Monday 20 February 2017

EU grants €444m for energy infrastructure projects

The European Commission is providing €444 million (£378m) for key European energy infrastructure projects.

A total of 18 electricity, gas and smart grid projects will share the cash and support the Energy Union’s goals by connecting networks, increasing security of supply and integrating renewables across the EU.

Out of those, seven projects are in the electricity sector, 10 in the gas sector and one smart grid.

A €40.25 million (£34.3m) grant will support the implementation of Germany’s largest energy infrastructure project in its preparation phase – a power line to link wind power generated in the north and south of the country.

Around €90 million (£76.7m) of funding will also support an energy storage project in Northern Ireland, an offshore LNG terminal on the Croatian island of Krk has been given €102 million (£87m) and a smart grid project in Slovenia and Croatia is being supported with €40 million (£34m).

The money for the 18 chosen projects comes from the Connecting Europe Facility (CEF), the EU’s funding support programme for infrastructure.

Miguel Arias Cañete, Commissioner for Climate Action and Energy said: “This is another milestone in the setup of a cleaner, more competitive European energy market. An energy infsrastructure which is fit for purpose for renewables to thrive.

“Thanks to this upgrade, the proposals in the Clean Energy for All Europeans packageare even closer to become a reality. The EU is demonstrating its commitment to delivering cheaper, more sustainable and secure energy to European consumers.”