The Directive requires EU governments to increase the amount of renewable energy from the current level of 8.5% to 20% by 2020. This target applies to total energy used in the electricity, heat and transport sectors. The Directive also requires that a minimum of 10% of transport energy must come from renewable sources.
Individual member states are free to decide upon the most suitable mix of renewable energy sources to be used to meet their respective targets.
The Directive is relevant to the EEA agreement and will therefore also include Switzerland and Norway.
Each member state must submit a national action plan by 2010 describing how they will achieve the 2020 targets. The action plans should also include a description of how to use the three flexible mechanisms.
The three flexible mechanisms introduced will open up new possibilities for cross-border co-operation to develop new renewable energy projects and reach the national targets in a more cost-effective way. Cooperation can be organised in one of the following ways:
Nvalue supports partners and clients with deal structuring under the cooperation mechanisms based at the international level.
We provide an extensive market presence and first hand institutional relations in order to make statistical transfer possible in the renewable target compliance market.