EUROPEAN UNION

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Context

• The European Commission has recently released a draft plant to unveil a 195-billion-euro plan to stop importing Russian fossil fuels by 2027, combining a faster rollout of renewable energy and energy savings with a switch to alternative gas supplies.

About the draft

• It includes a target for a 45% share of renewable energy by 2030, replacing the current 40% proposal, and a 13% cut in EU-wide energy consumption by 2030 compared with expected use, replacing the Commission's current 9% proposal.
• It will also outline plans to produce 10 million tonnes of renewable hydrogen by 2030 and import another 10 million tonnes, supported by legislation defining which types of hydrogen can count as renewable.

India-EU on RE

• In December 2021, both the sides participated and jointly agreed on a detailed work programme until 2023, to implement the 2016 EU-India Clean Energy and Climate Partnership.
• The European Union and India are closely cooperating on climate action and on ensuring affordable, clean and secure energy, which is a focus area for both sides.
• India and the EU also agreed to exchange closely on clean energy in the frame of the G20.

https://www.reuters.com/business/energy/eu-readies-195-billion-euro-plan-quit-russian-fossil-fuels-2022-05-12/