5
Apr
2022
Watch
Trans-European energy infrastructure (debate)
Mr President, ladies and gentlemen, when we talk about renewables, we must not only think about solar panels and wind turbines, but also about the networks that will transport green energy throughout the continent. Because if the European Union is serious about achieving climate neutrality, at least €50 billion of investments will be needed in the modernisation of the electricity grid and at least €65 billion for the development of a hydrogen transport and storage network, and this by 2030, practically tomorrow. This regulation is a step in the right direction: It not only lays the groundwork for strengthening and developing these great interconnections but, for the first time, no funding will be allowed for new projects based solely on fossil fuels. Certainly we would have liked a bolder measure and it is true that there are still too many exceptions. But on the whole, we believe that we should not stand in the way of this and, while we are asking the Commission for more ambition, we will not oppose this regulation.