Tag: EU

€873 million EU investment in energy infrastructure adopted by EU Member States

CEF Energy

The EU Member States represented in the Connecting Europe Facility (CEF) Coordination Committee approved today the European Commission’s proposal to invest €873 million in 17 key European energy infrastructure projects that will improve the integration of the internal energy market and the interoperability of electricity and gas networks across borders.

The investment is made via the CEF programme, the EU’s financial mechanism supporting trans-European infrastructure.

Of the 17 projects selected for funding, eight are in the electricity sector (EU support €680 million) and nine in the gas sector (EU support €193 million). Four projects relate to construction works (EU support €723 million) and 13 to studies (EU support €150 million).

The largest part of the funding will be devoted to the construction of the Biscay Gulf France-Spain interconnection (EU support €578 million) – a new electricity link that will better integrate the Iberian Peninsula into the internal electricity market. The new link will nearly double the interconnection capacity between both countries, increasing it from 2,800 MW to 5,000 MW, and will bring Spain closer to the 10% interconnection target from the current level of 6%.  Read more.

Source: ec.europa.eu