Brussels confirms receiving Lisbon’s proposal including REPowerEU
Portugal has also requested €3.2 billion in additional loans, with the PEPowerEU grants amounting to €704 million.
The European Commission confirmed on Friday that it had received from Portugal the reprogramming proposal of the Recovery and Resilience Plan (RRP), which now includes a chapter for the REPowerEU energy plan, with a deadline of two months to respond.
According to a statement from the EU executive, the chapter for the REPowerEU – Affordable, Secure and Sustainable Energy for Europe includes six reforms, and 18 investments focused on energy efficiency in buildings, renewable energy and biogas, sustainable transport and industry with ‘green’ electricity supply (from wind turbines, photovoltaic panels and heat pumps).
Portugal has also requested €3.2 billion in additional loans, with the PEPowerEU grants amounting to €704 million.
The government has also requested the transfer of its full share of the ‘Brexit’ Adjustment Reserve, amounting to €81 million, to its RRP.
The government also wants to include 31 new or expanded investments and five new reforms concerning the simplification of tax or social benefit systems, incentives for the circular economy and better digital access to public services.
Altogether the amended global plan amounts to €22.2 billion.
The RRP, which has an implementation period until 2026, aims to implement reforms and investments with a view to the recovery of economic growth.
In addition to aiming to repair the damage caused by Covid-19, this plan also aims to support investment and create jobs.
Brussels now has up to two months to assess whether the amended plan meets the assessment criteria under the Recovery and Resilience Mechanism.
