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BRUSSELS OFFICE : +32 (0)2 895 5909

EU invests €444m in energy infrastructure

17/02/17Energy

EU member states today (17 February) reached agreement on a proposal to invest some €444m in key European energy infrastructure projects.

The money will come from the Connecting Europe Facility (CEF) and will be shared between 18 electricity, smart grid and gas initiatives.

According to the European Commission, the selected projects will help to connect European energy networks, increase security of energy supply, and contribute to sustainable development by integrating renewable energy sources across the EU – all important targets of the energy union.

Maroš Šefčovič, the European Commission’s vice-president for energy union, welcomed the decision.

“These are important projects with major cross-border implications,” he said. “They are a tangible sign of what the energy union means for Europe and how the European Union can help [make] our countries stronger by co-operating closely together.”

Climate action and energy commissioner Miguel Arias Cañete added: “This is another milestone in the set-up of a cleaner, more competitive European energy market. An energy infrastructure which is fit for purpose is essential for renewables to thrive.

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

The €444m investment will support the implementation of SuedLink, Germany’s largest energy infrastructure project, as well as the construction of an off-shore LNG terminal on the Croatian island of Krk.

Other selected projects include SINCROGRID, which is expected to lead to more efficient use of the existing electricity transmission grid in both Slovenia and Croatia.

€5.35bn has been allocated to trans-European energy infrastructure for the period 2014-2020 under the Connecting Europe Facility.

Pan European Networks Ltd