Banca March: The EU aims to double wind power by 2030. Brussels is seeking to accelerate the relative importance of wind energy from the current 16% of energy consumed in Europe to 34%, from 204 gigawatts to 500 gigawatts. In doing so, it aims to reach the renewable energy consumption target of 42.5% of the total. Europe’s main wind turbine producers are suffering significant financial losses as a result of Chinese competition. In order to avoid what has happened in the photovoltaic industry, which is dominated by China, the EU will double the budget of the Innovation Fund to €1.4 billion. This will strengthen European industry, which will have to compete with the Chinese government’s advantages in strategic sectors.
Brussels seeks to accelerate share of wind energy from current 16% of energy consumed in Europe to 34%
