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EU £250bn investment plans to benefit renewables

European Commission president Jean-Claude Juncker has announced a £250bn investment plan to drive new infrastructure projects across Europe, including renewable energy and power network upgrades.

Mr Juncker said the European Fund for Strategic Investments will “breathe new life” into Europe.

Commenting on the plan, European Heat Pump Association secretary general Thomas Nowak said: “We share the Commission’s vision to allocate part of the money from the [fund] to energy-efficiency - especially in public buildings - and to the development of renewables.

“We hope the plan will, in particular, trigger investments towards the use of cleaner technologies for heating and cooling in Europe. We were also glad to hear the proposal to focus on viable projects that can be swiftly implemented and improve the investment environment in Europe.

“For the moment, we don’t know which part will be dedicated to energy projects. We hope that the joint European Commission-EIB task force to be set up - and the member states - will show appropriate consideration to the heating and cooling sector and its high potential in meeting the fundamental objectives this investment plan aims to fulfil.”

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