The success of the EU’s new REPowerEU plan will be dependant on the upgrade and modernisation of Europe’s electricity grid and a pan-European approach to achieve it.
The REPowerEU plan, released today by the European Commission, increases Europe’s renewable energy ambition to adapt to the shifting geopolitical landscape and achieve energy independence from Russian fossil fuels. The Commission proposes to increase the EU’s binding 2030 target for the share of renewable energy from 32% to 45%. Today, 22% of the energy consumed in the EU is renewable.
SuperNode CEO John Fitzgerald said:
“The EU’s new REPowerEU plan intends to make Europe independent from Russian fossil fuels. However, we should not lose sight of the long-term objective of a decarbonised Europe independent from all fossil fuels.
The increased renewable energy and energy efficiency targets for 2030 are ambitious and welcome. So is the Commission’s strong call on Member States to incentivise electricity grid innovation and adopt innovation-oriented regulatory frameworks. Other elements of the package, however, such as costly LNG imports and €10 billion in additional gas infrastructure investments, risk creating sunk cost and lock-in to fossil fuels from other regions of the world.”
According to REPowerEU, “the Commission will also encourage the swift development of crucial offshore grids” and suggests “integrated EU-wide infrastructure gaps and needs assessment for gas, electricity and hydrogen”.
Mr. Fitzgerald continued: “I look forward to seeing more concrete proposals on offshore grids, and hope that the European Commission will take the lead in its swift development. We need new innovative grid technologies and infrastructure, especially in the offshore space. We need a truly pan-European energy grid and we need to start building it now.”
CurrENT, of which SuperNode, is a founding member, has also responded to the plan emphasising the critical role Europe’s grids, especially offshore grids, will have to play.
CurrENT argues that more emphasis must be placed on innovative solutions that can contribute to using the grid as efficiently as possible. New technologies like SuperNode’s superconductor cables can vastly improve efficiency, costs and environmental footprint for long distance, bulk power transmission.
currENT is an industry association that represents the voice of Europe’s innovative grid technology companies. For more information visit their website here.
Link to currENT’s press release here.
Links to all REPowerEU Plans can be found here:
Contact:
Mr. Philip McCann
Communications Officer, SuperNode Ltd
Email: philip.mccann@supernode.energy
Tel: +353 86 075 7936