The European Union’s executive arm is set to bolster renewables and energy savings goals as part of a 195 billion-euro ($205 billion) plan to end its dependency on Russian fossil fuels by 2027. The European Commission will propose raising its clean energy target for 2030 to 45% from the current 40% when it puts forward a package to implement its RePowerEU strategy on May 18, according to people familiar with the matter. It will also boost its energy-efficiency goal, requiring member states to reduce energy consumption by at least 13% from projections made in 2020 versus the current 9%. The EU wants to combine faster deployment of renewables, greater energy savings, diversification of supplies from international partners and new tools to accelerate investment in a bid to replace coal, oil and natural gas from Russia following the country’s invasion of Ukraine. The strategy, which will bolster a Green Deal […]