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EU hikes ambitious renewable energy targets

Published

2 years ago

September 13, 2023

European Union lawmakers achieved a significant milestone by giving their final approval to legally binding targets aimed at accelerating the expansion of renewable energy sources within this decade.

This move is a pivotal component of Europe’s overarching strategy to combat climate change and transition away from fossil fuels.

The newly approved legislation marks a substantial increase in the EU’s renewable energy objectives, mandating that 42.5% of the EU’s energy must be sourced from renewables by 2030. This replaces the previous target of 32% for the same year.

Negotiations on this legislation faced considerable challenges during discussions among EU member states’ governments. Ultimately, it secured support when France advocated for allowances for nuclear energy, which, while low-carbon, does not fall under the renewable energy category.

Resounding victory

The European Parliament’s vote resulted in a resounding victory for the law, with 470 lawmakers voting in favor, 120 against, and 40 abstentions. The final bill will now require approval from EU member countries before it becomes enforceable.

Markus Pieper, the EU Parliament’s chief negotiator for the law, emphasized that this legislation would expedite the approval of new renewable projects and stimulate innovation in new technologies. He expressed anticipation for pilot projects involving floating solar cells, wind kites, run-of-river power plants, and other groundbreaking ventures.

While EU countries and lawmakers had initially reached a renewable energy law agreement in March, it encountered delays due to certain nations seeking greater acknowledgment of nuclear power. An informal endorsement from EU countries came in June following Brussels’ commitment to considering exemptions for specific ammonia plants, allowing them to rely on nuclear-based fuels.

Nuclear sources

France contends that Europe’s green energy transition necessitates the production of hydrogen from both renewable and nuclear sources, and EU legislation should accommodate both options.

These newly ratified targets, which include precise objectives for boosting renewable energy adoption in transportation and industry, are designed to stimulate investments in the massive expansion of wind and solar energy.

Brussels envisions achieving this through increased local manufacturing, as the majority of components for European solar installations currently originate from China.

On Monday, Europe’s solar industry alerted the European Commission to plummeting module prices, driven in part by intense competition among Chinese suppliers, which could force European manufacturers into insolvency.

The Commission acknowledged these challenges and expressed its engagement with renewable energy manufacturers to explore potential solutions. Concurrently, the EU is in negotiations regarding a law intended to bolster local manufacturing of green technologies.

News

SpaceX IPO could make Elon Musk’s Mars dream a trillion-dollar reality

SpaceX’s upcoming IPO could raise $25 billion and value the company over $1 trillion, igniting investor excitement for Mars missions.

Published

22 hours ago

December 12, 2025

Harvey Vargas

SpaceX’s upcoming IPO could raise $25 billion and value the company over $1 trillion, igniting investor excitement for Mars missions.

Investors are buzzing as SpaceX gears up for a potential IPO, aiming to raise more than $25 billion, possibly as soon as June. The offering could value the company at over $1 trillion, fueling Musk’s ambitious plans for Mars and beyond.

Despite the high-risk nature of space ventures, demand from retail investors is expected to be strong. Experts predict this IPO could become historic, with the company’s market value potentially soaring past $2 trillion once it launches.

Musk’s unconventional management style hasn’t slowed investor enthusiasm, even amidst regulatory hurdles. The funds raised could also support groundbreaking innovations, including energy-efficient space data centers.

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#SpaceX #ElonMusk #IPO #MarsMission #Investing #StockMarket #TrillionDollar #SpaceTech

News

Russia shoots down 280+ Ukrainian drones as Zelenskyy pushes new peace plan

Russia claims 280 Ukrainian drones shot down; Zelenskyy finalizes a new peace proposal amid rising tensions and military clashes.

Published

22 hours ago

December 12, 2025

Harvey Vargas

Russia claims 280 Ukrainian drones shot down; Zelenskyy finalizes a new peace proposal amid rising tensions and military clashes.

Russia’s Defence Ministry claims it has shot down over 280 Ukrainian drones, with 40 intercepted near Moscow, some targeting the city directly. Emergency services responded to debris, and temporary flight restrictions were enforced at Moscow’s airports amid the attacks.

Meanwhile, President Zelenskyy revealed his team is finalizing a revised 20-point peace proposal, introducing new ideas on territorial control. Ukrainian and American officials are set to consult online, focusing on security guarantees rather than the detailed points of the plan.

As tensions rise, both military clashes and diplomatic efforts continue to shape the future of the conflict. Keep up with the latest updates and expert analysis on these unfolding events.

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#UkraineConflict #RussiaUkraine #Zelenskyy #DroneAttack #PeacePlan #Moscow #WorldNews #TickerUpdates

News

Disney invests $1B in OpenAI to generate Marvel, Star Wars, and Pixar videos

Disney invests $1 billion in OpenAI for AI-generated videos featuring iconic characters, enhancing fan interactions and launching in 2026.

Published

22 hours ago

December 12, 2025

Harvey Vargas

Disney invests $1 billion in OpenAI for AI-generated videos featuring iconic characters, enhancing fan interactions and launching in 2026.

Disney is taking AI to the next level, investing $1 billion in OpenAI to create a licensing deal that allows users to generate videos featuring more than 200 characters from Disney, Marvel, Star Wars, and Pixar. This partnership could redefine how fans interact with their favorite characters.

The deal will let users stream short AI-generated videos directly on Disney+, and ChatGPT will also produce images of Disney’s licensed characters. However, the agreement excludes talent likenesses or voices, keeping human performances separate.

Set to launch in 2026, the collaboration also gives Disney warrants to purchase additional OpenAI equity and use AI tools for product development, opening doors to new creative opportunities.

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