A world of clean energy

Renewable energies come
from the 4 elements of nature. They come from the sun, they come from water, they come from air and the earth. They’re available endlessly, and they don’t make any greenhouse
gases, so in the energy sector they’re our only choice to save
the planet from climate change. EIB has decided to dedicate at least 25% of its financing
to climate action projects. This target is actually 35% by 2020
for projects outside the EU. Once finished,
the Noor Ouarzazate complex will supply 580 megawatts, the equivalent of 2.2 million inhabitants in Morocco. In terms of impact, in 2016 over 4 million households
will be supplied by renewable energy, thanks to the project
the bank is financing, once they become operational. Beneath the ground
we have a geothermal reservoir. So we can drill deep wells and get a mixture of steam and water
to turn into electricity. It’s producing about 10% of all
the electricity produced in Iceland. Besides the positive impact
on climate, in our project we will look also at sustainable development
of the community. For example,
the impact on employment, on the local community, whether they had been consulted. Getting a line of credit
for 15 years, 20 years, 30 years from the European Investment Bank
is a great help since multilateral agencies nudge us to follow high environmental
and social standards. Not all renewable energy resources
are available in all places. However,
most countries have several options and have to choose the one which is more efficient
and more economic. All the technologies will be needed in the path towards decarbonisation.


  1. Except wind and solar generation of electricity does not work, it's a very poor technology.
    The only one that is effective is nuclear to provide stable power with no CO2 emiissions.

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