The European Commission is planning 15GW of renewables tenders over a two-year period to help the wind and solar industries bounce back after COVID-19, according to a leaked document.
Brussels will commit up to €25bn for the auctions that will make up for a reduction in tendering at member state level caused by the pandemic, the Commission’s blueprint for a green recovery stated.
The document was obtained and published by Euractiv, and is said to form the backbone of Europe’s promised green recovery plan for reviving the bloc post-coronavirus.
The 7.5GW-per-year tenders would support up to 25% of the market and be backed by the European Investment Bank and EU guarantees.
“It a member state intends to tender a certain amount of capacity in the next two years the EU could match the national tender one on one,” added the leaked document.
The material also shows that the Commission, lead by Ursula von der Leyen (pictured), is planning to back a scaling up of hydrogen as well as launch a €10bn per year green infrastructure fund.
The latter would invest in areas such as transmission interconnectors, smart distribution networks and storage.
The EIB will meanwhile be tasked with supporting projects currently aiming for financial close amid the coronavirus outbreak.
COVID-19 will shrink EU wind and solar market by up to 33% due to supply chain disruptions and project delays, added the blueprint.
Without sustained renewables growth there is no future for hydrogen and without a stimulus the energy transition will slow down, the document stated.
“A green recovery package should ensure acceleration of renewable energy projects.”