STRONG MOMENTUM AND FAVORABLE ENVIRONMENT
President Obama’s electoral program also included highly ambitious wind energy goals, which involve doubling renewable energy output in the United States over the next three years, increasing installed capacity by 24,000 MW, in order for 10% of electricity consumed in 2012 to come from renewable sources, and 25% by 2025.
THE EUROPEAN UNION APPROVES DIRECTIVE 20/20/20
In 2008, a major step forward was taken towards a safe, sustainable and competitive European energy policy: in December, the European Parliament approved the final text of the Climate Change and Energy Package, a package of measures that includes the European Directive for the Promotion of Renewable Energy. This package sets three major goals to be achieved by 2020, as well as the mandatory nature thereof, thereby providing the necessary support for the development of the industry: reaching the point where 20% of final energy consumption comes from renewable sources and reducing greenhouse gas emissions by 20% from 1990 levels.
THE EUROPEAN UNION APPROVES DIRECTIVE 20/20/20
In 2008, a major step forward was taken towards a safe, sustainable and competitive European energy policy: in December, the European Parliament approved the final text of the Climate Change and Energy Package, a package of measures that includes the European Directive for the Promotion of Renewable Energy. This package sets three major goals to be achieved by 2020, as well as the mandatory nature thereof, thereby providing the necessary support for the development of the industry: reaching the point where 20% of final energy consumption comes from renewable sources and reducing greenhouse gas emissions by 20% from 1990 levels.
RENEWABLE ENERGY IN THE EUROPEAN UNION FOR 2020 Graphics Gallery 1
The Directive establishes a new legal framework, keeping domestic renewable energy support systems in place and setting ambitious and binding targets for all countries for participation in renewable energy. The overall target for the European Union for 2020 is for 20% of energy to come from renewable sources. The target for Spain is also 20%. The increases set for the markets that are most relevant to the Company’s operations are significant (see chart).
