John Ainger
Tue, May 10, 2022,
(Bloomberg) -- More than 100 companies from Microsoft Corp. to Unilever Plc want the European Union to intensify its focus on renewable energy as the bloc races to end its dependency on Russian fossil fuels.
“At the core of the current energy security and price crises sits an overdependence on volatile, imported fossil gas, oil and coal,” chief executives and other business leaders said in a letter to European Commission President Ursula von der Leyen. “This is the time to be bold and double down on delivering the Green Deal,” the EU’s push for carbon neutrality by mid-century.
The EU can accelerate its shift by scaling up investments in renewable energy, improving building insulation and encouraging businesses to choose low-carbon technologies, according to the letter seen by Bloomberg. Tax cuts and income-support measures could help spur the change, said the companies, which include Iberdrola SA and retailer H&M.
Moscow’s invasion of Ukraine in February exacerbated an energy-supply crunch already under way in Europe, sending commodity prices soaring to record levels. Now the continent is facing potential fuel disruptions as Russia -- the EU’s biggest gas provider -- threatens to cut supplies if buyers don’t pay in rubles.
Next week the EU is set to launch its plan to slash the use of Russian gas by two-thirds this year. It’s set to include measures that will speed the permitting process for wind and solar farms, while also creating incentives for consumers to use less energy.
Before the war, Russia was responsible for around 40% of the EU’s gas imports, a figure the bloc wants to bring down to zero this decade. While the EU is burning more coal and seeking energy from alternative sources that could temporarily raise emissions, it wants to accelerate the transition in the longer term.
The CEOs called for a strengthening of key pillars of the Green Deal by increasing ambition in areas like the EU’s carbon market, albeit with more support for domestic industry. They’re also seeking to increase the specialized workforce needed for the transition to cleaner energy.
Solar rooftops, manufacturing to get boost under draft EU plan
Tue, May 10, 2022
By Kate Abnett
BRUSSELS, May 10 (Reuters) - The European Commission hopes to jumpstart a large-scale rollout of solar energy and rebuild Europe's solar manufacturing industry, as part of its bid to wean countries off Russian fossil fuels, a draft document seen by Reuters showed.
"Solar electricity and heat are key for phasing out EU's dependence on Russian natural gas," the Commission said in the draft, due to be published next week in a package of proposals to end the European Union's reliance on Russian oil and gas.
Solar photovoltaics (PV) costs have plunged by more than 80% over the last decade, but the technology produced only 5% of EU electricity in 2020. Solar's share in heat production was even lower, at 1.5%.
Brussels would launch a "European Solar Rooftops Initiative" to help cut gas-fuelled power and heating in homes, offices, shops and factories, the draft said.
The scheme would require the EU and national governments to take action this year to limit permitting times to three months for rooftop installations. It would push countries to use EU funding and launch support programmes for rooftop panels, and install solar energy in all suitable public buildings by 2025.
Another EU scheme would bring together governments and training providers to focus on skilling solar sector workers, while an "EU Solar Industry Alliance" would use the bloc's budget and carbon market "innovation fund" to support investments in manufacturing.
Europe has around 14 planned solar component manufacturing projects, but some need billions of euros in financing to launch.
China supplied 75% of EU solar panel imports in 2020. Europe has struggled to compete with its own large-scale factories, despite the EU imposing anti-dumping and anti-subsidy controls on solar panels from China between 2013 and 2018.
"The solar turnaround has never been tackled in concrete terms," said EU Green lawmaker Michael Bloss, who alongside countries including Austria, Lithuania and Spain, has called for Brussels to tackle the issue with legal tools, rather than voluntary schemes - such as by legally requiring new buildings to have solar rooftops on flat roofs, public buildings and supermarkets across Europe.
A separate draft document, seen by Reuters, would tweak EU law to fast-track permitting deadlines for some renewable energy projects.
Danish Renewable Firm Said to Consider Stake Sale to Fund Growth
Francois de Beaupuy and Jan-Henrik Förster
Tue, May 10, 2022
(Bloomberg) -- European Energy A/S is considering selling a 10% stake that could value the Danish renewable power company at as much as 3 billion euros ($3.2 billion), people familiar with the matter said.
The closely held company is working with a financial adviser to help raise funds for its next phase of expansion, the people said, asking not to be identified discussing confidential information. The company could be valued at 2.5 billion euros to 3 billion euros in the planned transaction, they said.
