The agreement also includes a review clause by 2023 for an upward revision of the EU level target. The new target can be seen as a compromise between the 35% target proposed by the Parliament and the 27% target proposed by the Council.
The new target is part of a broader Renewable Energy Directive which is said to improve the design and stability of support schemes for renewables, and deliver real streamlining and reduction of administrative procedures.
Following this political agreement, the text of the Directive will have to be formally approved by the European Parliament and the Council.
Once endorsed by both co-legislators in the coming months, the updated Directive will be published in the Official Journal of the Union and will enter into force 20 days after publication.
The EU Member States will have to transpose the new elements of the Directive into national law 18 months after its entry into force.
Commissioner for Climate Action and Energy Miguel Arias Cañete said: “Renewables are good for Europe, and today, Europe is good at renewables. This deal is a hard-won victory in our efforts to unlock the true potential of Europe’s clean energy transition. This new ambition will help us meet our Paris Agreement goals and will translate into more jobs, lower energy bills for consumers and less energy imports. I am particularly pleased with the new European target of 32%. The binding nature of the target will also provide additional certainty to the investors. I now call on the European Parliament and the Council to continue negotiating with the same commitment and complete the rest of the proposals of the Clean Energy for All Europeans Package. This will put us on the right path towards the Long-Term Strategy that the Commission intends to present by the end of this year“.