EU deal to nearly double renewable energy by 2030

Representative image. Credit: iStock Photo

The European Union Parliament and EU states reached a deal on Thursday to almost double the share of renewables in the 27-nation bloc's overall energy consumption by 2030.

The provisional political agreement seeks to raise the share of renewable energy to 42.5 percent, from 22 percent today, according to a Council of the EU statement, which represents the bloc's governments.

The EU has set an ambitious target to become a "climate neutral" economy by 2050, with net-zero greenhouse gas emissions.

The move also comes as the EU has sought to slash its dependence on Russian fossil fuels after Moscow cut gas supplies last year and the bloc placed bans on seaborne crude and other petroleum products from the country.