The City of Amsterdam, Netherlands, is planning to set up a new sustainable energy company. The city is planning to generate one-third of its energy needs with locally produced sustainable energy by 2025. The sustainable energy company will be established together with trade and industry and housing corporations. The newly formed company will invest in the solar photovoltaic and wind projects and other sustainable energy projects. The company will also invest in smart grid construction.

The city has projected to achieve a 40% reduction in CO2 emission by 2025 when compared to 1990.

Alderman Vos, Environment, said, ‘By also investing in sustainable energy ourselves, we will show the market that we believe in this development and that Amsterdam attaches great importance to sustainable energy production. Together with trade and industry we want to make Amsterdam a place of sustainable energy production.’

Alderman Gehrels, Trade and Industry, added, ‘A sustainable energy company would create opportunities for a new sector in the city. Becoming less dependent on fossil fuel energy sources is not only important in terms of climate change; it would also contribute to a healthy economic future for Amsterdam.’