On 18 May, Denmark hosted leaders from Germany, Belgium, the Netherlands, and President of the European Commission Ursula von der Leyen at the North Sea Summit, event aiming to bring these countries together in making the North Sea Europe's green power plant.
Speaking at the event, President von der Leyen underlined the need to meet two immediate and pressing challenges – the climate change and the Russian invasion on Ukraine – with very concrete action.
She explained what actions the EU was taking, including through the Commission's new REPowerEU plan, to rapidly reduce the dependency on Russian fossil fuels and fast-forward the clean energy transitions.
“We raised the target for the share of renewables by 2030 from 40% to 45%. We are also doubling our domestic hydrogen production target. So we aim to produce, transport and import a total of 20 million tons of renewable hydrogen by 2030. 10 million tons are domestic, 10 million tons will be imported”, she noted.
She said the EU was already channelling a lot of investment into renewable energy projects, EUR 30 billion so far from NextGenerationEU, but stressed that we needed to step up the investments. REPowerEU that will help mobilise up to EUR 300 billion will be essential in achieving that goal.