The European Green Deal has set the course for Europe’s transition to climate neutrality. At the same time, Russia’s invasion of Ukraine has taught us the importance of energy security. EU energy policy must deliver clean, secure and affordable energy to European citizens and businesses.

Replacing fossil fuels and shifting to a sustainable, circular and just economy, as set out in the EU Green Deal, is essential for delivering Europe’s strategic objectives. Energy intensive industry is at the heart of this transition.

Honda Motor Co., Ltd. (Honda) and Mitsubishi Corporation (MC) today announced plans to establish a new 50/50 joint venture (JV) company, ALTNA Co., Ltd. (ALTNA), in July 2024. The new JV is based on the memorandum of understanding (MoU) the two companies signed in October 2023 to begin discussions toward the creation of new businesses in light of anticipated growth in the electric vehicle (EV) market toward a decarbonized future society.

Repsol will supply Microsoft renewable electricity after reaching an agreement for a combined six long-term virtual power purchase agreements (VPPAs). These 12-year supply agreements are linked to three wind farms and three solar plants in Spain with a total installed capacity of 230 MW that will be operational by December 2025. This deal adds to existing power purchase agreements which are part of a partnership announced in 2021, now reaching an overall total of 320MW of installed capacity.