Wind energy has been singled out in the European Commission’s (EC) Recovery Strategy to boost the green transition, WindEurope’s statement said on Wednesday.
Up to €1.85 trillion will be dedicated to the Recovery Strategy for this transition and as the main driver of economic recovery as well as key to Europe’s future growth and prosperity, it said.
According to the European Union's official website, in May 2020, the EC has proposed a 'powerful, modern and revamped long-term EU budget boosted by Next Generation EU, an emergency temporary recovery instrument, to help repair the immediate economic and social damage brought by the coronavirus pandemic, kickstart the recovery and prepare for a better future for the next generation.'
To protect lives and livelihoods, repair the Single Market, as well as to build a lasting and prosperous recovery, the EC is proposing to harness the full potential of the EU budget.
'Next Generation EU of €750 billion as well as targeted reinforcements to the long-term EU budget for 2021-2027 will bring the total financial firepower of the EU budget to €1.85 trillion,' according to the European Union's press release on Wednesday.
Commenting on the strategy, WindEurope CEO Giles Dickson, hailed the EC’s proposals on the Recovery Strategy as excellent and said it was “the big bazooka the EU economy requires.”
'It’s clearly going to be a green recovery and a boost for the energy transition. The Strategy singles out wind energy as one of the 'policy fundamentals of the recovery',' he said.
The EU wants wind to generate half of Europe’s electricity by 2050, he explained.
'That means huge investments, jobs and growth. Wind is ready to deliver. We look forward to the detailed proposals that’ll help make these investments happen,' he concluded.
By Gulsen Cagatay