Editorial
date: 02/11/2023
Dear Reader,
As recently stated by President von der Leyen in her State of the Union speech in September, the EU wind sector is currently facing a unique mix of challenges. Achieving the recently agreed EU target of at least 42.5% renewable energy by 2030, with an ambition to reach 45% renewables, will require a massive increase in wind installed capacity with an expected growth from 204 GW in 2022 to more than 500 GW in 2030.
In this context, the European Commission came forward with an Action Plan which aims at maintaining a healthy and competitive wind energy supply chain, with a clear and secure pipeline of projects, attracting the necessary financing and competing on a level playing field globally. It is accompanied by a Communication on delivering on the EU's offshore energy ambition, including wind power, following up on the EU Offshore Renewable Energy Strategy adopted three years ago. Take a look!
In the ID-E initiative, October was a very dynamic and insightful month:
- We concluded Round 8 of Working Group (WG) meetings. Our members worked together to discuss and define the characteristics that pilot energy support schemes identified in previous WG meetings should have. The outcomes of each WG discussion are summarised in this edition.
- The ID-E Webinar Series #5 on the MFF and STEP took place on Tuesday 24 October. DG BUDG representatives unpacked the steps the European Commission is taking as part of the mid-term review, the impact and opportunities of STEP for the energy sector, and what lies ahead in view of the next MFF (2029-2034). The event report is available in this edition.
- We released the National Energy Support Schemes dashboard on the ID-E website. The dashboard offers a unique centralised overview of available financing schemes and instruments for energy investments and projects at EU Member State level.
What’s next?
- Round 9 of WG meetings will start in a couple of weeks. In this round, WG members will continue the work started in the previous round on possible pilot support schemes for the five segments of the energy value chain. We are also preparing interesting spotlight sessions, focusing on new initiatives and analyses of relevant topics for our work.
- Welcoming new WG members – we are in the process of onboarding new members of the WGs, selected following the call for applications that took place over the summer. New members will be invited to join the upcoming round of meetings and contribute to the discussions.
- Save the date! The 2nd edition of the ID-E Plenary will take place on Tuesday 23 January 2024, at Renaissance Hotel (Brussels, Belgium). More information on the agenda will follow in the coming weeks.
Do reach out if you have any recommendations on topics and speakers, or if you would like to refer a person or organisation to be part of the ID-E. Email lu_investors_dialogue@pwc.com – we would love to hear from you.
Yours truly,
The Editor