Cleaner Tech
EU Set to Pave Way for 565 Billion Euro Overhaul of Electricity Grid
- Action plan spells out ways to promote use of renewable energy
- Renovating networks will help end reliance on Russian energy
Lines of electricity towers and power cables in Avoine, France.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
The European Union’s executive branch will lay out a plan to digitalize its energy grid as it seeks to spur the roll out of renewables to reduce its dependence on Russian fuel.
The “Digitalizing the Energy System” action plan, to be unveiled by the European Commission next week, will require a 565 billion euro ($556 billion) investment in infrastructure by the end of the decade to achieve its green plans and end reliance on Russia, according to a draft document seen by Bloomberg News.