Spain gets Germany’s support to build a gigantic factory for the production of solar panels. The European Commission commits massively to renewable energy and invests €1 billion when this Spanish-German initiative is supported by the EU.
The initiative came about after a collaboration of several German and Spanish parties, including the Ministry of Ecological Transition in Spain, and after representatives from several countries came together within the IPCEI project. This is an integrated European project consisting of several national projects by companies from various EU Member States. All of which are contributing to strategic European goals.
Europe less dependent on China
In January 2022, this initiative came forward with the aim of rebuilding the European solar energy sector. Therefore, becoming less dependent on the production of solar panels from China. Currently, almost all solar panels come from that country. Therefore, this week, a decision will be made in Brussels on the future of solar energy development in Europe. And, moreover, what investments the EU will make in this area.
The European Solar Manufacturing Council (ESMC) is determined that Europe will regain its position in the manufacture of solar panels and all accessories. To achieve this, the ESMC has ensured that more than fifty European production companies are working together. Subsequently, they will restart the production of solar panels in Europe on a large scale.
Production of solar panels Europe lags far behind
The Spanish news site Eleconomista.es wrote on Tuesday that Europe has a deficit of more than €7.88 billion every year for the purchase of solar panels outside the European continent. Currently, Europe is able to produce only 0.4% of global production in solar cells and 4% of solar panels.
Renewable energy on the agenda of the European Commission
In mid-2021, the European Commission has included renewable energy as one of the core targets for the industrial sector. Carbons should be banned from industry as much as possible. In this context, the Spanish-German initiative has asked the EC for financial support to develop a strategy and attract companies and then shape the chosen strategy after the green light from the EC.
Ambitious goals after the invasion of Ukraine
Although the search for renewable energy has already been planned by the European Commission, the Russian invasion of Ukraine has accelerated these plans. Currently, the current installed solar power in Europe is 164.9 GW. After the Russian invasion of Ukraine, the EC aims to have a capacity of 585 GW by 2030.
