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EU to spend blns of euro on energy innovation

Xinhua, December 2, 2016 Adjust font size:

European Commissioner for Research, Science and Innovation Carlos Moedas announced here on Thursday that the European Union (EU) will spend as much as 2 billion euros (2.12 billion U.S. dollars) on energy innovation.

"We've agreed that the 2 billion euro will be directed into four key areas, including decarbonization of buildings, better integration of renewable energy sources into the energy mix, electric mobility and the storing of electric energy," Moedas made the announcement at an international conference entitled "SET Plan-Central European Energy Conference" (CEEC).

The commissioner noted that while the sector of fossil fuels is being subsidised by 100 billion euros (106 billion U.S. dollars) a year in Europe, research and innovation in energy receives only a minute fraction of this amount.

"If we want to change this situation, we have to move away from this trend," added Moedas. Endit