At the plenary session of the 14th assembly of the International Renewable Energy Agency (IRENA) in Abu Dhabi on Thursday 18 April, the European Commissioner for Energy, Kadri Simson, highlighted the need to make renewable energy projects more profitable and easier to finance to ensure the energy transition.
“We have simplified and clarified the regulatory framework. This is essential. By cutting red tape and tackling administrative bottlenecks, investment will flow more quickly”, said the Commissioner.
She returned to the EU’s commitments to speed up the granting of permits, as part of the updated Renewable Energy Directive (see EUROPE 13296/32), including, in particular, a single contact point for applicants and the phasing out of paper-based communication.
She also believes it is essential to give developers and manufacturers clarity over the project pipeline and to make the commercial environment more predictable.
“We will also give developers and investors a clearer vision by asking all EU countries to publish a calendar of their future renewable energy auctions, compiled in a European tool”, she announced.
Finally, Ms Simson emphasised the need for major reforms by the Member States to unlock a large proportion of investment, but also the need to explore innovative financing mechanisms, such as public-private partnerships, green bonds and investment platforms. (Original version in French by Pauline Denys)