Report: nearly half of EU power grids are over 40 years old
A new report from SET Ventures and Future Energy Ventures warns that around 40% of EU energy grids are more than 40 years old, while Europe may need over a million additional workers for its energy transition.
Venture capital firms SET Ventures and Future Energy Ventures have released a report highlighting serious challenges facing Europe's energy infrastructure. According to the report, approximately 40% of European Union power grids are more than 40 years old, raising concerns about their capacity to handle rising demand and integrate new renewable energy sources.
A labor shortage looms
The report also points out that Europe may need more than one million additional workers to support its ongoing energy transition. This means that alongside the financial and technical challenges of modernizing outdated grids, Europe also faces a significant shortage of skilled labor in the energy sector.
Part of a broader global race
The framing of the report situates these findings within a wider conversation about how different world regions are approaching technology and energy challenges — while China invests heavily in robotics and the US focuses on advancing artificial intelligence, Europe must find a way to modernize its energy grids and remain competitive in this global race.
The report's authors suggest that ageing infrastructure combined with workforce shortages could become a major obstacle to Europe achieving its energy transition goals, unless solutions are found for both funding and human resources.
