‘EU to be a leader in renewable energy’

The EU is “serious” about being the leader in renewable energy. That was the message from the EU Climate Change and Energy Commissioner Miguel Arias Cañete at the European Renewable Energies […]

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By Jacqueline Echevarria

The EU is “serious” about being the leader in renewable energy.

That was the message from the EU Climate Change and Energy Commissioner Miguel Arias Cañete at the European Renewable Energies Federation Annual Reception.

He believes the Paris agreement and the fall in oil prices are an opportunity for investing in clean energy.

He added: “It sends a clear signal to investors, businesses and policy makers that the global transition to clean energy is here to stay.

“This is seen as an opportunity to invest in renewables.”

Mr Cañete believes a policy framework is needed to reflect the importance of green sources in the energy system.

He said: “In that respect 2016 will be a big year for the European Commission. Later this year we will put forward our proposals on a new electricity market design to help embed renewables at the heart of our system.

“The point is we need to reform the market to allow investment in new renewable energy capacity to be driven increasingly by the market.”

Mr Cañete announced the Commission will propose emissions targets for each Member State to be achieved by 2030 before summer.

He added: “That means making sure that clean energy drives our economy as much as it drives our path to our 2030 targets and our COP21 commitments.”