The EU Parliament approved the revision of the Renewable Energy Directive (RED) which raises the EU 2030 binding renewables target to at least 42.5% of final energy consumption, with the aim of achieving 45%. The legislation 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 “renewable 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.
