MADRID: Spain will invest 4.3 billion euros ($5.11 billion) to kick-start the production of electric vehicles and batteries as part of a major national spending programme financed mostly by European Union recovery funds, the government said on Monday. Prime Minister Pedro Sanchez said in a presentation the government-run plan, which aims to spur private investment, […]
Italy’s ERG Pledges 2.1 Billion Euros to Become Pure Green
Italy’s ERG pledged on Friday to spend 2.1 billion euros ($2.5 billion) over the next five years to complete its transition to an entirely renewable company and drive earnings. Already Italy’s biggest wind operator, which generates some 60% of earnings from wind power, ERG said it aimed to add 1.5 gigawatts (GW) of capacity by […]
EU Commission Approves 400 Million Euros Danish State Aid for Renewable Energy
“This Danish scheme will contribute to substantial reductions in greenhouse emissions, supporting the objectives of the Green Deal,” the commissioner in charge of competition, Margrethe Vestager, said. The European Commission on Tuesday approved 400 million euros ($480.12 million) Danish state aid supporting the production of electricity from renewable sources, according to a statement. “This Danish […]
Spain’s Iberdrola seeks EU funds for large-scale floating wind power farm
Several projects are underway in Europe to build turbines on floating platforms where the seabed is too deep for fixed structures MADRID: Energy group Iberdrola plans to spend more than 1 billion euros ($1.2 billion) on an industrial-scale floating wind power farm off the Spanish coast if it secures help from a fund that seeks to lift […]
Portugal’s Galp sees further pandemic damage, Q3 recovery still uncertain
The company said recovery relied on a number of factors, including government policies, the impact of the pandemic on the wider economy and supply and demand for oil LISBON: Portugal’s Galp Energia said on Monday the collapse in demand caused by the coronavirus pandemic was set to further impact its performance in the second quarter […]