2 Amendments of Peter KOUROUMBASHEV related to 2016/0382(COD)
Amendment 149 #
Proposal for a directive
Recital 12
Recital 12
(12) The Commission should focus the allocation of funds on the reduction of the cost of capital of renewables projects, which has a material impact on the cost of renewable energy projects and on their competitiveness.Renewable energy technologies have generally very low operating costs due to the absence of fuel costs. To enhance their competitiveness, it is therefore important to minimise their capital costs. Due to high perceived country risk and high policy instability and unpredictability, the cost of capital of renewable projects is very high in some European countries. Hence the Commission should focus the allocation of funds on the reduction of the cost of capital of renewables projects, which has a material impact on the cost of renewable energy projects and on their competitiveness. It should consider the use of a voluntary contract mechanism between Member States and creditworthy EU institutions. This will provide investors with additional guarantees for the support scheme and regulatory framework in the Member State and encourage investor confidence in the country
Amendment 505 #
Proposal for a directive
Article 3 – paragraph 4
Article 3 – paragraph 4
4. The Commission shall support the high ambition of Member States through an enabling framework comprising the enhanced use of Union funds, in particular financial instruments, especially in view ofIn order to achieve the Union as well as the national binding targets for 2030 and lowering the cost of this the Commission shall cooperate with European financial institutions to establish a dedicated framework to reducinge the cost of capital for renewable energy projects as well as come up with a proposal for a new financial instrument mechanism.