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EIB and Intesa Sanpaolo launch €8 billion wind sector initiative

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The European Investment Bank (EIB) and Intesa Sanpaolo have launched an initiative to unlock €8 billion in wind sector investments, as part of EIB’s €5 billion wind energy plan unveiled at COP28. Supported by InvestEU, this will support 32 GW of wind capacity toward the EU’s 2030 renewable energy target of 45%. EIB will provide a €500 million counter-guarantee, enabling Intesa Sanpaolo to establish €1 billion in guarantees for wind farm supply chains and grid…

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EU approves additional tariffs on Chinese electric cars amid trade war concerns

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EU countries have approved additional tariffs of up to 35.3% on Chinese-made electric cars, despite opposition from Germany and concerns about triggering a trade war with Beijing. The European Commission found that China’s state subsidies to its auto manufacturers were unfair, leading to the imposition of these tariffs, which will take effect for five years starting in late October. The decision saw 10 member states, including France and Italy, supporting the tariffs, while Germany, Hungary,…

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EU changes hydrogen project auction rules to limit Chinese presence

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The European Union has announced changes to its rules governing hydrogen grant auctions to limit dependence on China for renewable energy components. This move comes as part of the EU’s broader efforts to prevent over-reliance on Beijing, which dominates sectors such as solar power and electric vehicles. The EU Hydrogen Bank’s next renewable hydrogen auction, set for December 3, will offer up to EUR 1.2 billion (USD 1.34 billion) in grants, but new rules will…