EU readies 195 billion euro plan to quit Russian fossil fuels

　　div classBodysc17zpet90 cdBBJodivpBy Kate Abnettp

　　pBRUSSELS Reuters – The European Commission plans to unveil a 195 billion euro plan to stop importing Russian fossil fuels by 2027, combining a faster rollout of renewable energy and energy savings with a switch to alternative gas supplies, draft documents show.pdivdivdiv classBodysc17zpet90 cdBBJodiv

　　pThe draft measures, which could change before they are due to be published next week, include a mix of EU laws, nonbinding schemes, and recommendations national governments could take up, including by revising their plans to spend the EUs huge COVID19 recovery fund to free up more funding for the energy transition.p

　　pThe Commission expects the measures to require 195 billion euros in investments, on top of those already needed to meet the bloc‘s 2030 climate target, which would help slash Europe’s bill for fossil fuel imports.p

　　pTo spearhead the plans, Brussels is considering proposing higher targets for renewable energy and energy efficiency, according to the draft proposals and EU officials.p

　　pGoals under discussion include a target for a 45 share of renewable energy by 2030, replacing the current 40 proposal, and a 13 cut in EUwide energy consumption by 2030 compared with expected use, replacing the Commissions current 9 proposal. p

　　pAmong other proposals would be tweaks to EU law to fasttrack permitting deadlines for some renewable energy projects, and new EU schemes to jumpstart a largescale rollout of solar energy and rebuild Europes solar manufacturing industry.p

　　pBrussels will also outline plans to produce 10 million tonnes of renewable hydrogen by 2030 and import another 10 million tonnes, supported by legislation defining which types of hydrogen can count as renewable.p

　　pThe EU will also outline the potential to increase imports of liquefied natural gas from countries including Egypt, Israel and Nigeria, plus the infrastructure needed to replace Russian gas imports – which a draft document said should be designed to ensure it does not lock in decades of emissions that could undermine climate change goals.p

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　　pp Reporting by Kate Abnett Editing by Kirsten Donovanp

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