In light of the invasion of Ukraine, the European Union is making it a priority to reduce its dependence on fossil fuels, acting quickly to reshape the energy and climate panorama in Europe, fostering the resilience and sustainability of the European energy market.

Heads of State have called on the European Commission to draft the REPowerEU plan, which includes policies and specific measures to reduce EU dependence on fossil fuels.

With this goal, before the Commission publishes the REPowerEU Plan on 18 May, more than 140 CEOs and business leaders, including Suma Capital, have sent a joint letter to President of the European Commission Ursula von der Leyen in order to take advantage of this opportunity to drive the energy transition.

The letter notes that the coming months are a critical time for business voices to show their support for the acceleration of this much-needed energy transition, the European Green Deal and the measures in the “Fit for 55” package, to pave the way towards a climate-neutral economy.

Suma Capital has joined this letter as a reflection of its commitment to and alignment with the foundations of the REPowerEU Plan, as can be seen in the projects it funds, for instance the partnership with Enagás, leader in the natural gas facilities sector, to carry out the UNUE project upgrade from biogas to biomethane. Just one example of how private capital can provide solutions to reduce our dependence on fossil fuels and help mitigate climate change.