Germany's Economy Minister Robert Habeck said a much-anticipated roadmap for how a new generation of gas-fired power plants would be put out to tender was imminent, fuelling hopes of financial support for the construction of these stations. The plan, with an estimated cost of up to EUR40 bil (USD43.5 bil), aims to ensure enough electricity generation until renewable energy can overcome storage issues and inadequate grid technology to fully replace fossil fuels. This is to be achieved via 24 gigawatts of gas-fired and hydrogen capacity by 2035, which will be either be new stations or old ones that are converted.

Source: Reuters