EIB Vice-President: Dramatic changes in Europe’s energy landscape due to war

The effects of the war in Ukraine and the planning of the next day in the energy landscape were at the heart of the 7th Delphi Economic Forum.

As Christian Kettel Thomsen, Vice President of the European Investment Bank, points out, the war in Ukraine has dramatically changed the energy situation in Europe. He stressed that governments want to break the Russia-Europe interdependence, which has implications for households and businesses, with a sharp rise in energy prices.

He argued that the goal of complete independence from Russia is in line with Paris’s goals for 2050, estimating that Renewable Energy Sources will lower prices in the medium and long term. “But in the short term, countries can use fossil fuels to meet their needs,” said Thomsen, adding that in Greece, too, the phasing out of lignite will take longer than originally estimated.

During the conversation with the journalist Thanks Floudopoulosresponsible for his business reporting Capital.gr, the Vice President of the European Investment Bank noted that in Greece there is room to increase energy efficiency in buildings and industry, saying that the EIB intends to finance projects for RES and the carbonization of the islands. The goal is for the next three years to increase the energy efficiency of the building sector, to develop more RES and to improve the interconnection of infrastructure.

He pointed out that the bank also supports investments in hydrogen, which has great potential in the medium and long term to replace other forms of energy in fertilizers, chemicals, industry, while it can also help in energy storage. Mr Thomsen added that smart cash financing was being considered, especially on the islands.

Source: Capital

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