The People's Republic of South Devon

Euro-funds:Eurobonds could be used to fun large renewable engery projects and supergrids

European Commission President José Manuel Barroso signalled to Euro-MPs the possibility of using Eurobonds to fund large renewable energy projects and supergrids that could help South West England take advantage of its green energy potential.

Barroso was responding to a question from South West MEP Graham Watson, who has long advocated a Europe-wide ‘supergrid’ to transfer renewable energy around Europe. Graham believes this will be good for the environment, consumers and security.

After his debate with President Barroso, Graham said: “The EU Energy Commissioner told the European Parliament last week that he needs 1,000 billion euros over 10 years for energy infrastructure to tackle the twin challenges of climate change and energy security. Eurobonds could raise a large chunk of this.

“The South West has great potential to be a green energy producer – from wave to wind power – and President Barroso’s announcement is extremely promising. If we are able to fund an energy-supergrid through Eurobonds, our green energy could be sold across Europe.

“This means jobs, cheaper bills and a cleaner environment, and it is something we could not achieve without the EU.”

Here’s the cut and thrust of the debate:

(from a press release)

(image: Euros Some rights reserved by Public Domain Photos)

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