Tuesday 25 April 2017

EU provides €22m transport and energy boost

The EU is to invest €22.1 million (£18.8m) to develop transport and energy connections.

The funding from the Connecting Europe Facility will support seven selected projects and will contribute to the deployment of sustainable and efficient infrastructure in the sectors.

Four projects fall under the umbrella of the European shipping industry.

These projects will receive €8.8 million (£7.5m) and focus on the gas sector - one involves developing LNG as a marine fuel in Malta.

Two more aim to improve electricity issues related to roads and will receive funding of €12.3 million (£10.5m).

One of these aims to develop battery storage technology for fast electric vehicle (EV) charging stations along important corridors in Austria and Germany.

The final project, worth €1 million (£850,000), aims to increase the energy efficiency of the Croatian railway system by feeding back regenerative braking power into the electricity grid.

EU Commissioner for Transport, Violeta Bulc, said: "European transport still depends on oil for 94% of its energy needs.

"That is why the EU is investing in seven projects to speed up the deployment of alternative energy sources, with a special focus on electrification and multimodal transport".

A new report suggests electrification beyond the power sector could bring a wealth of economic and environmental benefits to the EU.