The new EU alliance for hydroelectricity is born.
Ten of the largest energy companies on the continent today sanctioned their collaboration in the sector with a letter shared with the EU Commissioner for Energy, Kadri Simson.
Enel, Edf, Epd, Engie, Fortum, Iberdrola, Statkraft, Uniper, Vattenfall and Verbund are part of the alliance.
Together they represent a total installed hydroelectric capacity of over 110 GW.
"Hydroelectric energy is an essential pillar of the energy transition - the companies point out -. Further investments are needed if Europe is to be climate neutral by 2050".
In their
manifesto,
the
ten majors
highlight that "hydroelectric plants provide affordable, dispatchable and safe renewable electricity".
"Hydroelectric energy facilitates the integration into the system of large quantities of renewable energy from intermittent sources, providing flexibility to the system, including storage", explain the companies, highlighting that "these two functions make hydroelectric energy an essential technology for the EU's climate and energy ambitions" and that "in the future, refurbished, repowered and new hydroelectric plants, as well as pumped-storage hydroelectricity,
To support the sector and consequently also the entire European green industry and the security of supply, the companies are asking the EU top management to "create an adequate, reliable and sustainable economic, political and legal framework for investments", also presenting " a "common" hydroelectric strategy "in line with the other strategies on renewables already published" and including hydroelectricity "in the list of strategic technologies" in the Net-Zero business plan in the context of the Green Deal business plan". Commissioner Simson underlines that "hydroelectric energy is a crucial source for EU renewable electricity" and indicates the willingness to "discuss the challenges and the way forward for the sector".
