EU Aims to Future-Proof Power Grids to Cope With Green Shift (1)

The European Union has pitched a €584 billion ($640 billion) plan for ensuring its electricity grids can cope with the rapid roll-out of renewable power this decade.

Kadri Simson, the EU’s energy commissioner, announced the overhaul with key details on how it will be paid for yet to be finalized. The plan involves incentivizing national operators to make investments in the power network, which in many cases is over four decades old.

“The pressure on our power network has been mounting,” Simson said in a speech Tuesday. “Without these investments in our transmission and distribution networks, the energy transition ...