In line with enhancing the EU’s security of energy supply and climate neutrality objectives, the European Commission released on 13 March €980 million of funding for key European energy infrastructure projects with major cross-border benefits.
According to the Commission, the EU funding comes from the Connecting Europe Facility (CEF), the European support programme for trans-European infrastructure. “This a crucial instrument to deliver on the Green Deal, one of the political priorities of the (President Ursula) von der Leyen Commission, given the key enabling role of energy infrastructure in the transition to a climate neutral economy, the Commission said, adding that due consideration will be given to electricity projects, including network projects and electricity storage projects to support the deployment of renewable energy in particular.
To apply for CEF Energy funding, projects must first be designated Projects of Common Interest (PCIs), the Commission said, adding that PCIs need to have a significant impact on at least two EU countries and must increase competitiveness, enhance the EU’s energy security and contribute to sustainable development.
CEF-Energy has a total budget of €4.9 billion for trans-European energy infrastructure for the period 2014-2020.