Talks are ongoing and there’s no certainty a deal will materialize, the people said. A spokesperson for the Copenhagen-based firm declined to comment.
The Danish solar and wind operator, which is developing projects in more than a dozen European nations as well as in the U.S., Brazil and Australia, is seeking to benefit from investor interest in renewables as nations push to accelerate the fight against global warming. The Danish government alone plans to quadruple the production of solar and onshore wind energy by 2030 to support the green transition.
Europe is also seeking to quicken its move toward renewables following Russia’s war on Ukraine, and the consequent uncertainty over oil and gas supplies.
European Energy, founded in 2004, aims to have 1.5 gigawatts of clean power capacity under construction this year. It says it had 20 gigawatts in development in Europe at the end of last year. The company predicted in February that its earnings before interest, taxes, depreciation and amortization will rise 66% this year to 135 million euros.
It is also among a group of companies that recently signed a partnership to provide methanol produced with renewable power to help shipping giant A.P. Moller-Maersk A/S cut its use of fossil fuels.
Tue, May 10, 2022
By Kate Abnett
BRUSSELS, May 10 (Reuters) - The European Commission hopes to jumpstart a large-scale rollout of solar energy and rebuild Europe's solar manufacturing industry, as part of its bid to wean countries off Russian fossil fuels, a draft document seen by Reuters showed.
"Solar electricity and heat are key for phasing out EU's dependence on Russian natural gas," the Commission said in the draft, due to be published next week in a package of proposals to end the European Union's reliance on Russian oil and gas.
Solar photovoltaics (PV) costs have plunged by more than 80% over the last decade, but the technology produced only 5% of EU electricity in 2020. Solar's share in heat production was even lower, at 1.5%.
Brussels would launch a "European Solar Rooftops Initiative" to help cut gas-fuelled power and heating in homes, offices, shops and factories, the draft said.
The scheme would require the EU and national governments to take action this year to limit permitting times to three months for rooftop installations. It would push countries to use EU funding and launch support programmes for rooftop panels, and install solar energy in all suitable public buildings by 2025.
Another EU scheme would bring together governments and training providers to focus on skilling solar sector workers, while an "EU Solar Industry Alliance" would use the bloc's budget and carbon market "innovation fund" to support investments in manufacturing.
Europe has around 14 planned solar component manufacturing projects, but some need billions of euros in financing to launch.
China supplied 75% of EU solar panel imports in 2020. Europe has struggled to compete with its own large-scale factories, despite the EU imposing anti-dumping and anti-subsidy controls on solar panels from China between 2013 and 2018.
"The solar turnaround has never been tackled in concrete terms," said EU Green lawmaker Michael Bloss, who alongside countries including Austria, Lithuania and Spain, has called for Brussels to tackle the issue with legal tools, rather than voluntary schemes - such as by legally requiring new buildings to have solar rooftops on flat roofs, public buildings and supermarkets across Europe.
A separate draft document, seen by Reuters, would tweak EU law to fast-track permitting deadlines for some renewable energy projects.
(Reporting by Kate Abnett; editing by David Evans)
EU plans one-year renewable energy permits for faster green shift
Kate Abnett
Mon, May 9, 2022
BRUSSELS, May 9 (Reuters) - The European Union executive wants to speed up the bloc's green transition and cut its reliance on Russian fuels by allowing some renewable energy projects to receive permits within a year, a draft document shows.
Brussels will next week unveil a package of measures to end the European Union's reliance on Russia, by boosting renewable energy, saving energy and increasing gas imports from elsewhere.
As part of this, the European Commission will propose rules requiring countries to designate "go-to areas" of land or sea suitable for renewable energy, where such projects would have a low environmental impact, the draft legislative proposal shows.
"The permit-granting process for new projects located in renewables go-to areas shall not exceed one year," the document said, adding that this could be extended by three months in "extraordinary circumstances".
That compares with the EU's current two-year deadline for permitting such schemes, which can also be extended by an extra year. Projects outside of go-to areas would stick to this timeline, the draft said.
Renewable projects often face far longer delays, however, owing to red tape, local opposition or concerns about protecting endangered species, raising concerns that the bloc will struggle to expand wind and solar energy fast enough to meet climate change goals.
In Greece, for example, eight years is a typical timeline for approving wind energy projects, the Hellenic Wind Energy Association said.
"Renewable energy sources are crucial to fight climate change, reduce energy prices, decrease the Union's dependence on fossil fuels and ensure the Union's security of supply," the document said.
