The European Union needs to invest EUR200 billion in the next 10 years to renew, extend and build new natural gas and energy grids in a bid to meet its environmental goals and support economic growth, the EU's energy chief said.

Infrastructure has become a top priority for the commission, the EU's executive body, which sees it as a way of creating a competitive single market for energy in the 27-country EU, increasing energy security and helping efforts to meet climate change goals.

The commission wants to ensure new power generation from renewable sources--such as North Sea wind--is fully integrated in the broader EU network. It also wants to strengthen regional electricity and gas networks so no country is dependent on too-few supply sources.

Full story....

Posted by mopeng at November 17, 2010 1:04 PM