The Clean Energy Package needs to be ambitious for the EU to comply with the objectives of the Paris
Agreement and the Energy Union commitments. The 27% RES target by 2030, as suggested by the
European Commission, falls short of ambition as it would translate into a fivefold market contraction
for renewables between 2020 and 2030, as compared to the previous decade. For renewable energy
sources, keeping up with the pace means a target of at least 35% by 2030.
From an investor perspective, 35% is the bare minimum to keep momentum going in this fast-growing
sector. It will ensure Europe reaps the economic benefits resulting from a clean and efficient energy
system fit for the twenty-first century, while developing the European industry.
It is key to cement the 2020 targets as the non-negotiable baseline for the 2030 framework, and to
provide clear signals for the renewable sector in the form of trajectories that support the EU’s ambition
rather than undermine it. The Clean Energy Package must contain strong provisions to ensure the
2030 objectives are collectively met, preferably through national binding targets or at least robust
and efficient gap filling provisions.