Permitting and building renewable energy projects would be labelled as in the "overriding public interest", enabling a simplified assessment. EU citizens would still have the right to participate in decisions on the projects, the draft said.
Go-to areas would avoid protected sites or bird migration routes, and prioritise built areas like rooftops, roads and railways, industrial sites and public land around them.
The overall areas would be subject to an environmental assessment, but individual projects would no longer need one, unless they would significantly affect the environment in another EU country, the draft said.
Smaller projects with less than 150kW capacity in go-to areas would face a faster six-month permitting process, or nine if there are issues around safety or the impact on the power grid.
The speedier permit rules would not apply to plants that burn biomass for energy. (Reporting by Kate Abnett; Editing by Alexander Smith)
Kate Abnett
Mon, May 9, 2022
BRUSSELS, May 9 (Reuters) - The European Union executive wants to speed up the bloc's green transition and cut its reliance on Russian fuels by allowing some renewable energy projects to receive permits within a year, a draft document shows.
Brussels will next week unveil a package of measures to end the European Union's reliance on Russia, by boosting renewable energy, saving energy and increasing gas imports from elsewhere.
As part of this, the European Commission will propose rules requiring countries to designate "go-to areas" of land or sea suitable for renewable energy, where such projects would have a low environmental impact, the draft legislative proposal shows.
"The permit-granting process for new projects located in renewables go-to areas shall not exceed one year," the document said, adding that this could be extended by three months in "extraordinary circumstances".
That compares with the EU's current two-year deadline for permitting such schemes, which can also be extended by an extra year. Projects outside of go-to areas would stick to this timeline, the draft said.
Renewable projects often face far longer delays, however, owing to red tape, local opposition or concerns about protecting endangered species, raising concerns that the bloc will struggle to expand wind and solar energy fast enough to meet climate change goals.
In Greece, for example, eight years is a typical timeline for approving wind energy projects, the Hellenic Wind Energy Association said.
"Renewable energy sources are crucial to fight climate change, reduce energy prices, decrease the Union's dependence on fossil fuels and ensure the Union's security of supply," the document said.
Permitting and building renewable energy projects would be labelled as in the "overriding public interest", enabling a simplified assessment. EU citizens would still have the right to participate in decisions on the projects, the draft said.
Go-to areas would avoid protected sites or bird migration routes, and prioritise built areas like rooftops, roads and railways, industrial sites and public land around them.
The overall areas would be subject to an environmental assessment, but individual projects would no longer need one, unless they would significantly affect the environment in another EU country, the draft said.
Smaller projects with less than 150kW capacity in go-to areas would face a faster six-month permitting process, or nine if there are issues around safety or the impact on the power grid.
The speedier permit rules would not apply to plants that burn biomass for energy. (Reporting by Kate Abnett; Editing by Alexander Smith)
Danish Renewable Firm Said to Consider Stake Sale to Fund Growth
Francois de Beaupuy and Jan-Henrik Förster
Tue, May 10, 2022
(Bloomberg) -- European Energy A/S is considering selling a 10% stake that could value the Danish renewable power company at as much as 3 billion euros ($3.2 billion), people familiar with the matter said.
The closely held company is working with a financial adviser to help raise funds for its next phase of expansion, the people said, asking not to be identified discussing confidential information. The company could be valued at 2.5 billion euros to 3 billion euros in the planned transaction, they said.
Talks are ongoing and there’s no certainty a deal will materialize, the people said. A spokesperson for the Copenhagen-based firm declined to comment.
The Danish solar and wind operator, which is developing projects in more than a dozen European nations as well as in the U.S., Brazil and Australia, is seeking to benefit from investor interest in renewables as nations push to accelerate the fight against global warming. The Danish government alone plans to quadruple the production of solar and onshore wind energy by 2030 to support the green transition.
Europe is also seeking to quicken its move toward renewables following Russia’s war on Ukraine, and the consequent uncertainty over oil and gas supplies.
European Energy, founded in 2004, aims to have 1.5 gigawatts of clean power capacity under construction this year. It says it had 20 gigawatts in development in Europe at the end of last year. The company predicted in February that its earnings before interest, taxes, depreciation and amortization will rise 66% this year to 135 million euros.
It is also among a group of companies that recently signed a partnership to provide methanol produced with renewable power to help shipping giant A.P. Moller-Maersk A/S cut its use of fossil fuels.
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