32.9 C
Karachi
Tuesday, March 19, 2024
- Advertisement -
 

EU countries to pledge tenfold rise in offshore wind power capacity

TOP NEWS

Reuters
Reuters
Reuters is an international news organisation owned by Thomson Reuters

COPENHAGEN: Germany, Belgium, the Netherlands and Denmark will on Wednesday sign a pledge to build at least 150 gigawatts (GW) of offshore wind capacity in the North Sea by 2050, enough to power 230 million European homes,said the Danish energy ministry.

This ambitious pledge, would be an almost tenfold increase in the European Union’s offshore wind capacity, and the promise comes as the bloc tries to wean itself of planet-warming fossil fuels and its dependency on Russian energy.

The declaration will be signed at an offshore wind summit in Denmark, where European Commission’ President Ursula von der Leyen and German Chancellor Olaf Scholz will participate, among others.

The EU Commission targets 300 GW of wind at sea by 2050 up from the roughly 16 GW currently installed.

The European Union intends to mobilise up to 300 billion euros of investments by 2030 to end its reliance on Russian oil and gas, European Commission President Ursula von der Leyen said on Wednesday.

The investments will include 10 billion euros for gas infrastructure, two billion euros for oil, with the rest for clean energy, von der Leyen told reporters, adding that Brussels was also proposing higher legally-binding EU targets for renewable energy and energy savings by 2030.

“RePowerEU will help us to save more energy to accelerate the phasing out of fossil fuel and, most importantly, to kickstart investments on a new scale,” she said.

- Advertisement -
- Advertisement -
 

POLL

Will the PML-N led govt be able to steer Pakistan out of economic crisis?

- Advertisement -
 

MORE STORIES