The EU’s trillion-euro coronavirus recovery package may not support big renewable energy projects in the way that was expected. The EU is currently working through the details of a €1.85 trillion ($2.08 trillion) recovery package. Before the stimulus was signed off, a leaked document by the European Commission’s Directorate-General for Energy (DG Energy) ran through a serious of policy plans to marry the European Green Deal and the COVID-19 recovery effort. Those plans included a possible 15-gigawatt EU-wide renewable tender designed to help make up for a shortfall in national tenders. Support for green hydrogen was also suggested. But the plans have not survived a barrage of lobbying by vested interests and pushback from member states still married to a more traditional energy mix, according to multiple sources following the green recovery’s development. As things stand, Europe’s stimulus package “has no green strings attached — none,” said Patrick Graichen, executive director of the Agora Energiewende, think tank, speaking last week about the green recovery. At the same time, an alternative plan is emerging for renewables — more complex, and harder to quantify in scale or duration, but with the potential to be up and running imminently. It could be a trade-off worth making.
GTM 22nd June 2020 read more »