€5bn boost for energy infrastructure projects in EU

The European Commission has launched 195 infrastructure projects worth €5.35 billion (£3.8bn) to help the EU reach its energy and climate goals. It includes 108 electricity, 77 gas, seven oil and […]

Register now!

By admin

The European Commission has launched 195 infrastructure projects worth €5.35 billion (£3.8bn) to help the EU reach its energy and climate goals.

It includes 108 electricity, 77 gas, seven oil and three smart grids projects. The aim is to integrate Europe’s energy markets and diversify sources.

One of the electricity projects aims to end the isolation of the Iberian Peninsula through new interconnectors between France and Spain.

There will also be new Slovakia-Hungary, Germany-Poland, Bulgaria-Greece and Bulgaria-Romania interconnections built to address the problem of insufficient transmission capacity.

One of the gas projects will connect the remaining ‘energy islands’ by bringing an end to the gas isolation of the three Baltic States, Finland and Malta by 2020.

The so-called Projects of Common Interest had to show benefits for at least two Member States, contribute to market integration and further competition, enhance security of supply and reduce CO2 emissions.

In 2014 and 2015, nearly €800 million (£560m) has so far been allocated to co-finance studies and construction works to help implement them.

Commissioner for Climate Action and Energy Arias Cañete said: “Modern and reliable energy infrastructure is essential to allow energy to flow freely across Europe. 

“These projects will help us integrate our energy markets, diversify energy sources and routes and end the energy isolation of some Member States.”