EU sets new target of reaching 32% renewable production by 2030
The European Union (EU) has decided to increase the share of renewable energy in its power production to 32% by 2030.
The union’s new target is higher than it had originally planned, yet it still remains lower than other governmental goals, Reuters reported.
Initially the EU suggested a renewable energy target of 27% but following a meeting between energy ministers on 11 June the new goal was set.
The conclusive law also states that the EU will phase out palm oil by 2030 in order to reduce greenhouse gas emissions.
In the review period, the bloc targets a 40% reduction of greenhouse gas emissions against a 1990 baseline.
The focus on emissions ultimately aims to follow the Paris Climate agreement and keep global warming below 2 degrees.
“The agreed 2030 binding target of 32 percent should be seen as a starting line for the race to greater ambition,” stated Wendel Trio, Director of the Climate Action Network Europe, Reuters reported.
The EU aims to reach 20% of renewable power in its mix by 2020, however experts argue a higher target could be set with the cost of renewables dropping.
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.