€1.8trn needed to upgrade power sector by 2030

Europe will need to invest €1.8trn in power generation capacity between now and 2030 to be on a path to meet its decarbonisation goal for 2050, according to new estimates released by the European Climate Foundation (ECF) on Monday.

This represents a €1.1trn investment for the period 2020-30, including just over €1trn for new capacity, €57bn for back-up power and €68bn for grid upgrades. This is nearly double the European Commission's investment forecast for this decade.

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