Wind turbine park in Spain
Spain is to invest €140bn of European funds between now and 2026 as part of its Recovery, Transformation and Resilience Plan. Ecological transition, one of the plan’s four pillars along with digital transformation, gender equality and social and territorial cohesion, accounts for 37% of the budget.
Presented on 7th October 2020, the Spanish plan includes a massive increase in renewable installations (biogas, offshore wind turbines and green hydrogen), a fair energy transition and the development of intelligent electricity production infrastructure and storage. Within 10 years, 70% of Spanish electricity will need to come from renewable sources. The Spanish Government wants to incorporate renewable energy into the building and manufacturing sectors.
Prime Minister Pedro Sanchez has announced the installation of 100,000 electric vehicle charging points and the renovation of 500,000 homes to improve energy efficiency.
France, for its part, is going to invest €30bn in energy transition as part of its recovery plan. Named “France Relance”, the plan has a budget of €100bn over two years, of which 40% is European-funded. “We will ensure that all recovery decisions encourage a new growth model based on decarbonisation, energy conservation and green innovation. The recovery plan will be a green one,” indicated Bruno Le Maire at its launch in September 2020. The French Minister of the Economy and Finance has set out three priority sectors: energy-saving renovation work (with financial aid for home insulation), transport (€11bn, of which €4.7bn for the SNCF alone) and energy. Businesses will receive €9bn in energy transition support and €7bn will be earmarked for energy-saving renovation in buildings.