European Parliament paves the way for increased ambition on 2030 renewable energy laws

Members of the European Parliament voted this morning on the Committee’s position on the post-2020 Renewable Energy Directive, steered by Spanish MEP José Blanco López. The Committee made important improvements to the original European Commission proposal. These also include: visibility to investors on public support for renewable energy deployment; a reinforced investment protection clause; and an improved framework for Guarantees of Origin and corporate renewable Power Purchase Agreements (PPAs).

WindEurope CEO Giles Dickson: “We commend MEP Blanco López and his colleagues for securing agreement on a 35% renewables target. It is not only affordable but also economically desirable. But ambition on the target only is not enough. Visibility on deployment volumes to 2030 also remains crucial to sustain wind energy’s contribution to the EU economy. In this light it’s very good the Committee adopted a five-year upfront schedule for public support to renewables. Knowing what the volume, timing and budget of renewable energy auctions is going to be helps the industry plan its investments in the supply chain. It secures economies of scale and brings down costs. We now expect the ITRE committee to back up this schedule with ambitious provisions on National Energy and Climate Plans as part of the Governance Regulation. Fair and forward-looking contributions from the Member States to the collective 2030 renewables target will be crucial for investor certainty and keeping jobs and growth in our domestic market.  

“The language on investment protection is also a step in the right direction. It would put an end to retroactive changes which have caused thousands of job losses in his own country. Regulatory stability remains the bedrock of investor confidence and the strong industrial base of wind energy across the EU. We also congratulate the Parliament on clarifying the provisions on Guarantees of Origin and corporate Power Purchase Agreements. The text would preserve the direct link between wind energy producers and consumers and ensure the emerging PPA business model continues to thrive.”

Following the Industry Committee vote, it will then be the Council of the EU’s turn to define its position on the Commission’s proposals for a Renewables Directive and Governance Regulation at the 18 December Energy Council meeting.