The European Commission has published an investment plan totaling about 300 billion euros, hoping to reduce dependence on Russian fossil fuels through various initiatives over the next few years and seize the opportunity to accelerate the transition to clean energy.
Currently, the EU imports about 40% of natural gas, 30% of oil and almost 20% of coal from Russia. The EU planned to invest up to 300 billion euros by 2030 to phase out Russian fossil fuels and speed up the energy transition.
In addition, the European Commission wanted to shorten the approval process for renewable energy projects, make solar roofs mandatory for new buildings, and import more hydrogen energy. The plan also includes investments in infrastructure such as electricity grids, gas and oil pipelines.
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EU plans to invest 300 billion euros to reduce dependence on Russian energy
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