Renewables set to overcome nuclear in Europe’s power generation projects
The new report by Timetric’s Construction Intelligence Center (CIC) shows that nuclear power is set to lose its leading position in Europe’s power generation projects due to a growing demand to shift into renewable energy.
This change is spurred by the European governments’ attempt to reconcile the EU’s aim to generate at least one fifth of its power consumption from renewable sources by 2020 with the requirements of each economy for reliable power sources. The European Union target of its member countries collectively achieving 20% energy consumption from renewables by 2020 has created the impetus to adopt renewable power sources at the expense of fossil fuels. With some countries falling behind in achieving their targets by 2020, it is expected that investment in renewable energy will pick up in the next five years. ….