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    EU Green Gas And Nuclear Investment Rules Final Vote Is Near

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    South Korea To Grow Nuclear Energy Share Mix To 30% By 2030

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    Germany Prepares for Hybrid War as Russia Cuts Gas to Europe

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    India Experiences A Boom In Investment In Renewable Energy

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    Why Ukraine Might Lead Transition To Green Energy In Asia

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

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    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

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    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

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    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

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    SeaMade secures €250m European loan for Belgian offshore wind farms

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    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

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    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

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    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

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    GE’s digital power transformers selected for multiple projects across the globe

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    Testing To Be Performed On The First Hydrogen-Powered CTV

    Testing To Be Performed On The First Hydrogen-Powered CTV

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    In Green Hydrogen, Germany Aims To Invest EUR 3.6 Billion

    EU Green Gas And Nuclear Investment Rules Final Vote Is Near

    EU Green Gas And Nuclear Investment Rules Final Vote Is Near

    South Korea To Grow Nuclear Energy Share Mix To 30% By 2030

    South Korea To Grow Nuclear Energy Share Mix To 30% By 2030

    Germany Prepares for Hybrid War as Russia Cuts Gas to Europe

    Germany Prepares for Hybrid War as Russia Cuts Gas to Europe

    EIB to finance new medium-size onshore wind farm in Poland

    Offshore Wind Sector Will Have More Than Doubled By 2031

    Argentina reveals its nuclear new build plans

    Nuclear Power To Play Key Role in Securing Energy Shifts

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    India Experiences A Boom In Investment In Renewable Energy

    Why Ukraine Might Lead Transition To Green Energy In Asia

    Why Ukraine Might Lead Transition To Green Energy In Asia

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    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Array Technologies increased revenue 35% to US$872.7 million in 2020

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    Nordex Group: half-year sales rise to EUR 2 billion, earnings impacted by COVID-19

    GE Renewable Energy connects the world's most powerful hydro unit to the grid in Wudongde, China

    GE Renewable Energy connects the world’s most powerful hydro unit to the grid in Wudongde, China

    Ferroglobe Hydro power

    Ferroglobe completes sale of Spanish hydro facilities to TPG Sixth Street Partners

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Intersolar, EES and Power2drive NA Acquired by Diversified Communications

    Summit Energy Services Announces Merger with Schneider Energy Consulting

    SeaMade secures €250m European loan for Belgian offshore wind farms

    SeaMade secures €250m European loan for Belgian offshore wind farms

    Xcel Energy agrees to buy Mankato Energy Center for $650m

    UK renewable energy overtakes fossil fuels, despite Brexit fears

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    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Intersolar Europe 2022: Solar Energy in Germany Takes Center Stage

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    SPI Energy Develops Utility Scale Solar Project in Maryland

    Lightsource BP pioneers UK's first night-time solar service

    Altus Power and Heliene Establish Strategic Partnership to Support U.S. Solar Module Manufacturing

    EDP signs a Build & Transfer Agreement for a 200 MWac solar project in the U.S.

    I&M is Powering the Next Tomorrow with Plans to Add More than 2,000 MW of Solar

    WindEurope Annual Event 2022 in Bilbao - Registrations Open, Conference Programme Available

    WindEurope Annual Event 2022 in Bilbao – Registrations Open, Conference Programme Available

    RWE chooses Chantiers de l'Atlantique as key supplier for its F.E.W Baltic II wind farm - design, construction and installation of the electrical offshore substation

    RWE chooses Chantiers de l’Atlantique as key supplier for its F.E.W Baltic II wind farm – design, construction and installation of the electrical offshore substation

    EGAT deploys Siemens software solutions for the worlds largest Hydro-Floating Solar Hybrid Project

    EGAT deploys Siemens software solutions for the world’s largest Hydro-Floating Solar Hybrid Project

    Protermosolar adds value to the Spanish concentrated solar power industry in China

    Abengoa completes construction of three solar fields at the world’s largest concentrated solar power complex in Dubai

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    GE’s digital power transformers selected for multiple projects across the globe

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EU Green Gas And Nuclear Investment Rules Final Vote Is Near

in News, Nuclear Power
EU Green Gas And Nuclear Investment Rules Final Vote Is Near

On July 6th, European lawmakers will decide whether to accept or reject ideas that have divided governments and investors about the EU’s aim to identify expenditures on gas and nuclear power plants as climate-friendly. The vote is the last barrier before the European Union decides whether to include the 2 energy sources in its taxonomy, a set of guidelines that determines whether investments can be promoted as sustainable in Europe.

The regulations are intended to prevent greenwashing among the countless so-called eco-friendly items on the market and to direct private finance toward truly eco-friendly projects. They also aim to establish a European standard for sustainability practices.

However, the argument over whether investments may be promoted as green has expanded into a larger political dispute over the types of energies Europe should invest in to combat global warming and replace Russian gas. EU parliamentarians will discuss the gas and nuclear regulations, and on July 6th, they will vote in what authorities anticipate to be a close election. To defeat a proposal, a majority of the 705 members of the European Parliament must oppose it.

Bas Eickhout, a green politician, claimed that the EU proposal would give artificial incentives for investment in gas and nuclear energy, both of which are fossil fuels, at the cost of the sustainable energy needed to quickly reduce carbon emissions. Christian Ehler, a politician for the European People’s Party, said that although the taxonomy’s effect on future investment was not yet obvious, its strict CO2 emission caps and other requirements would guarantee that investments in gas plants comply with climate goals.

Rejection would be a setback for the European Commission, which spent more than a year revising the regulations in the face of fervent government and gas and nuclear industry lobbying. As per Brussels, to receive a green designation, gas and nuclear power facilities must adhere to exacting criteria.

Gas plants would need to adhere to much stricter emission restrictions than those in the Commission proposal, according to critics and the Commission’s advisors, in order to match the significant reductions required to avert severe climate change. In an early 2020 plan, the Commission had proposed a lower emissions cap, but changed its mind in response to criticism from several of the bloc’s 27 member states.

Frans Timmermans, the head of the EU’s climate policy, stated that if he had been left to his own devices, he would have chosen differently about the taxonomy but that the regulations represented the political reality within the union.

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