The European Union aims to significantly ramp the deployment of renewable energy, with a goal to roll out a record 100 GW of renewable capacity next year, after more than doubling deployment in 2022 to 50 GW, according to remarks by EU Commission President Ursula von der Leyen today at the COP27 climate conference in Sharm El-Sheikh, Egypt.
Von Der Leyen said that the plans form part the EU’s REPowerEU, its €300 billion strategy, proposed in May, to reduce European reliance on Russian fossil fuels through measures including the deployment of renewable and clean energy capacity.
According to the EU Commission President, “the global fossil fuel crisis must be a game changer,” with the move to dramatically scale renewable energy deployment serving both the need to address climate change and to build energy security.
Von Der Leyen said:
“Because we know that every kilowatt-hour of electricity that we generate from renewable sources – like solar and wind, and green hydrogen – is not only good for our climate, but also good for our independence and our security of supply.”
Von Der Leyen also highlighted several of the clean energy and climate-focused initiatives supported by the EU at COP27, including signing new hydrogen partnerships with Egypt, with Namibia and with Kazakhstan, and supporting countries including Vietnam and South Africa in the decarbonization of their economies.
In her remarks, von Der Leyen also urged developed countries to meet their obligations to mobilize $100 billion per year in climate finance, a milestone initially set for 2020, but yet to be met. A recent report by Canada and Germany indicated that the $100 billion target is likely to be hit next year.
Von Der Leyen said:
“For the second year in a row, we have exceeded €23 billion – despite the COVID-19 pandemic, despite the Russian war. And a big bulk of our climate finance goes already to adaptation. So it is doable and we call on others to step up, too.”