The EU Parliament on Tuesday approved the revision of the Renewable Energy Directive (RED) which raises the bloc's 2030 binding renewables target to at least 42.5% of final energy consumption, with the aim of achieving 45%.
The legislation received approval with 470 votes in favour, 120 against, and 40 abstentions. It will now need to undergo formal endorsement by the EU Council to be enacted into law.
The legislation aims to streamline the permitting process for new renewable energy projects, setting a maximum approval period of 12 months for designated "renewables go-to areas" and 24 months elsewhere.
In the transport sector, the deployment of advanced biofuels and a higher quota for renewable fuels like hydrogen is expected to result in a 14.5% reduction in greenhouse gas emissions by the end of this decade.
Additionally, a target for innovative renewable energy technology of at least 5% of newly installed renewable energy capacity has been set and a binding framework for cross-border energy projects has been established.
"We have designated renewables as an overriding public interest, streamlining their approval process. Our focus encompasses wind power, photovoltaics, hydropower, geothermal energy, and tidal currents. Biomass from wood will remain classified as renewable energy. Under the principle of ‘Positive silence’, investments will be deemed approved in the absence of administrative feedback. We now urgently need an EU electricity market design and an immediate shift to hydrogen for a greener transition", commented lead MEP Markus Pieper.
Anna is a DACH expert when it comes to covering business news and spotting trends. She has also built a deep understanding of Middle Eastern markets and has helped expand Renewables Now's reach into this hot region.