Joint cross-border clean energy ventures are achievable and beneficial

Only a few European nations have embarked on cross-border green energy ventures, despite obvious advantages, such as affordable energy and access to the new resources. According to a recent European Environment Agency (EEA) overview issued, drawing on those countries’ expertise is critical for the viability of future cross-border initiatives. The EEA reporting Cross-border renewable energy implementation cooperation, which discusses the problems raised by cross-border renewable energy cooperation, found that there are some key obstacles to deterring European Countries from undertaking joint ventures.

These include the negotiation environment’s difficulty, possible disputes with appropriate procedures, confusion as to how expense and advantages will be allocated and public support. The EEA creates a series of guidelines, based on the study of three case studies affecting six European nations, to help resolve those obstacles. Strong political will, shared confidence, versatility and a structured coordination policy have emerged as core factors of the progress of cross-border renewable energy cooperation.

The presentation is based on a comprehensive report on ‘Cross-border regional collaboration for the implementation of green energy in Europe’ provided for the EEA by European Topic Centre on Climate Change Mitigation and Energy (ETC.CME). Achieving an energy grid that is climate-neutral would require further cooperative ventures between countries. Few Member States have undertaken a cross-border scheme, considering the obvious and plentiful advantages of such collaboration and a welcoming EU policy environment.

There are several advantages for the involved nations from cross-border renewable energy collaboration: more effective and cheaper electricity production, improved market certainty, free access to the new resources and markets, and facilitation of other foreign ventures. Such collaboration will also lead to the convergence of the European Union’s internal energy market as well as to the more cost-effective achievement of national and the European Union sustainable energy goals, as EU Council has recently highlighted.

As per the International Renewable Energy Agency (IRENA), owing to the expense of renewable energy production, the world is turning to clean power generation (IRENA, 2015). With the rise of solar photovoltaic power in the developed world and the recent implementation of the Sustainable Development Agenda, the market for solar photovoltaic power in the global economy will continue to be too high. By widening markets and better handling intermittency, the cross-border energy exchange provides the ability to further low production costs and accelerate renewables’ penetration. There are geographical variations in economic prospects and, thus, with the accumulation of solar PV, profits will vary depending on the country’s development status. Via cross-border interdependence and collaboration, lower energy costs and increased economies, all three nations have the opportunity to profit from enhanced grid stability.