• Gustavo Bernal Torres

EU Unveils $220bn Plan to Ditch Russian Energy

The measures include a mix of EU laws, non-binding recommendations to governments in the EU’s 27 member countries.

  • Taken together, Brussels expects them to require 210 billion euros in extra investments by 2027 and 300 billion euros ($314bn) by 2030 on top of those already needed to meet the bloc’s 2030 climate target. Ultimately, it said the investments would slash Europe’s fossil fuel import bill.

  • Those investments include 86 billion euros ($90bn) for renewable energy and 27 billion ($28bn) for hydrogen infrastructure, 29 billion euros ($30bn) for power grids and 56 billion euros ($59bn) for energy savings and heat pumps.

Source: https://www.aljazeera.com/news/2022/5/18/eu-rushes-out-210-billion-euro-investment-to-ditch-russian-energy


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