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Reuters
a day ago
- Politics
- Reuters
Denmark warns EU against halting green transition
COPENHAGEN, June 27 (Reuters) - European nations should not halt the continent's green transition, Denmark's climate minister told Reuters, as his country prepares to lead EU negotiations on a new climate target amid a backlash from some governments concerned about its cost. The European Commission plans to propose a new 2040 climate target next week to slash EU emissions by 90% compared with 1990 levels, but faces pushback from countries including Poland and France which are worried that this aim is too high. Lars Aagaard, energy and climate minister for Denmark, said in an interview that short-term challenges - including budgets stretched by increased military spending - must not distract from Europe's need to switch to green energy. "The answer to Europe's competitiveness is that we transition to using electricity for more things. It's that we can produce it ourselves. We can do that with renewable energy. We can do it with nuclear power," Aagaard said. "It's not a solution for the climate, nor the security challenge, to halt the (green) transition in Europe," he added. Denmark takes over the EU's six-month rotating presidency in July and will lead negotiations on the 2040 goal, at a time when Europe is sharply raising defence spending following Russia's full-scale invasion of Ukraine. The EU's green transition and its race to re-arm are taking place against a "grim background," Aagaard said, citing geopolitical tensions. "It's not a celebration that Europe has to rearm militarily. It's because we are threatened. And it's not a celebration that we have to go green. Climate change is also serious," he said. The European Union has rolled back a series of green policies this year, trying to contain reactions from member countries and struggling industries over environmental rules. The 2040 goal will aim to keep EU countries on track between their 2030 emissions target and a 2050 net zero goal.
Yahoo
11-06-2025
- Business
- Yahoo
Officials reconsider energy policy put in place more than 40 years ago: 'It's ridiculous to exclude'
Denmark is taking a fresh look at nuclear power after 40 years of saying no, marking a huge shift for this renewable energy leader, the Guardian reported. The Danish government plans to study the benefits of new small nuclear reactors despite already generating over 80% of its electricity from wind, solar, and other renewables. "We can see that there is development under way with new nuclear power technologies — small, modular reactors," said Lars Aagaard, Denmark's energy and climate minister. This move comes as many European countries show renewed interest in nuclear energy alongside their existing renewable projects. Small modular reactors offer key advantages over traditional nuclear plants. Their compact designs allow them to be built in factories and assembled on-site, which may lower costs and shorten construction times. The timing aligns with increasing demand for round-the-clock clean electricity. As countries work to decarbonize transportation, heating, and industry, they need reliable power sources that work when the sun isn't shining or wind isn't blowing. Even tech giants such as Google are looking at small modular reactors to power their energy-hungry data centers with consistent, carbon-free electricity. Denmark isn't alone in this nuclear rethinking. Spain might delay shutting down its seven nuclear reactors after a massive power outage, while Germany faces pressure to reconsider its 2022 nuclear ban following Russian gas supply cuts. You can take advantage of clean energy innovations by installing solar panels, which can bring your home energy costs down to nearly zero. EnergySage provides a free service that makes it easy to compare quotes from vetted local installers and save up to $10,000 on a solar installation. "Wind and solar are good as long as you have wind and sunshine. But you have to have a non-fossil base-load and it's ridiculous to exclude nuclear power in advance," said Anders Fogh Rasmussen, a former prime minister of Denmark. "My guess is that this is a process towards lifting the ban." Should the government be allowed to restrict how much water we use? Definitely Only during major droughts No way I'm not sure Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
CNBC
27-05-2025
- Business
- CNBC
Why Europe is pivoting back to nuclear — one of its most divisive energy sources
A European-wide shift to nuclear power appears to be gathering momentum as countries hedge their bets in pursuit of more energy independence. In just the last few weeks, Denmark announced plans to reconsider a 40-year ban on nuclear power as part of a major policy shift, Spain reportedly signaled an openness to review a shutdown of its nuclear plants and Germany dropped its long-held opposition to atomic power. The renewed European interest in nuclear shows how some countries are hedging their bets in pursuit of more energy independence. The burgeoning trend appears to be driven, at least in part, by some of the costs associated with renewables, notably solar and wind technologies. "Solar and wind are still the cheapest and fastest way to drive the green transition, and that remains our focus. But we also need to understand whether new nuclear technologies can play a supporting role," Lars Aagaard, Denmark's minister for climate, energy and utilities, told CNBC via email. The renewables-heavy Scandinavian country said in mid-May that it plans to analyze the potential benefits and risks of new advanced nuclear technologies, such as small modular reactors, to complement solar and wind technologies. Denmark's government, which banned the use of atomic energy in 1985, added that it does not plan a return to traditional nuclear power plants. "We have no recent experience with nuclear power, and we lack the necessary knowledge regarding safety and waste management. That's why we must begin a serious analysis — not to replace solar and wind, but to see whether new nuclear can complement our energy system in the future," Aagaard said. Georg Zachmann, senior fellow at Bruegel, a Brussels-based think tank, said nuclear power remains the most divisive electricity generation technology in Europe. "Thereby, the renaissance of nuclear in the political discourse is somewhat surprising, given that the cost of main competing technologies, new wind and solar plants, have dropped by more than 80 percent, while those of nuclear plants have rather increased," Zachmann said. The so-called "hidden cost" of balancing and transporting