05/11/2022

Austria needs more investments for its energy transition

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"If Austria continues at this pace, it will fall short of its target with only 86.8% of the country’s total power generation being from renewable sources by 2030,” says Attaurrahman Ojindaram Saibasan, Senior Power Analyst at GlobalData.

Official Press Release GlobalData:

Substantial investments are required to meet Austria’s 2030 target of 100% renewable electricity generation, says GlobalData

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The Austrian government has been actively encouraging the use of renewable sources for energy generation to help reduce the country’s dependence on fossil fuels, notes GlobalData, a leading data and analytics company. Austria’s recently submitted National Energy and Climate Plan (NECP) 2021-2030 focuses on the decarbonization and energy efficiency dimensions and related policies.

Attaurrahman Ojindaram Saibasan, Senior Power Analyst at GlobalData, comments: “The country’s target for greenhouse gas (GHG) emission reduction is set at 36% compared to 2005 levels. Austria’s NECP indicates that the country plans to rely on a 100% renewable electricity system by 2030. However, at the moment, electricity generation from renewables (including hydropower) only accounts... ... More: Official Press Release GlobalData