EU: Von der Leyen announces € 300 billion package for energy independence from Russia

Putin’s war upsets global energy market, says Commission President Ursula von der Leyen

He noted that saving energy is the fastest and cheapest way to deal with the current energy crisis.

“Therefore, we will increase the EU energy efficiency target for 2030 from 9% to 13%. And we will increase the 2030 target for the EU ‘s renewable energy sources from 40% to 45%,” said Ursula von der Leyen.

At the same time, he spoke about a proposal to speed up licensing procedures for renewable energy sources and related infrastructure, but also a proposal for a solar roof obligation for commercial and public buildings by 2025 and for new residential buildings by 2029.

“We know that when Europe works together it has more influence. The leaders of the EU-27 governments have agreed to set up a platform for the common market for gas, LNG and hydrogen. As part of our REPowerEU project, we are proposing a business move forward. “With a common procurement mechanism and a common approach to supplier countries. In this way, we can ensure the import of energy we need without competition between our Member States,” she said, noting that these require huge investments and reforms.

“We are mobilizing close to 300 billion euros. About 72 billion euros in grants and 225 billion euros in loans,” he said. In addition, he referred to EU defense.

We must do the same in defense. Member States announced an additional € 200 billion in defense spending in the coming years, he noted.

“We have to make sure that this money is spent in a coordinated way,” said Ursula von der Leyen, noting that “Europe has been recognized by both the EU and NATO.”

“We are asking for a joint supply because it is better operationally for the armed forces, financially and industrially,” he added.

Finally, the President of the Commission spoke about the creation of a Task Force with the Member States to coordinate immediate replacement and procurement needs in this area.