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Back You are here: Home Business Europe Energy giants form coalition to ensure E.U.’s decarbonization

Europe

Energy giants form coalition to ensure E.U.’s decarbonization

Five large names in the European energy industry formed a corporate coalition that aims to reinforce the low-carbon energy policy in the regional bloc.

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Alpine-Energie, Dong Energy, First Solar, GE Energy and Shell, all big investors in gas and renewable energy projects, said they will together support the European Union’s climate mitigation plans.

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The European Union, under its “climate action roadmap,” seeks to be 100 percent dependent on renewable energy by 2050.

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By that time, carbon emissions should be reduced to 80 percent below 1990 levels through domestic reductions alone.

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In order to realize this ambitious goal, the European Commission has laid a concrete timetable to slash emissions by 20 percent by 2020, 40 percent by 2030 and 60 percent by 2040.

The five energy companies said they will work closely to provide practical solutions and to raise awareness regarding the need for an integrated European energy policy for 2030 and beyond.

“This partnership between the renewable energy and gas is a brand novel way of unifying the industry forces that are so essential for Europe to reach its 2050 decarbonization and energy goals,” said Jan Ingwersen, vice president of Dong Energy.

Launched last week at Brussels, the initiative was described as “a unique alliance” of companies from the energy sector, which aims to create the conditions for a European energy market anchored in the complementary use of renewable energy and gas.

“Renewables and gas are a strong match. Together they can deliver the reliable, low carbon-emitting and cost-efficient energy Europe calls for,” said Mr. Ingwersen.

“[E]vidence is clear that these two offer the most affordable, reliable and sustainable pathway toward energy security across the region,” said Stephan Reimelt, chief executive of GE Energy Germany.

“We have formed the Energy Partnership because together the partners can offer practical pathways to the future based on the synergy between renewables and gas,” stressed Jörg Gmeinbauer, director of Alpine – Energie. – EcoSeed Staff



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