EU picks 250 power projects eligible for €5.8bn funding

The European Commission has set out a list of 250 energy infrastructure projects eligible to apply for a €5.85billion (£5bn) pot of cash. The extensive list includes 140 electricity transmission […]

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By Vicky Ellis

The European Commission has set out a list of 250 energy infrastructure projects eligible to apply for a €5.85billion (£5bn) pot of cash.

The extensive list includes 140 electricity transmission and storage projects, 100 gas projects and the odd oil and smart grid project.

Among the UK-based projects are a new 1400MW undersea cable between Norway and the UK, another linking us to Ireland and various cables linking onshore and offshore wind farms to the national grid.

Electricity storage projects such as a hydroelectricity project in North West Ireland can also qualify for the funding.

Energy Commissioner Günther Oettinger said: “We have to make sure that our limited funds are used wisely and that EU money goes where it can create most benefits to European consumers. With this list of energy infrastructure projects and their accompanying benefits, we also hope to attract more investors.”

These “projects of common interest” (PCI) will benefit from accelerated licensing procedures and improved regulatory conditions and will be able to access cash for the period 2014-20.