electricity from renewables has been increasing with rising shares of wind and solar generation, Zachmann said, noting that this theme has recently become more apparent. Spain signaled its openness to atomic energy late last month. In an interview reported by Bloomberg, Spanish Environmental Transition Minister Sara Aagesen said that while the government is proceeding with plans to retire nuclear energy reactors over the next decade, extensions beyond 2035 could not be ruled out. Aagsen said at the time that the government was not considering anything, and no specific proposals had yet been tabled. Widely regarded as anti-nuclear power, the southern European country has been mired in a blackout blame game over green energy in recent weeks. It follows a catastrophic power outage affecting much of Spain, Portugal and the south of France. Some external observers have flagged renewables and net-zero emissions targets as possible reasons for the outage, particularly given Spain and Portugal both rely on high levels of wind and solar for their electricity grid. Spanish Prime Minister Pedro Sanchez and the country's grid operator Red Electrica de Espana (REE), however, have both said record levels of renewable energy were not at fault for the blackout. Germany, which closed the last of its three remaining nuclear plants in 2023, recently scrapped its opposition to nuclear power in what marked a rapprochement with France. Led by Chancellor Friedrich Merz, the newly elected government was said to have dropped its objection to French efforts to ensure that nuclear power is treated on a par with renewables in EU legislation, the Financial Times reported on May 19, citing French and German officials. Spokespeople for France and Germany's respective governments were not immediately available to comment when contacted by CNBC. As it is low-carbon, advocates argue that nuclear power has the potential to play a significant role in helping countries generate electricity while slashing emissions and reducing their reliance on fossil fuels. Some environmental groups, however, say the nuclear industry is an expensive and harmful distraction to cheaper and cleaner alternatives. Bruegel's Zachmann said the ability of fully depreciated nuclear power plants to continue operating much beyond their lifetime, as well as the "highly uncertain" hope that next-generation small modular reactors "can be built very cheaply captures the imagination of industry and policymakers." In all likelihood, Zachmann said "new nuclear power plants will remain difficult to finance and will at very best only pay off in decades. In the meantime, the discussion whether to prefer nuclear or renewables only helps natural gas — that continues to be burnt as long as investments in clean electricity do not happen at scale." Data published by energy think tank Ember found that the EU's electricity system continued a rapid shift toward renewables in the first half of last year. Indeed, wind and solar power rose to record highs over the six-month period, reaching a share of 30% of the bloc's electricity generation and overtaking fossil fuels for the first time. Alongside renewables growth, Ember said at the time that nuclear generation across the EU increased by 3.1%.
Yahoo
19-05-2025
- Business
- Yahoo
Denmark plans offshore wind tender with up to $8.3 billion subsidy
COPENHAGEN (Reuters) -Denmark will launch an offshore wind tender with a capacity of three gigawatt (GW), enough to power three million homes, its energy ministry said on Monday, offering subsidies to developers of up to 55.2 billion Danish crowns ($8.32 billion). The offshore wind industry has grappled with skyrocketing costs, higher interest rates and supply chain bottlenecks, prompting governments to halt or postpone tenders due to a lack of interest from bidders. "We need more secure green power and energy to make Denmark and Europe independent of energy from Russia," Energy Minister Lars Aagaard said in a statement. The bids offered in the tender will determine the level of subsidy needed, with a cap set at 55.2 billion crowns over 20 years. "It is the bid price and the development of electricity prices that determine whether it will be necessary to support the projects, or whether money will come to the state," the ministry said. Denmark in January announced it would halt all ongoing offshore wind tenders to revamp its model, saying that a framework where no subsidies were offered did not work under existing market conditions. A month earlier, the Nordic country had failed to attract any bids in its biggest offshore wind tender yet, with analysts pointing to a rigid auction model and a failure to adapt to a changed economic reality for renewable energy projects. Denmark has been a pioneer in both onshore and offshore wind, and is home to turbine maker Vestas and the world's largest offshore wind developer Orsted. ($1 = 6.6318 Danish crowns) Sign in to access your portfolio
Reuters
19-05-2025
- Business
- Reuters
Denmark plans offshore wind tender with up to $8.3 bln subsidy
COPENHAGEN, May 19 (Reuters) - Denmark will launch an offshore wind tender with a capacity of three gigawatt (GW), enough to power three million homes, its energy ministry said on Monday, offering subsidies to developers of up to 55.2 billion Danish crowns ($8.32 billion). The offshore wind industry has grappled with skyrocketing costs, higher interest rates and supply chain bottlenecks, prompting governments to halt or postpone tenders due to a lack of interest from bidders. "We need more secure green power and energy to make Denmark and Europe independent of energy from Russia," Energy Minister Lars Aagaard said in a statement. The bids offered in the tender will determine the level of subsidy needed, with a cap set at 55.2 billion crowns over 20 years. "It is the bid price and the development of electricity prices that determine whether it will be necessary to support the projects, or whether money will come to the state," the ministry said. Denmark in January announced it would halt all ongoing offshore wind tenders to revamp its model, saying that a framework where no subsidies were offered did not work under existing market conditions. A month earlier, the Nordic country had failed to attract any bids in its biggest offshore wind tender yet, with analysts pointing to a rigid auction model and a failure to adapt to a changed economic reality for renewable energy projects. Denmark has been a pioneer in both onshore and offshore wind, and is home to turbine maker Vestas ( opens new tab and the world's largest offshore wind developer Orsted ( opens new tab. ($1 = 6.6318 Danish crowns)
