The EU’s ambitious plan to reduce its dependency on Russian fossil fuels is going to require at least €1 trillion in investment. In order to achieve the goals they have set out, the EU will require wartime levels of investment, construction, and production. The EU is already working to speed up the permitting process to ensure that new solar and wind projects can be brought online in time. The European Union’s REPowerEU seeks to reduce the European Union’s dependency on Russian fossil fuels and accelerate the transition away from carbon-intensive energy sources. The European Commission’s cost estimate, however, may fall short as Rystad Energy analysis suggests the plan will require at least €1 trillion in investment to meet the core objective of increasing renewable generation from 40% to 45% of total energy supply by 2030. Additional investment will be required to meet targets, including grid and battery storage developments […]