Germany aims to fulfil all its electricity needs with supplies from renewable sources by 2035, compared to its previous target to abandon fossil fuels 'well before 2040,' according to a government draft paper obtained by Reuters on Monday.
According to the paper, the corresponding amendment to the country's Renewable Energy Sources Act is ready and the share of wind or solar power should reach 80% by 2030.
By then, Germany's onshore wind energy capacity should double to up to 110 gigawatts , offshore wind energy should reach 30 GW - arithmetically the capacity of 10 nuclear plants - and solar energy would more than triple to 200 GW, the paper showed. German Finance Minister Christian Lindner has referred to renewable electricity sources as "the energy of freedom".Reporting by Markus Wacket; Writing by Zuzanna Szymanska; Editing by Miranda Murray, Kirsten DonovanSign up to our investor newsletter to get the latest news and trends in global financial markets.
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