Timmermans: energy price hikes should speed up green transition, not slow it down
Only about a fifth of the energy price increase can be attributed to the rising costs of CO2 emissions, while the rest is simply due to a market shortage, says the European Commission’s vice president in charge of climate issues.
CWP Global enters Ukrainian market with acquisition of 73 MW wind project
CWP Global has acquired a 73 MW onshore wind project under development in Ukraine, entering one of Europe’s largest energy markets.
CO2 tops EUR 60 for first time
Carbon permits reached almost EUR 61 per ton in the EU as power producers are struggling to obtain gas from Russia and wind has weakened
Record-breaking summer for solar panels – tenth of EU-27 electricity secured
Annual growth in solar power plants output needs to double to meet the European Union’s 2030 emissions targets.
G20 countries directed more funds to fossil fuels projects than to renewables
Since the beginning of 2020, the G20 countries have committed at least USD 296 billion for fossil fuels and USD 227 billion for renewables.
Not even carbon price of EUR 200 would make clean hydrogen competitive
As clean hydrogen remains far less cost-effective than fossil fuels, the EU is urged to adopt policies that would bring down its production costs and make it competitive with fossil fuels.
European Parliament wants fossil fuel subsidies phased out by 2025
Members of the European Parliament said that all environmentally harmful subsidies should be phased out by 2027.
Austria aims to cover all electricity consumption from renewables by 2030
The lower house of the Austrian parliament has adopted a bill aimed at ensuring that all electricity consumption is covered from renewables by 2030.