Strong support for innovative renewables must continue into next stage of RED III negotiations

16.09.2022

Ocean Energy Europe welcomes the European Parliament’s vote for a dedicated sub-target for innovative renewables in the new EU Renewable Energy Directive (RED III). The next stage of the negotiations with the Council must now lock in this new target and deliver the energy future that Europe deserves. 

Donagh Cagney, Policy Director at Ocean Energy Europe, commented “This target creates a strong ‘market pull’ for innovative technologies, and keeps Europe competitive at a global level. It future-proofs the Directive – securing the renewables innovation needed not only for 2030, but also to hit our 2040 and 2050 targets – all the way to net zero.” 

The sub-target means that by 2030, 5% of all new renewable energy capacity installed in the EU should come from innovative renewable energy sources, including ocean energy. Adopted on Wednesday by an overwhelming cross-party majority, together with the broader 45% renewables target, this is a vital step forward for clean, affordable and ‘homegrown’ energy sources.  

The Parliament’s lead on the new Directive, Markus Pieper MEP, said “Only the expansion of renewable energy means true independence.”