The Commission unveiled the RepowerEU plan in May
RepowerEU financing agreed
Innovation Fund will supply €12bn, with €8bn coming from early auctions of ETS allowances
The Council of the EU and the European Parliament have reached a provisional agreement on the inclusion of RepowerEU proposal measures into member states’ national recovery plans. The European Commission unveiled RepowerEU in May as a response to Russia’s war on Ukraine to speed up the energy transition and diversify energy supplies away from Russia. The plan aims to reduce the demand for Russian gas by 35pc by 2030 compared with 2019. €20bn – Additional grants from Commission RepowerEU will provide EU member states with up to €300bn ($320mn) to achieve this. Most of the money will come from unspent loans from the Covid-19 Recovery and Resilience Facility, as well as reallocated mone
Also in this section
27 September 2023
Investment in African offsets and ambitions to create a trading hub demonstrate Mideast Gulf state’s commitment to growing markets
26 September 2023
Newly launched Taiwan Carbon Solution Exchange is expected to enable companies to trade in both domestic and international credits
22 September 2023
A flurry of interest in direct air capture signals a key role for the technology in the push for net zero
21 September 2023
Technology company says its latest technologies can achieve 30–50% cost reductions at the capture stage
