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Spain, Portugal, Luxembourg push for 2040 renewable energy target

By Thomson Reuters Sep 29, 2026 | 4:31 AM

Sept 29 (Reuters) – Spain, Portugal, and Luxembourg sent a letter to the European Commission in which the countries asked for a new ​EU target to expand renewable energy, said ‌Spanish Energy Minister Sara Aagesen on Tuesday, ahead of a meeting of EU countries’ energy ministers in Dublin.

The three countries called on the Commission to propose a framework that would take ‌into ​account the strategic role of ⁠renewable energy, strengthening the ⁠security of energy supply and the need for affordable, competitive prices.

“We need clarity regarding the target we must set — for the year 2040 — an ​energy goal that is both ambitious and realistic”, Aagesen told journalists.

The European Union has a target ⁠to increase the share ⁠of renewable energy in its overall energy ​consumption by 2030 to 42.5%. It is currently discussing ​whether to set a renewable energy target for ‌2040 or a broader “clean energy” goal which would also include nuclear power.

Aagesen added that Spain and five other member states have put forward a proposal ⁠to the Commission to consider measures to capture windfall profits from high energy prices.

She also said Spain would welcome ⁠a permanent ‌levy on companies in the oil ⁠and gas sector to raise funds ​for climate ‌resilience actions amidst rising temperatures on ​the continent.

European ⁠consumers and companies have faced rising energy and fuel prices after the closing of the Strait of Hormuz in the US-Israeli war with Iran.

(Reporting by Inti Landauro, and Kate Abnett; Writing by Mateusz Rabiega, Editing ​by Ronojoy Mazumdar)