WindEurope today congratulated the Industry Committee of the European Parliament for backing a binding target of at least 35% renewable energy for 2030 and more stringent renewable energy laws.
Members of the European Parliament voted on the Committee’s position on the post-2020 Renewable Energy Directive, steered by Spanish MEP José Blanco López. The Committee made important improvements to the original European Commission proposal. These also include: visibility to investors on public support for renewable energy deployment; a reinforced investment protection clause; and an improved framework for Guarantees of Origin and corporate renewable Power Purchase Agreements (PPAs).
“The language on investment protection is also a step in the right direction. It would put an end to retroactive changes which have caused thousands of job losses in his own country. Regulatory stability remains the bedrock of investor confidence and the strong industrial base of wind energy across the EU. We also congratulate the Parliament on clarifying the provisions on Guarantees of Origin and corporate Power Purchase Agreements. The text would preserve the direct link between wind energy producers and consumers and ensure the emerging PPA business model continues to thrive.”
Following the Industry Committee vote, it will then be the Council of the EU’s turn to define its position on the Commission’s proposals for a Renewables Directive and Governance Regulation at the 18 December Energy Council meeting.