European countries gave their endorsement today to a New Renewable Energy Directive. They confirmed a deal which negotiators from the Council and European Parliament reached on 14 June.
The Directive features ambitious provisions for the uptake of corporate renewable energy sourcing in Europe, starting with a binding EU-wide 32% renewables target for 2030, better long-term planning for public support, simplified permit granting process and an enabling framework for self-consumption in Europe including through corporate renewable PPAs.
Crucially, European countries will be required under this legislation to identify and remove existing administrative barriers to the development of corporate renewable PPAs and direct investments in renewable energy generation.
Finally, the agreed text strengthens for role of Guarantees of Origin (GOs) in tracking renewable electricity. Corporate renewable PPAs are singled out as one of the cases where GOs can provide traceability including for electricity benefitting from public support. GOs enable the companies directly investing in renewable electricity generation to combine their renewable electricity generation with consumption.
EU countries will retain some flexibility notably on issuing GOs which highlights the importance of the implementation phase now starting. The RE-Source Platform will pursue its activities and engage National Government to unlock their national potential for renewable corporate PPAs and investments in renewable energy, across Europe. EU countries must transpose the Directive into national legislation by 30 June 2021.
Note to Editors:
SolarPower Europe, WindEurope, The Climate Group and CDP (RE100) and WBCSD established the RE-Source Platform to drive the uptake of PPAs and renewable energy investments. This is the first multi-stakeholder alliance in Europe bringing together the interests of clean energy investors, buyers and suppliers. This Platform pools resources and coordinates activities to promote a better framework for corporate renewable energy sourcing at EU and national level.
The RE-Source Platform also organises an annual RE-Source Event – the largest and most influential corporate sourcing event in Europe. The RE-Source Event brings together all the major players in the PPA industry – from buyers to sellers to policymakers and more. The next edition will take place on 20-21 November 2018 at the Hotel Okura in Amsterdam.
For more information:
Kristina Thoring – Senior Political Communications Advisor, SolarPower Europe
T: +32 2 709 55 26,
Andrew Canning – Press & Comms Manager, WindEurope
T: +32 2 213 18 67,
M: +32 492 25 48 38,