European Union on Target to Achieve 20 Percent of Energy From Renewables by 2020

The European Union is on target to generate from renewable sources more than 20 percent of the total energy it consumes by 2020.

According to a statement released last week, the EU will reach an overall share of 20.3 percent of energy from renewable sources by 2020.

Gunther Oettinger, European Energy Commissioner, said, "This is a very positive sign for the environment, as it will help us to cut CO2 emissions and at the same time enhance our energy security. It is also a very positive message for our economy and our companies. It is an incentive to invest in green technology and the production of renewable energy."

According to the EU Renewable Energy Directive (2009/28/EC), member states unable to meet their targets with domestic resources alone must acquire transfers from other member states who have met their targets or from countries outside the EU.

Germany and Spain, two of the EU's renewable energy leaders, are expected to surpass their targets.