EU backs budget support and 2030 target for renewables

The European Commission has said the EU must establish a binding 2030 target for renewable energy, pledging to include stimulus measures for the industry in its multi-annual budget proposals (post 2013) to be published later this month.

Political turmoil in the oil-producing Arab world and Japan's nuclear accident have already served to buoy the renewables industry in recent months, but high development costs and Europe's emerging shale gas industry feature prominently among a number o...