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EU’s Wind Capacity Growth Falls Short Of Climate Goals

Despite wind power providing 20% of Europe’s electricity in 2024, the European Union is lagging behind in building the wind energy infrastructure needed to meet its ambitious 2030 climate and energy targets, according to industry group WindEurope.

Key Insights

  • Insufficient Capacity Growth: Europe added 15 gigawatts (GW) of new wind energy capacity in 2024, comprising 13 GW of offshore and 2 GW of onshore wind.
  • Shortfall Against Targets: The EU contributed 13 GW of this total but needs to build at least 30 GW annually to meet its 2030 goal of wind power accounting for 34% of electricity consumption. The target rises to over 50% by 2050.

Challenges Hindering Progress

  1. Permitting Issues: Many EU governments are failing to implement streamlined permitting processes, delaying project approvals.
  2. Grid Connection Bottlenecks: Infrastructure and logistics challenges have slowed the connection of new wind farms to the grid.
  3. Economic Electrification Lag: Europe’s transition to an electrified economy is not progressing quickly enough to integrate the growing wind power capacity.

Industry Context

The offshore wind sector has faced significant hurdles, including higher component costs, logistical complexities, and permitting delays. Investments in offshore wind projects have slowed, and final investment decisions remain challenging for many companies.

“Europe is not building enough new wind farms. For 3 main reasons: a) most governments are not applying the good EU permitting rules; b) new grid connections are delayed; c) Europe is not electrifying its economy quickly enough,” said Giles Dickson, WindEurope’s CEO.

To achieve its targets, the EU must address permitting inefficiencies, accelerate grid upgrades, and drive electrification across its member states. Without immediate action, Europe risks missing its climate goals and falling behind in the global energy transition.

Cyprus Fuel Prices Drop 7.9% In July, Among EU’s Largest Declines

Cyprus Among EU Leaders In Monthly Fuel Price Declines

Cyprus recorded some of the largest monthly fuel price declines in the European Union. Diesel prices fell 7.9% in July, the sharpest monthly decrease in the bloc, followed by Sweden at 7.4% and Ireland at 6.4%.

Petrol prices also declined sharply in Cyprus, with the country recording the second-largest monthly drop after Sweden, where prices fell 11.1%.

Annual Fuel Costs Remain Above 2025 Levels

Despite the monthly decline, fuel remains significantly more expensive than a year earlier. In June 2026, the cost of fuels and lubricants for personal transport in Cyprus was 18.6% higher than in June 2025, placing the country among the EU members with the largest annual increases.

Across the EU, the annual increase slowed from 20.7% in May to 13.7% in June before rising to 16.9% in July. Monthly declines therefore have not yet brought fuel costs back to 2025 levels.

Fuel Costs Continue To Affect Businesses

Lower prices in July reduced some of the pressure on households after months of higher fuel costs. Businesses that rely on road transport remain more exposed to the annual increase, which can affect logistics and operating costs.

Cyprus therefore recorded a sharp monthly decline while still facing one of the larger year-on-year increases in the EU.

Cyprus Ranks Among EU Countries With Lowest Fuel Prices

Weekly data from the European Commission’s Weekly Oil Bulletin showed average prices in Cyprus at €1.56 per litre for 95-octane unleaded petrol and €1.70 for diesel at the beginning of August.

Using data with a reference date of Aug. 17, Cyprus had the fifth-lowest petrol price among the EU’s 27 countries. Diesel prices were also the fifth-lowest in the bloc.

The July decline has reduced fuel prices in Cyprus, but costs remain above their levels a year earlier.

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