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Industry data shows EU energy mix is ​​greenest ever

Posted on by darion

“An unprecedented influx of renewable energy has been introduced into the grid.” Source: lunopark.

According to data from an industry organization, this year the vast majority of energy produced in the EU came from CO₂-free sources.

From January to June 2024, almost 75% of EU electricity production came from carbon-free sources, said the industry body representing the interests of the European electricity industry.

Of that total, 50% came from renewable sources such as wind and solar, and 24% from nuclear power, the organization said in a public statement Monday.

The latest data shows a noticeable increase compared to the 68% share recorded in 2023.

The body said the main reasons for this “remarkable result were the unprecedented influx of renewable energy sources into the grid, combined with the stabilization of the nuclear power plant fleet.”

“The pace of change is impressive,” said Eurelectric Secretary General Kristian Ruby.

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He added that the numbers “document that energy companies’ efforts to decarbonize are years ahead of every other sector.”

The EU built 56 GW of new solar capacity in 2023 and 16 GW of new wind capacity across the region.

However, the block’s electricity demand has also dropped, so solar and wind can now more easily provide more energy.

The transition to renewable energy sources may face some financial headwinds over the next few years as investors in the energy sector begin to expect better returns.

Just a week ago, BP CEO Murray Auchincloss initiated a hiring freeze and suspended offshore wind projects as he looks to focus on oil and gas to boost revenue, company sources say.

Auchincloss appears to be buckled by shareholder discontent over the profits available from non-hydrocarbon extraction and the transition to green energy.

A spokesman told the British news provider that BP remains committed to becoming an integrated energy company.