EIT InnoEnergy: [r]evolution in the European Energy Sector

Good news for Innovators: A [r]evolution in the European Energy Sector, creating many new business opportunities. InnoEnergy's trusted ecosystem has been formally identified as one of the key enabling players in Innovation in the Energy Transition.

On the 30 November, the European Commission published a package of measures to set up the framework of a competitive Energy Union for the coming years. The EU has set the ambitious challenge of cutting its CO2 emissions by 40% by 2030, increasing its renewable energy consumption share by 27%, reaching at least 27% energy savings compared to the current scenario, and achieving a 10% interconnection target.

According to the European Commission, reaching these objectives could only happen through three pillars: putting energy efficiency first, achieving global leadership in renewables and involving European citizens. To ensure these objectives are met, the EC has published a set of measures focusing on renewables, electricity market design, the governance of the Energy union and research and innovation.

The Vice-President for the Energy Union, Maroš Šefčovič, said on 30 November: “'oday’s package will boost the clean energy transition by modernising our economy. Having led global climate action in recent years, Europe is now showing example by creating the conditions for sustainable jobs, growth and investment. Today’s proposals touch upon all clean energy related sectors: research and innovation, skills, buildings, industry, transport, digital, finance to name but a few. These measures will equip all European citizens and businesses with the means to make the most of the clean energy transition.'

At InnoEnergy, we very much welcome the Winter Package which makes innovation a key driver of the EU strategy to build a resilient Energy Union to boost jobs, growth and investments in Europe.

In its Communication “Accelerating Clean Energy Innovation”, the EC intends to boost private investments in clean energy solutions via targeted policies, targeted financial instruments and funding to bring ideas to the market and create an impact. This is exactly the “raison d’être” of InnoEnergy: we support and invest in clean energy innovation and we bring it to the market. This is why the European Commission foresees a role for InnoEnergy, as underlined in the Communication, in notably bringing a project pipeline of clean energy innovation to the attention of private investors and/or EU funding.

At InnoEnergy, we would be very glad to contribute to the implementation of the European Commission’s policy recommendations established into the Winter Package.

You can find all documents of the Winter Package on the European Commission’s website.

For any further information, please contact Louise Coffineau: louise.coffineau@kic-innoenergy.com