in News Departments > FYI
print the content item

If the European Union (EU) hopes to reach its climate and energy objectives, Vestas CEO Ditlev Engel says it must promptly agree on binding post-2020 policy targets that will create the investment climate business needs to do its part. Regulatory uncertainty inhibits those investments. Vestas urges the EU to adopt a target of at least 30%  renewable energy and at least 40% greenhouse gas emission reductions by 2030.

Additionally, Vestas calls on the EU to end wasteful and counterproductive fossil fuel and nuclear subsidies and to fix the Emissions Trading System to ensure a carbon price robust and stable enough to drive investment decisions in favor of the green energy transformation the EU says it wants.

"By 2030, Europe’s electricity system must be flexible, responsive and based on competitive renewable energy such as wind. The 2030 climate and energy policy is Europe’s chance to create a sustainable, secure and economically vigorous future," says Engel. "EU leaders should seize the opportunity to adopt 2030 policies that will change the balance of incentives to favor green energy investments. 30% renewable energy and 40% greenhouse gas reduction targets will set the stage for business and industry to make the investments, take the risks and create the green growth, competitiveness and energy security that Europe needs. But it is a two-way street. An ambitious policy on climate and energy targets will drive investment. It’s time to act."


Trachte Inc._id1770
Latest Top Stories

Senate Passes Tax Extenders Bill With Wind PTC Extension

The legislation, which passed in the U.S. House earlier this month, will renew the critical production tax credit through the end of 2014 - giving developers only about two weeks left to start construction.


Transmission Study Shows Nebraska Could Handle A Lot More Wind Power

A new report released by the Nebraska Power Review Board finds that the state already has enough infrastructure to accommodate at least 2 GW of additional wind generation.


Can Wind Energy And Birds Coexist? Environmental Group Says Yes

The Environmental Defense Fund, a supporter of responsible wind energy development, points out ways to help mitigate impacts of turbines on birds and bats.


Another Study Finds Wind Turbines Do Not Affect Nearby Property Values

Research conducted by the University of Guelph focused on regions in Ontario, and the conclusion echoes that of previous studies.


Too Little, Too Late? U.S. House Approves Wind PTC Extension

The U.S. House of Representatives has passed a tax extenders package that would renew the wind production tax credit (PTC) and about 50 other expired tax breaks through 2014. The wind industry argues the short-term fix is virtually no fix at all.

Hybrid Energy Innovations 2015