-- The European Commission and the European Investment Bank launched an advisory program on Friday to accelerate the shift from fossil fuels to clean energy in four key European regions: coal, peat, and oil shale.
The program, known as Technical Assistance for a Green Energy Transition, will offer advisory services to help regions historically reliant on coal, peat, and oil shale develop bankable renewable energy and energy-efficiency projects.
Through TARGET, the EIB has identified four regions in the Czech Republic, Poland, Sweden, and Romania where the lender will provide consultancy services.
The initiative comes as Europe seeks to reinforce energy security and accelerate decarbonization amid heightened geopolitical and market pressures.
The program will support the Czech Republic's Usti Region with a study assessing economic opportunities and challenges associated with its shift away from coal, including the condition of former mining sites and financing requirements.
The study will also evaluate the region's potential to scale up renewable energy such as geothermal, solar, and hydropower, as well as prospects for clean technology manufacturing.
The advisory will focus on mapping out development pathways toward a net-zero economy in Poland's Turow subregion.
TARGET will also assess economic and energy transition challenges in Sweden's Norrbotten County, including renewable energy expansion and the redevelopment of former fossil fuel sites.
The study will also examine labor market shifts, housing needs, and industrial competitiveness, while identifying opportunities for clean technology manufacturing and related industries.
Meanwhile, in Romania's Gorj region, the EIB will assist local authorities in developing clean energy and efficiency projects, with a focus on repurposing former coal assets.
Potential initiatives include solar projects on ex-mining land, geothermal heating, battery assembly and hydrogen-related manufacturing.