EU invests 300 billion euros in green energy
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The European Union is going to invest 300 billion euros in the development of “green” energy as part of its efforts to phase out energy resources from Russia, informs publication Corriere del Ticino with reference to the head of the EC Ursula von der Leyen.
“Ultimately, the best way to get rid of Russian fossil fuels is to accelerate our transition to clean energy sources. <…> That is why, through our RePowerEU initiative, we are investing up to 300 billion euros to accelerate the “green transition,” she said, adding that the price of solar energy is now much cheaper than “polluting fossil fuels.”
In addition, the President of the European Commission said that the EU is preparing an emergency structural reform of the European electricity market.
Also, the European Union should not become dependent on China, since a third of all rare earth elements needed to create green energy technologies are mined there, she added.
At the end of July von der Leyen urged to prepare for a complete cessation of Russian gas supplies, which “sooner or later” will happen. She called on the EU countries, which are little dependent on supplies from Russia, to also start saving gas, because they will not be able to avoid the consequences of a possible cessation of supplies to the EU internal market.
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