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The EU has embarked upon a fundamental change in direction of its energy policy, with the agreement by the European Council of the "20-20-20" targets - 20% renewable energy in the EU's energy mix, 20% reduction in greenhouse gases, and a 20% improvement in its energy eciency, all by 2020.
The new legislative framework presently beingfinalised to put this in practice will have profound effects on all those active in the energy industry. Achieving a 20% share of renewables in the EU's energy mix will require massive investments; an increase by roughly 10 times the level of wind and solar energy presently installed in Europe today in a period of just 12 years. It will also require enormous investments in biofuels.
This creates huge challenges and opportunities for EU business. A full understanding of the different support schemes, obligations on companies and planning requirements, at both EU and national level, is vital for both industry and its advisors, in all sectors of the energy industry.