At the Global Renewables Summit, European Commission President Ursula von der Leyen addressed government and industry leaders on the global shift towards renewable energy. Von der Leyen highlighted that in 2024, global investments in clean energy reached nearly EUR 2 trillion, with more than double the spending on renewables compared to fossil fuels. She noted that “90% of new renewable projects generate power more cheaply than fossil fuels” and that solar is now “41% cheaper than the lowest-cost fossil alternative.”
Von der Leyen described Europe’s transformation since the start of the war in Ukraine, when a significant portion of its gas, oil, and coal supply came from Russia. She said: “Eight weeks into the war… we faced a severe energy crisis. Now, Russia wanted to put pressure on us that we do not support Ukraine. You know the opposite happened. We are staunch supporters of Ukraine.” In response to this crisis, she explained that Europe increased investment in renewable energy for both climate and security reasons: “Today, almost half of Europe’s power comes from renewables. Solar and wind are our fastest-growing sources.”
She also pointed out ongoing efforts to strengthen Europe’s electricity grids and support industry innovation through initiatives like the Clean Industrial Deal, which mobilizes over EUR 100 billion.
The president emphasized international cooperation as essential for a successful transition: “Greater independence does not mean isolation. Across continents, new connections are being built.” Projects such as the ELMED interconnector between Italy and Tunisia aim to link Europe directly with Africa’s renewable resources. Through initiatives like Global Gateway—which seeks to mobilize EUR 300 billion by 2027—Europe is partnering globally to promote sustainable infrastructure.
Von der Leyen cited examples including hydrogen technology deployment in the Caribbean and investments worth EUR 3.4 billion in Kenya for climate projects supporting clean power goals by 2030.
She stressed continued collaboration at forums like the Global Energy Transition forum: “We have promised on a global stage that we want to triple renewable energy by 2030, and we want to double the energy efficiency.” The forum aims to maintain political momentum and monitor progress toward these commitments.
Addressing industry leaders directly, von der Leyen asked: “Tell us what you need… what guarantees, risk-sharing tools or regulatory conducive environment… would allow you to invest at scale where it matters most? And what must governments do to help you deliver?” She called for mutual commitment between public authorities and private investors so that benefits from renewables become truly global.
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