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EU Needs To Double Grid Investment: Eurelectric

POWER

Europe needs to double the annual investments in electricity grids to €67bn over the next 25 years due to rising demand and the risks to miss decarbonisation targets, according to Eurelectric’s new Grids for Speed study released on Wednesday.

  • A lack of investments could hinder 74% of prospective connections in key decarbonation technologies such as renewables, heat pumps of EVs.
  • “For a successful energy transition, the EU needs massive amounts of additional grid capacity,” says Eurelectric’s president and Eon CEO Leonhard Birnbaum. “Whilst this will require a significant ramp up, the cost of not investing is even higher.”
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