Europe’s power sector needs huge investment boost

By Andreas Walstad 28 February 2017
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Orense wind farm. Significant investment is needed in the European renewable power sector (Iberdrola) Orense wind farm. Significant investment is needed in the European renewable power sector (Iberdrola)

Europe’s power sector needs annual investment of between €95 billion and €145 billion ($101-154 billion) from 2021-2050 to reach its climate goals and ensure security of supply in the longer term, according to a study commissioned by the European Parliament’s Committee on Industry, Research and Energy (ITRE).

The figure includes investments in power generation – mostly renewables – worth €54-80 billion per year compared with current levels of €50-60 billion. Electricity transmission and distribution grids would require €40-62 billion per year compared with €35 billion currently.

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