The European Investment Bank (EIB) has officially approved a EUR 55 million green loan to a joint venture between Iberdrola (75%) and Caja Rural de Soria (25%) for the construction of one of Castilla y León’s largest wind farms. The Buniel wind farm in the province of Burgos has a total capacity of approximately 100 […]
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Provisional agreement reached on European green bonds
The new regulation aims to prevent greenwashing in the bonds market. Issuers of bonds will be able to demonstrate that they are funding green projects aligned with the EU taxonomy, whilst investors will be able to identify high-quality green bonds more easily. The EU is taking further steps to implement its strategy on financing sustainable […]
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Electricity from renewable sources increased by 5% in the EU in 2021
In absolute terms, the production of electricity from renewable energy sources increased by almost 5% from 2020 to 2021. However, also gross electricity consumption increased mainly due to economic recovery after lifting COVID-19 restrictions. As a result, the share of renewable energy sources in gross electricity consumption in the EU only increased by 0.1 percentage points (pp), from 37.4% in 2020 to […]
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According to Eurostat, fossil fuels accounted for 70% of the total energy consumed in the EU
The EU continues to largely rely on fossil fuels for its overall energy supply, as illustrated by the ratio of fossil fuels in gross available energy (the total energy demand of a country or region). In 2021, fossil fuels made up 70% of gross available energy in the EU, remaining at the same level as in 2020. This percentage […]
Read MoreEU opens new rescEU energy hub in Poland
Commissioner for Crisis Management, Janez Lenarčič, and the Prime Minister of Poland, Mateusz Morawiecki, have visited and opened the new rescEU energy hub in Poland that will act as a logistical centre for delivering emergency energy assistance to Ukraine. The EU has awarded €114 million to Poland for purchasing generators to be part of this rescEU energy reserve. […]
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Europe boosts the production of water from the air from Cordoba
GENAQ, a young company that has developed a technology capable of obtaining pure water from the air, autonomously, economically, without installation and respectful of the environment. Water is a right, not a privilege. However, this is not the reality that lives much of humanity. One in four people worldwide still lacks access to safe drinking […]
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EU Cohesion policy: €869 million for a just climate transition in Spain
Spain will receive almost €869 million from the Just Transition Fund (JTF) following the adoption of the Just Transition Programme and its Territorial Just Transition Plan (TJTP). The funding will help the country firmly advance in the transition towards a climate-neutral economy in a fair way. Spain is on track to phase out coal for energy production ahead […]
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Council agrees on mechanism to limit excessive gas prices
EU energy ministers reached a political agreement on a Council regulation that sets a market correction mechanism to protect citizens and the economy against excessively high prices. The regulation aims to limit episodes of excessive gas prices in the EU that do not reflect world market prices, while ensuring security of energy supply and the […]
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First high-level roundtable on joint gas purchasing
The European Commission convened a high-level industrial roundtable to support the work of the EU Energy Platform in further advancing on joint gas purchasing which is due to kick off in 2023. The meeting follows the adoption by EU Energy Ministers of the Commission’s proposed Regulation on enhancing solidarity through better coordination of gas […]
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