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Reuters reported that the European power lobby warned that Europe’s power grid cannot keep up with the continent’s rapid expansion of renewable energy and is becoming a major bottleneck in integrating more clean energy into the grid.
Leonhard Birnbaum, head of power industry body Eurelectric, said: In more and more parts of Europe we have just run out of reserves and the grid is becoming more and more of a bottleneck. “
The European Commission is drawing up plans to try to spur more grid investment, which will be published this month. More than 40 electricity interconnection projects are also expected to win EU “projects of common interest” (PCI) status, making them eligible for fast-track licensing and certain EU funding – which is still possible this year, according to a draft list of PCI projects seen by Reuters. Changes will be made prior to release later this month.
Birnbau. Brussels estimates that €584 billion in annual grid investment will be needed by 2030 to meet green targets. Much of this is expected to come from private sources or be paid for through grid tariffs.
(Source: Reuters Image source: freepik)
