(Finance) – The European Commission, together with industrial players, research institutes and associations, has launched the European Solar PV Industry Alliance. “The alliance – reads a note – will help mitigate the procurement risk ensuring diversification of supplies through more diversified imports and increasing the production of innovative and sustainable solar PV in the EU”.
“The rise of capacity productive will be crucial for the EU to achieve its goals REPowerEU more than 320 GW of new installed solar PV capacity by 2025 and nearly 600 GW by 2030. The new Alliance approved the goal to achieve 30GW of European production capacity by 2025, along the entire value chain. Achieving this goal would yield 60 billion euros new GDP per year in Europe and the creation of over 400,000 new jobs”.
The Alliance will also offer policy inputs to reduce Europe’s supply risk and support domestic industry. In particular, it will focus its work on securing investment opportunities for European solar PV by mapping investment opportunities and building bankable project pipelines. It also aims to attract investments private ??to develop and commercialize innovative and competitive photovoltaic products made in Europe.
The initiative also expects to build an enabling environment for European solar PV by addressing obstacles such as the need for procedures authorization simplify for new production sites or ensuring the supply of raw materials and components needed in production. The Alliance will also support the sustainability and the circularity throughout the value chain, it will identify key innovations, including through EU-funded research, as well as work to address labor and skills shortages in the sector.