With a €300 million investment planned, the so-called Francisco Pizzarro plant will supply energy to 375,000 people every year and employ up to 1000 people in the process of construction, the company said.
The European Investment Bank is the world’s largest multilateral lender and it keeps funding fossil fuels. Next week EU finance ministers can change that.
Climate-sceptic far right parties are surging in polls ahead of European Parliament elections 23-26 May, while on the streets, activists are demanding emergency measures to prevent climate chaos.
A European sustainability pact, massive investments and the EU’s full regulatory power will be needed to address the climate crisis, writes Michel Barnier.
The European Commission, backed by 11 EU member states, refused to sign a declaration on “sustainable and smart gas infrastructure” tabled by the Romanian Presidency earlier this week because the text wasn’t ambitious enough on climate change, Euractiv has learned.
The European Union’s southeastern neighbours pay around €2.4bn ($2.72bn) a year in subsidies for coal-fired power – contradicting the EU rules they’re supposed to follow, according to findings published on Monday.
