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News Release

London

Head of Renewable Energy Capital at Jones Lang LaSalle comments on today’s EU announcement on 2030 renewables targets


London, 23rd January 2014 – Commenting on European Commission’s plans to introduce a new binding 27 per cent EU renewable energy target for 2030, Dane Wilkins, Head of Renewable Energy Capital at Jones Lang LaSalle, said:  “This announcement will further inspire investor confidence in the EU renewables sector and highlights the bloc’s commitment to transition to a low carbon economy. The European Commission’s proposals will provide assurances to long term investors about the EU’s commitment to renewable energy investment and further encourage UK institutional funds to invest in the UK renewable sector.”

 

Dane Wilkins, adds: “ The new target coupled with reforms to the European Emissions Trading Scheme (“ETS”) will create a positive environment against which to invest and will encourage further financial innovation in financing renewable energy projects.  However, despite the UK Government’s opposition to proposals for a binding renewables target it was encouraging to see them calling for a more ambitious decarbonisation target of 50 per cent by 2030 should the international community agree on a new Climate Change treaty in 2015.”
 
 
Dane Wilkins, concluded:  “Looking ahead we will need to keep an eye on how these new energy targets are interpreted and allocated to individual countries. For the UK it brings into sharp focus the need to finalise the terms of the new Contracts for Difference support mechanism to ensure it is capable of delivering enough certainty and visibility of cash flows to investors.”