The European Union Has Approved Poland's $11 Billion Renewable Energy Policy.

- Jan 24, 2018-

The European commission has approved the government's $11 billion renewable energy policy.

The European commission said the polish government's plans for renewable energy and plans to reduce financial support for energy-intensive users were in line with eu aid policies.

"We want to promote green energy development, protect the environment and promote European economic development," said Margrethe Vestager, head of competition policy at the European commission.Poland's renewable energy policy will further increase Poland's green energy mix, helping to transform the country's energy sector.It will also increase the competitiveness of companies that rely heavily on energy.

According to the plan, Poland has completed two rounds of renewable energy bidding, with the remainder to be completed by 30 June 2021.

The commission said: "this fee is intended to help these facilities compensate for the unrecoverable cost of selling electricity on the market, thus achieving a reasonable return on investment."

The plan is to help Poland achieve its 2020 climate and climate change goals by imposing a surcharge on electricity consumers.