Financing

EGEC welcomes the Commission's effort to assess the state of public funding and the capacity of EU countries to increase the uptake of private investment in energy efficiency. We firmly believe that geothermal energy can give a great contribution towards this objective.

EGEC welcomes the Commission effort to provide guidance to Member States and market actors on how to unlock private investment, notably by developing innovative financing tools, scaling up financial instruments and making the most of public budget support.

EGEC provided its answer to a questionnaire which allowed stakeholders to suggest potential revisions of existing activities that are already covered in an EU Taxonomy Delegated Act in force (see Taxonomy Climate Delegated Act and Taxonomy Complementary Delegated Act) or under scrutiny by EU co-legislators (see Taxonomy Environmental Delegated Act and amendments to the Taxonomy Climate Delegated Act) or to suggest new economic activities that should be added to the EU Taxonomy. 

The Commission is consulting Member States on proposal for a Temporary Crisis and Transition Framework with a reform of the State Aid rules. Here are the proposals for geothermal.

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The Batteries Strategy cannot be implemented without a sustainable supply of Lithium, with security of supply ‘Made in Europe’.

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Brussels 26 October: Reacting to the conclusions of the extraordinary Energy Council, the heads of 7 renewable energy associations call upon Europe to prioritise the diversification of renewable energy supply as a matter of urgency. A wider range of renewables will deliver a cleaner energy system that protects citizens and businesses from future energy shocks. To deliver on this 100% renewables future, action is needed now: • The revised Renewables Directive needs a sub-target to incentivise national governments to roll out innovative and diverse renewable sources by 2030; • The 2022-23 Horizon Europe Work Programme should prioritise diverse renewable energy technologies with the greatest potential for innovation and scale-up; • The European Commission needs to start modelling how a system of diverse renewables will operate, and to inform policy-making with these findings.   Download the full PR text

EGEC sent an official letter to the members of the Platform on Sustainable Finance to ensure that the “Full list of Technical Screening Criteria” in Annex B accurately reflects the environmental benefits of geothermal technologies.

As the European Commission prepares criteria for supplementary Delegated Act in Autumn, NGOs outline how including gas in the Taxonomy would turn it into a greenwashing tool, completely undermining its credibility and sending a disastrous global signal.