A new EU energy initiative which will provide access to sustainable energy for an additional 500 million people in developing countries by 2030 was today announced by European Commission President, José Manuel Barroso.
Energy Development Initiative
The Initiative was conceived as a public-private project that would support the UN’s Sustainable Energy for All package launched in January. Its goals for 2030 include:
- Universal energy access for 500 million people;
- A doubling of the share of renewables in the global energy mix;
- A doubling of the global energy intensity rate.
Commissioner for Development Andris Piebalgs, who spoke shortly after the launch of the Initiative, said that developing countries that ‘opt in’ to a series of EU reforms, with capacity-building and policy development programmes, will also benefit from increased private investment. Decarbonisation was fully compatible with all of these, in Commissioner Piebalgs’ view.
“A windmill or a solar project doesn’t require a big grid so our focus is mostly on this part of the road,” he said. “I think [decarbonisation] is do-able because there is a lot of renewable potential in developing countries.”
Given the scale of the energy crisis in the developing world, President Barroso said that a 30% increase in EU investment was needed by 2030.
“In the short term we’re looking to provide another €750 million over the next two years for renewable energy projects,” Barroso said. “This support will leverage the same amount many times over.”
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