ADVERTISEMENT

Poland to receive EUR 50 bln for energy transition under new EU deal

Green Energy

Image by Pixabay

Poland will receive up to PLN 230 billion (EUR 50 billion) for the transformation of its energy sector under a new agreement on climate targets struck by European Union member states, according to a report y Polish Radio's IAR News Agency.

Prime Minister Mateusz Morawiecki said that his country's negotiation goals had been achieved. Under the deal, Poland will obtain additional funds from Brussels to mitigate the costs of moving to greener energy, he said.

Following a two-day summit in Brussels, including talks through the night, EU leaders reached a long-awaited agreement on tougher targets for curbing emissions. The 27 member states pledged to cut greenhouse gas emissions by at least 55% by the end of the decade compared with 1990 levels, a measure in line with the bloc's earlier commitment to achieve climate neutrality by 2050.

Initially, the plan met with strong opposition from coal-reliant central European countries, including Poland. Warsaw, however, agreed to make concessions in return for extra funds. Following the summit, Morawiecki said the agreement took into account the country's economic system and market conditions in its energy sector.

ADVERTISEMENT

BorgWarner, Jabil to invest in Hungarian operations Automotive

BorgWarner, Jabil to invest in Hungarian operations

Industry out of Deep Water, but Investments Still Lag Analysis

Industry out of Deep Water, but Investments Still Lag

Hungary urges EU support for hard-hit hog farmers EU

Hungary urges EU support for hard-hit hog farmers

Dutcham to hold webinar on real estate investments during COVID Conferences

Dutcham to hold webinar on real estate investments during COVID

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.