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EIT InnoEnergy welcomes the European Commission’s “Fit for 55” package of legislative proposals

We welcome the European Commission’s “Fit for 55” package of legislative proposals. It is imperative that our regulatory framework provides fertile ground for achieving the new target of a -55% reduction in GHG emissions in the EU by 2030.

Enabling and benefiting from three key pillars

At EIT InnoEnergy, our mandate has always been to accelerate a sustainable energy transition. Our ecosystem is set to advance that goal even faster, enabling and benefiting from three key pillars of the “Fit for 55” package.

 

  • The newly ambitious 2030 targets such as 40% of renewable energy sources (RES) in energy consumption or 39% energy efficiency by 2030 will create an increased demand for sustainable energy technologies. For our supported innovations, that means bigger opportunities and earlier market penetration.

 

  • The proposed enabling framework for the deployment of green technologies, such as improved RES permitting, facilitated RES PPAs and accelerated sector integration, will facilitate more sustainable energy projects for the innovations we support and de-risk their development.

 

  • Finally, an increased and more predictable CO2 price together with measures levelling the playing field with external competition are welcomed to incentivise investment in innovative low-carbon industrial projects in Europe.

Boosting the European Green Deal

This package will not only increase innovation, but it will also sow the seeds for additional investment into sustainable energy in Europe’s economy, and ultimately it will accelerate and boost the European Green Deal for the benefit of all.

 

To read about how else EIT InnoEnergy is supporting the European Green Deal, click here for an overview on our Industrial Value Chains.