Mavros (PPC Renewables) at COP29: Strengthening competitiveness in Europe goes through the energy transition and climate diplomacy

Mavros (PPC Renewables) at COP29: Strengthening competitiveness in Europe goes through the energy transition and climate diplomacy

Conversing on the panel “The future of energy: renewables and low-carbon technologies” with important representatives of the energy community, including the Director General of DG Energy of the EU, Mrs. Ditte Juul Jørgensen, the Minister of Energy of Moldova, Mr. Victor Parlicov, and the general secretary of Eurelectric, Mr. Kristian Ruby, Mr. Mavros highlighted the energy transition and the expansion of climate diplomacy as tools to strengthen the competitiveness of the European economy. As global energy demand is expected to increase in the coming decades, due to data centers, AI, electrification (e-mobility, heat pumps), the fight for the development and expansion of renewable energy sources (RES) will be critical to ensure a sustainable and fair future. World leaders are gathering in Baku for COP29 and the discussion is focused on finding solutions that accelerate the energy transition to a low-zero carbon future, increased energy efficiency and significant penetration of RES in the energy mix.

Europe, noted Mr. Mavros, is at a critical crossroads in its quest to become the first climate-neutral continent by 2050. The EU’s Green Deal, the “Fit for 55” package and its ambitious renewable energy targets are helping to steer the continent towards a clean future. energy. However, significant obstacles remain, in particular with regard to the integration of new generation from RES, the management of aging electricity networks, the assurance of energy security and the implementation of the energy transition in a fair and inclusive framework for all regions and communities. of the EU. “Europe is setting the pace globally for renewables, but we must be mindful of the challenges that come with such an ambitious transformation. As we strive for zero emissions by 2050, Europe needs to invest not only in wind and solar power and energy storage units, but also in infrastructure and technology that will ensure that the energy transition becomes stable, secure and fair,” pointed out Mr. Black.

The Role of Southeast Europe in the Energy Transition

Mr. Mavros particularly emphasized the role of Southeast Europe – a region where PPC Group invests strongly in RES – in the European strategy regarding the transition from carbon. Southeastern Europe has historically depended on coal for energy production, however, increasing investment in renewables has begun to reshape the energy landscape. Greece, in particular, is leading the way, with RES accounting for 57% of its energy mix by the year 2023, marking a historic milestone. “Southeastern Europe plays a pivotal role in Europe’s energy transition. With abundant renewable resources, the region has the potential to drive Europe’s clean energy future. We must, however, ensure that the region’s RES projects are integrated into a modern, flexible energy grid, one that can effectively manage the growing share of RES in interconnected markets.”

Key issues, according to Mr. Black, is the slow rate of modernization of electrical networks and the urgent need for infrastructure investments, with the aim of smooth penetration of the growing share of RES in the energy mix. The EU’s electricity grids, with almost 40% of them over 40 years old, are often unable to cope with increasing generation from RES, leading to cuts in “green” energy and jeopardizing the assurance of reliable energy supply. At the same time, the energy storage systems, which Mr. Mavros characterized as “key,” they are necessary to balance supply and demand, especially when intermittent sources, such as wind and solar, are a significant part of the energy mix. “EU grids are not adequately prepared for the massive scale RES projects they need to integrate,” warned Mr. Black. “We need large-scale investment in grid infrastructure and energy storage solutions to prevent bottlenecks and reduce dependence on fossil fuels. Without these investments, we risk curtailing renewable energy production and losing valuable clean energy. PPC Renewables has already committed and is investing in energy storage, a choice of strategic importance that will contribute to the stabilization of the grid,” he said.

PPC Renewables is the main arm of the PPC Group for the development of RES projects, aiming to play a dominant role and become a “catalyst” of the energy transition in Greece and in the wider region of Southeast Europe. The company, today, is active in all forms of renewable energy and energy storage through batteries and the expansion of its portfolio in RES projects is carried out through organic growth, strategic partnerships and acquisitions. Already, PPC Renewables has managed in a few years to strengthen its RES portfolio from almost zero in 2019 to 1.5 GW projects in operation today, of which 0.8 GW in Greece and 0.7 GW in Romania . At the same time, the construction of new RES projects with a capacity of approximately 3.3 GW in the wider area of ​​SE Europe has started or will start soon. PPC Renewables is also active in new, innovative technologies such as offshore wind farms, floating photovoltaics, geothermal, etc.. Based on the Group’s current five-year business plan, PPC Renewables aims to form an expanded and diversified portfolio of RES and energy storage projects, which is expected to rise to the levels of 5.5 GW (excluding large hydro) by 2026.

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#Mavros #PPC #Renewables #COP29 #Strengthening #competitiveness #Europe #energy #transition #climate #diplomacy
It seems that you’ve shared a snippet‌ of JavaScript code that appears to handle asynchronous loading⁤ of various scripts for ad services and tracking tools on a webpage. However, the ‌code appears incomplete and contains placeholders for URLs and script sources. Here’s a brief overview of​ the sections present in the code:

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