Greenpeace demands coal phaseout in Bulgaria by 2030
The government in Sofia should look up to Greece in its energy policy, according to Balin Balinov from Greenpeace Bulgaria, who called for a coal exit twenty years earlier than in the national plan. Environmentalists are pointing to the damage from maintaining thermal power plants using the fossil fuel. While the Minister of Energy Temenuzhka […]
Greek fossil fuel companies expanding their renewables portfolios
Hellenic Petroleum asked the EBRD for a EUR 75 million loan for a solar power project of 204 MW and its domestic competitor Motor Oil bought a 40 MW wind power plant. Major Greek firms are turning to renewables as energy transition gains traction. The drop in costs for the equipment for green energy production […]
Slovenia launches online platform for preparation of coal phaseout strategy
The Ministry of Infrastructure has set up an online platform as the main communication channel for the activities related to the preparation of the national strategy for phasing out coal and the restructuring of coal regions. In accordance with the National Energy and Climate Plan (NECP), Slovenia must prepare a long-term national strategy for the […]
EU preparing CO2 tax for products from other countries
The European Commission launched public consultations on taxation rules that would help its climate agenda. It expressed the intention to revise the internal Energy Tax Directive and to introduce a carbon border adjustment mechanism in line with the European Green Deal. The latter, effectively a CO2 tax, could be applied for imported and domestic goods […]
EU cuts Just Transition Fund to EUR 10 billion in COVID-19 recovery deal
The European Council reached an agreement on the seven-year budget through 2027 including a mechanism for the recovery from the effects of the coronavirus pandemic worth EUR 750 billion. The EU heads of state and government gave the green light for EUR 10 billion for the Just Transition Fund from the COVID-19 war chest, slashing […]
Fool’s Gold: Financial institutions waste billions on coal, undermining climate action
European financial institutions and international investors and banks including BlackRock and Japanese megabanks are keeping Europe’s terminally declining coal industry on life support, handing companies EUR 12 billion in investment, and EUR 9.8 billion in loans and underwriting in less than 1.5 years, according to a new report by Europe Beyond Coal and partners. Such […]
EPBiH has opted for decarbonization, but progress on building renewable energy capacities is slow
State power utility Elektropriveda Bosne i Hercegovine (EPBiH) has opted for decarbonization, company officials say, but time will tell how successful it will be. Emir Aganović, adviser to EPBiH’s general manager, says that progress so far has been slow and that there are numerous obstacles impeding the construction of replacement capacities – power plants using […]
Greece asks EU to approve state aid for 680 MW pumped storage project
GEK Terna is building two pumped storage hydropower plants and artificial lakes in Amfilochia in western Greece that will use an existing lower reservoir. The government filed its support scheme with the European Union’s competition authorities for clearance. The Ministry of the Environment and Energy of Greece has submitted a request to the European Commission […]