June 22, 2024
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Europe needs trillion euros to restore energy facilities

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Head of the EU Delegation in Serbia Vincent Degert said Tuesday that European countries need one trillion euros to restore existing energy facilities and install new technologies by 2020.

This is an ambitious plan, that Europe set for itself in the energy policy through 2020 with the goal of, among other things, reducing harmful gas emissions, Degert said in Kragujevac (central Serbia) at an international conference on energy and sustainable development, jointly organized by the Atlantic Council of Serbia and the city administration.

Stressing that safety and sustainability of energy sources are instrumental in economic and strategic development, Degert noted that Europe is the biggest importer of electric energy.

Assessing that Serbia’s energy sector is significant, Degert reminded that the country invested over USD 550 million in the last ten years, but stressed that in addition to new investments, Serbia needs to pass and implement energy efficiency legislation and policies, as this will attract new investments.

Serbia needs to work on the protection of the energy sector and the EU is willing to help it in this, Degert said.

Head of the state Energy Agency Ljubo Macic said that “Serbia has a pretty good balance in terms of electric energy,” but that consumption is expected to rise and “the country will face great challenges in this regard in the coming years.”

“We import 85 percent of our gas and close to 80 percent of our oil,” Macic said and noted that Serbia’s electric energy consumption is three times that of EU countries.

Source emg.rs


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