Europe invests $6 billion in energy storage

Will Europe be able to carry out strategic long-term planning?

As a result, the need for gas for specific countries, such as Slovakia, which may need 4, 5 or even 20 billion cubic metres, will become completely transparent. Based on this data, Europe will be able to carry out strategic long-term planning, which may also include Ukraine in the energy region.

What is the European Fund for Strategic Investments?

European Fund for Strategic Investments: Support mechanism launched by the EIB and the Commission, as part of the Investment Plan for Europe, to mobilise private investment in projects of strategic importance for the EU.

How much money will the EU spend on batteries by 2031?

By 2031, the Commission expects these projects to generate total investments worth €14 billion. Technological and Innovation Platform on Batteries (2018), which, among others, developed a new technological roadmap for European R&I work on batteries. 38 Proposal for a regulation concerning batteries and waste batteries, COM(2020) 798.

Why does the EU have a shortage of end-of-life batteries?

This is due to the combined effects of an increase in global demand, driven mostly by the electrification of road transport; and limitations in the EU’s domestic supply of raw materials, which is both scarce and rigid: mining projects have long lead times between exploration and production and recycling of end-of-life batteries is still limited.

Why did the European Commission suspend the Memorandum of strategic partnership in energy?

The Parliament asked the European Commission to suspend the Memorandum of Strategic Partnership in Energy signed with Azerbaijan in 2022. It is important to mention that Azerbaijan simply does not have free gas for transportation. If the deal goes through, Russia will in fact continue to supply gas under the guise of Azerbaijani gas.

How can the EU become a global leader in sustainable battery production & use?

To help the EU become a global leader in sustainable battery production and use, in 2018 the Commission published a strategic action plan on batteries. It covers the different stages of the value chain, identifies a number of strategic goals and proposes a range of tools to achieve them.