country

Comments

0

Share

Published:

May 12, 2020

Country:

Comments:

0

Share

The European Commission has approved all requests made by 18 member states including Bulgaria, Croatia, Cyprus, Greece, and Romania, for support in the preparation of their territorial just transition plans, which each country will have to draw up to get access to funding from the Just Transition Mechanism.

The Just Transition Mechanism is part of the European Green Deal investment plan and it will mobilize at least EUR 100 billion of investments.

In the plans, states will identify territories that would be most impacted by the transition towards a climate-neutral economy

In the plans, member states will identify territories that would be most impacted by the transition towards a climate-neutral economy, set out the development challenges there and outline pathways for the transition until 2030 in close consultation with relevant national, regional and local stakeholders, the commission said on its website.

Over the next months the commission will provide targeted support

The European Union’s executive body added it would provide support until the end of the year for the preparation of territorial just transition plans.

Member states will hold the pen in drafting and finalizing the territorial just transition plans and then submit them for approval, the European Commission said.

The approval will unlock the support through the 3 pillars of the Just Transition Mechanism:

  1. the Just Transition Fund, which will provide grants that will mobilize EUR 30 billion to EUR 50 billion for social and economic transformation in just transition regions;
  2. a dedicated scheme under InvestEU, which will crowd in up to EUR 45 billion in private investment; and
  3. a public sector loan facility, which will mobilize EUR 25 billion to EUR 30 billion in public sector investment.

Recent studies showed postponing the coal phaseout in Balkan states would magnify expenses, but also that the switch to clean energy can create more jobs than currently exist in the coal sector.

The European Commission will provide tailor-made expertise

Belgium, Czechia, Spain, Finland, Hungary, Ireland, Italy, Lithuania, Latvia, Poland, Portugal, Sweden and Slovakia will also get support.

The list of 18 countries was approved after a call launched by the Commission at the end of February under the Structural Reform Support Programme.

It will provide tailor-made expertise to:

  • assess the social, economic and environmental impacts of the transition and outline the transition process up to 2030;
  • build a dialogue among stakeholders, such as citizens, business and civil society, to reach a common vision on how to go about the transition;
  • and identify actions to achieve a successful just transition.
Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Renera-kicks-off-50-MW-floating-solar-power-project-Romania

Renera kicks off 50 MW floating solar power project in Romania

24 April 2024 - Renera Energy is developing a 50 MW floating photovoltaic project in Romania. It would now probably be the biggest in Europe.

Renewables-Greece-get-shortcut-grid-connection-PPAs

Renewables in Greece get shortcut to grid connection with PPAs

23 April 2024 - Renewables projects in Greece with PPAs with energy-intensive industrial consumers get priority in the transmission grid connection queue

Brite Solar agrisolar panel plant Greece 2024

Brite Solar to complete agrisolar panel plant in Greece by end-2024

23 April 2024 - Greek startup Brite Solar is building a production line in Patras for transparent solar panels for agrivoltaic production

green wolt scotland floating wind farm

Green Volt, world’s largest floating wind project, obtains planning approval

23 April 2024 - The project has now received all its planning approvals and remains on track to be the first commercial-scale offshore wind farm in Europe